Financial Advisor

Jennifer Loicht

Financial planner Alysia Morris meets 15 clients a week, which is both rewarding and challenging. “It’s challenging meeting different people every day,” Morris says, who works for ANZ. “They can be unpredictable.” But, she says helping people to help themselves is what she enjoys most.

What appealed to you about this line of work?

I started off in para-planning, which is a bit more back-office than being a financial planner. I did that for a few years, which was great. It was a really good grounding in terms of understanding everything you can do for a client. The next step was to go out and meet the clients, which I love.

How long have you been a financial planner?

I’ve worked in the wealth management industry for five years, first for the Commonwealth Bank of Australia and now for the ANZ Banking Group.

What does your current job involve?

My job is to see clients of ANZ who need help with their investments, investment advice, risk insurance or personal protection, retirement planning and superannuation.

Who comes to see you?

Predominantly younger people who are wealth accumulators, or mums and dads with families and debts and so on, who need protection, as well as retirees.

Is there such a thing as a typical day?

Every day is quite different, although they all revolve around meeting clients in a branch.

What happens during a standard meeting?

The first appointment involves having a really good chat to the client and gathering a lot of information — existing income and expenses, assets and liabilities, as well as their views on investing and past investment experience. We’d probably meet again the following week after I’ve prepared what’s called a statement of advice, based on what they initially told me. I let them know what I believe they should do and why, as well as explain any associated costs, fees or risks to make sure they fully understand what they’re doing. There might be a third appointment once they’ve had a think or talked to their family.

What percentage of people act on the recommendations you make?

Maybe 75 per cent. There are people who find there’s no need, or perhaps they’re already doing everything right and just wanted another opinion.

What are you recommending at the moment?

There’s a huge opportunity for superannuation before the end of the financial year. The next few months are about educating people on what’s out there and what the possibilities are for them.

What attributes make a good financial planner?

Communication is a big thing. You need to be able to explain things to a range of clients, from the very educated to people who really don’t want you to confuse things. You also need to have the appropriate technical knowledge and understanding of all the financial planning issues because without that you can’t give good advice. Being trustworthy is important, too.

What qualifications do you have?

A bachelor of commerce from the Australian National University in Canberra. After I started working I also did a diploma of financial planning, which you need to do to be able to give advice. I often attend seminars and training sessions as well.