Lea Schodel has never felt like a traditional financial planner.
Although she is extremely competent at business and maths, she is also creative, a bit of a right-brainer, and loves the philosophy and practice of yoga.
Until a few years ago, Schodel figured these two passions – planning and yoga – were mutually exclusive.
But then, something changed.
“Until about 2012, I had been one of those people who did a six-week yoga course and then never came back,” she says.
“But in 2012, around the time I sold my Contract Paraplanning business, I went to yoga and had this amazing teacher.
“It was a time of great change in my life and the teacher interwove yogic philosophy and behavioural stories throughout the poses and I realised there was more to yoga than stretching.”
Slowly, Schodel (pictured), who went on to become a yoga teacher, began to introduce more of yoga philosophy into her day-to-day practice in her role as director of MHP Private Wealth.
“I think I was really trying to decide where I fit in in terms of the planning industry,” she says.
“I always had this gut feeling that there was so much more to planning, but I didn’t know what it was.
“So I figured I could take this whole wellbeing concept and introduce it to the industry.
“I realised, too, I had to have my own balance. I had financial stability, but the rest of my life needed balance.
“Yoga created a moment where I realised how important it is to have balance to have total wellbeing.”
On the same page
Schodel, who is a finalist in the 2016 AFA Female Excellence in Advice Award, is particularly passionate about women and wealth.
She set up the WealthyCo movement 18 months ago, which delivers the Mindful Wealth Movement programs and also partners with not-for-profits to help advance women’s causes in the community.
The wealth movement programs are designed to give women the skills to approach their finances with confidence, and to view money as an essential component of a balanced life.
“So many women are scared to seek financial advice,” she says
“To manage money well, we need to manage ourselves.
“I think our beliefs are key to money because what we believe is what we create.
“If you’re stressing about money or ignoring it, then you are never going to have it.
“It’s our sub-conscious beliefs that drive us and until we bring those to the surface, it will never change.
“People often think this is wishy-washy stuff, but it’s absolutely true.”
Such a distinct philosophy has attracted a like-minded band of clients.
“I would say 90 per cent of my clients are female,” she says.
“My clients are like my friends, they are the type of people I would like to socialise with.
“They know I am passionate about yoga, we are on the same page.”
Many of these women are people who would never have gone to a planner before.
“They tell me they can’t handle money, that they’re creative and they don’t want to see a typical financial planner,” she says.
“So I thought there needs to be a planner for them.”
While Schodel has cornered the creative client end of the planning market, she realises that her philosophical approach may be too niche for some.
“It’s not going to be everyone’s cup of tea,” Schodel concedes.
“But then I am not trying to be the planner for everyone.”
Planner profileLea Schodel Name of firm: MHP Private Wealth. Name of licensee (if not self-licensed): InterPrac Financial Planning Years in the industry (previous jobs?) 15 years. Previous roles included paraplanner, associate adviser and director of Contract Paraplanning Services (outsourced paraplanning business which has since been sold). Academic qualifications: ADFS FP, ADFS BUS MGMT. Professional association memberships AFA – also on the AFA Inspire Committee for QLD Other memberships: Women in Finance |
