When Tim Deamer was looking for his first job, he bypassed the newspaper ads and went straight to the company where he wanted to work.
“I had a friend who knew this financial adviser and I thought that sounded like a pretty interesting career,” Deamer says. “So I gave this guy a call and asked him for his time. I ended up having a chat, and we discussed career opportunities and he took me on.”
Deamer’s initiative at the age of 23 impressed his first employer, and it would impress Deamer likewise if someone were to do the same with him today.
“If I were looking for a job in today’s day and age, I would want to put myself forward, I wouldn’t be sitting around,” he says. “If someone were to approach me about work, I would find that impressive, as it shows initiative.
“Especially in this profession, when so much is built around your ability to form relationships with others. Picking up the phone and meeting someone for a coffee to discuss your career shows you’re capable of building those relationships.”
Relationships are something Deamer prioritises.
While he has opinions on the wider issues facing the profession, his main focus is on the relationships that are forged in his office.
When he first started out in 1999, planning was more product-based and strategic planning was yet to take off.
“I remember telling someone early on that I wanted to work in more strategic planning and the guy told me that all the strategic planners went broke,” Deamer says.
Luckily for Deamer, things started to change in the late 1990s, as strategic planning became more commonplace and viable.
It was where Deamer found a natural home.
“You’re really in a position of trust like no one else,” he says. “You get to see people push past points they wanted to get to; if a person is in distress, you get to be there by their side.”
These days, his work mainly involves high-income professionals and executives within business succession and retirement planning advice, as well as estate planning and risk-management strategies for high net worth family groups.
He is also a self-managed superannuation fund specialist adviser.
When asked the top trait necessary for negotiating the sometimes rocky waters of strategic planning, Deamer was unequivocal.
“Resilience is very, very important,” he says. “I think that is probably the number one thing you need. If you’re a leader, you need it for your staff, as they’re looking for guidance. With clients, the times that you may actually be most valuable could be the most difficult environment. So that resilience is extremely important, as you will need to be able to focus on the important issues and not be distracted by all the noise.”
A big part of strategic planning, Deamer says, is the ability to change a course of action when it’s no longer viable.
“You put a plan in place, but when things change, you need to keep adjusting your strategy as you progress,” he says. “Things won’t always go to plan, conditions can change, but you need to be able to adjust your focus to suit.”
In his 24 years as a planner, Deamer has learned many things about people and the profession, but the realisation that nothing is certain and change is an ever-constant companion has been a big one.
“My role is not to promise things I cannot deliver, but I can help clients manage uncertainty,” he says.
Name of firm: Crosbie Wealth Management
Name of licensed: Securitor
Years in the industry: 24
Academic qualifications: Master of Commerce, Diploma FP
Accreditations: Certified Financial Planner
Professional association memberships: Financial Planning AssocationPA, SPAA
Other memberships: Most Trusted Adviser network