Perth-based planner Jarryd Thraves says being certain the client has articulated their point of view and have sufficiently unpacked their financial goals requires more than education.
“Soft skills come into play,” Thraves tells Professional Planner, adding advisers rely on more than technical skills.
“Having that emotional intelligence is really important, because at the end of the day, you really need to understand the client from their perspective and see how the are interpreting the advice that you’re offering them.”
Thraves came into the finance space after spending some time in small business management, working with family in the solar panel industry. He sunk his teeth into the operation, but ultimately decided it wasn’t where he wanted to be, returning to Curtin University to undertake a banking and finance degree while still working in the business.
With a Bachelor of Commerce degree and a Master of Financial Planning under his belt, he was offered a mentorship while still at university, working in a small practice for the next year, where he learned the ropes of financial advice. It didn’t take him long to realise it was where he was meant to be.
He joined Perth’s Blueprint Wealth in 2016, enticed by the business’s client-first culture. The firm focuses on investing planning, structuring and portfolio construction, superannuation, retirement planning, debt advice, wealth protection and estate planning. “It’s a very close team with a great culture,” he says.
Blueprint Wealth operators a dedicated financial adviser and relationship manager system to ensure clients always have at least two people they are able to contact with any enquiries. Thraves works closely with an associate adviser and a relationship manager, who oversees the implementation of a financial plan for clients.
“When you enjoy your job, it doesn’t feel much like work. And that’s purely because of the great people I work with and the team we’ve got here.”
He adds: “Financial advice is hugely rewarding job that is often about finding ways to taking away emotional stress and pressure for clients. You can create a lot of improvements with a few moves,” he says.
Given his background in small business, he tends to work mostly in the small to medium enterprise space, along with mum and dads and young professionals. “I understand what it takes to own and run a small to medium sized business, which isn’t something you typically see in the advice space. I have a completely different perspective about the pressures that people go through and have a lot of empathy for them,” he says.
Thraves puts a continual focus on improving the client experience and efficiency of the processes to deliver a better experience for clients. “I’m always looking for efficiencies that enables me to spend more time in front of my clients. There’s a lot involved in providing advice these days, and the processes you establish as a financial adviser can’t be set and forget, you always need to be improving.”
For example, he uses an online booking system that enables clients to select and book a time slot online that works for them, eliminating the need for them to pick up the phone.
Continually shifting regulations has been a whirlwind for the industry. “The biggest challenge in the advice industry is staying on top of constant regulation changes to ensure you’re always compliant.”
