At 76, John Jefferies works six days a week, and by his own reckoning, much harder than ever.
The financial planning adviser, educator and fellow of the Financial Planning Association (FPA), commits himself to just a small number of clients, but the ancillary work continues to mount and he has no plans of slowing down.
“I have worked out of the same home office for 36 years and I am probably working harder than ever,” he says.
Not that Jefferies would have it any other way. He tried to retire from the industry, which he has been a part of for 51 years, but he didn’t last long.
“I hit 65 and did what everyone is expected to do and I retired,” he says.
“But it was so boring and I like to feel like I am pulling my weight, that I am contributing in some way to the community.”
So Jefferies returned to what he is passionate about: educating the next generation of planners and raising professional standards.
Jefferies wears a number of hats for the FPA’s CFP certification program: he is a subject matter expert with the CFPC, and has designed and presented 80 slide Powerpoint presentation in webinar for CFPC.
In the service of the profession
In July Jefferies became a fellow of the FPA, where he was presented with a Distinguished Service Award in recognition of his commitment to maintaining standards.
“I believe very strongly that education has to be maintained beyond the certificate of financial planning,” he says.
“The technical side of the planning industry can change quickly. I always tell people that they can have something right on Friday and be wrong on Monday.
“Planners need to keep up to date with legislation as it is very easy to fall behind.”
It is hard to imagine him doing anything else, such is the depth of Jefferies’ passion for the industry, but there was a time, back in the early 1960s, when he taught maths and science to high school students.
“I became disenchanted because you were promoted according to who was next in line, and I wanted to push myself forward and be promoted on my ability,” he says.
So Jefferies became an insurance agent.
“It may not sound that edifying, but if you maintain your own credibility it could be very satisfying,” he says.
Planner ‘by accident’
The company he worked for, National Mutual, began mandating that staff complete planning modules, and Jefferies took them on with gusto.
“They added more mandatory modules and by the end I had done half of the diploma in financial planning, so I thought I may as well do the entire thing,” he says.
“In that way, I became a planner by accident. And planning was exciting. I thought I could try and sell someone a $100,000 life insurance policy or I could take their $100,000 and help them invest it.
“It was a solid subject area.”
Jefferies has been “horrified” by the recent financial planning scandals involving big institutions, and feels financial planning could one day be regarded as a profession “but is not quite there yet”.
“If major institutions can’t get it right, what are the little guys going to think?,” he says.
“When some of the big names aren’t morally right, the rest of us are cast in the same light.”
The trick to changing perceptions and continuing to weed out the few bad planners, is education.
“I think the education process that the FPA offers is important, as is the almost universal requirement that planners have degrees these days,” Jefferies says.
“Raising standards is a continual process and it doesn’t happen quickly.”
Jefferies would also like to see less political meddling in the sector.
“Part of the problem that we face is that the legislation is always changing, they like to fiddle with the buttons,” he says.
“The incumbent political party promises at election time what they can’t afford to deliver and then gouges the superannuation sector to try and balance the budget.
“They need to take their hands off the lever.”
John Jeffries was presented with the the FPA’s Distinguished Service Award and was made a Fellow of the FPA at the association’s roadshow event in Melbourne. In presenting the awards, the chief executive officer of the FPA, Dante De Gori, said of Jefferies:
“This person has made an incredible contribution to the FPA over the past 16 years and we would like to present this person with the Financial Planning Association Distinguished Service Award. The award recognises exceptional contribution to the work of the FPA and the common good of the profession through volunteering services to FPA chapters, committees, task force, CFP program, et cetera.
“The winner of this award has been a diligent subject matter expert in the education courses that form pathways to the CFP designation.
“He holds a strong belief in the importance and value of education, and commitment to the maintenance of the program’s standards; his efforts underpin the quality of the program that we deliver to out future CFP members; and in recognition of his efforts the board would like to award him with a Fellow membership, and present him with a Distinguished Service Award.”
Planner ProfileJohn Jefferies Name of firm: John CB Jefferies. Name of licensee: Charter Financial Planning. Years in the industry: 51 – previously a science and mathematics teacher. Academic qualifications: Master of Commerce; Diploma of Life Insurance; Diploma of Financial Planning. Accreditations: CFP, CIP. Professional association memberships: Member and fellow of FPA, AFA and ANZIIF. |
