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The road to success - my journey to becoming a financial planner

Monday 29 November in Business

The Island’s financial services industry is arguably one of the most active and fast paced environments to work in. And for those who own and run their own business, the challenge is certainly no easy task – so how do they master the obstacles of everyday life?

Owner and Managing Director of Chartwell Financial Planners, Joanne Dugdale, explained more to Islandlife’s Tia Welsh:

What does a normal working day look like for you?

Every day is completely different from me as I run my own business. I wear several hats in addition to providing financial advice; marketing, accounting, IT which makes life very interesting.

I will have new clients contact me which is usually when there has been a life changing event, or they’ve reached a point where they want to be in control of their finances.

A lot of my time is spent with existing clients either assisting them on an ongoing basis with any queries or arranging their regular reviews. Our reviews will involve understanding any changes to their circumstances and how this may affect their existing arrangement and if any changes need to be made. But also the fundamentals of how their investments have performed and using our cashflow system to clearly visualize their financial future.

We are constantly looking at what’s happening in the markets and keep up to date with any changes. I also look at the performance of our investments to ensure they remain in line with our expectations.

Everything changes so quickly so it can be challenging to keep up to speed but, at the same time, I get a buzz from what I do.

Wow – that sounds pretty busy! How do you juggle the different roles and responsibilities?

Thats fairly simple, clients always come first.

What inspired you to get into financial planning?

At university I studied Financial Services and had this ‘eureka’ moment when I understood the power of investing and compound interest. I’ve always worked from a young age and been brought up with the idea that getting a job is the only way to generate an income but I learned that if you had a pot of money that could generate an income for you to live on so you didn’t have to work. Which is basically retirement planning in its simplest form now that Defined Benefit pensions are a thing of the past. After learning how financial planning can help you achieve that pot of money – it was a very clear career pathway for me.

How does financial planning help you on a personal level?

Financial planning as opposed to financial advice delves deeper into understanding what you value in life. For me my main objective is feeling financially secure and knowing that I have minimized any potential financial risks. In my younger years I would have been considered myself a spender but I am a lot more considered nowadays. It isn’t your income that makes you wealthy it's what you do with it.

Financial planning has changed considerably from 30 years ago as has the influence of a financial planner. How would you define your role?

From an industry perspective there is an incredible change, moving away from this idea of selling a financial products. I consider this to be a profession focused on improving peoples financial lives.

What do you find most fulfilling about it?

I love being able to help my clients and show them how to remove any financial concerns. It’s a really great feeling to offer that reassurance to people and provide them with the options which can remove that financial worry/pressure from their lives.

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