Question

Do you only work with millennials?

Answer

Based on my website and business name, there are no prizes for guessing that I specialise in working with millennials and as such most of my clients are millennials.

The decision to go down this road was both a personal and business decision.

There has and always will be plenty of options for “older” people to get financial advice. Internally, the industry makes no secret that these people have more assets and in turn can charge more to so naturally this is where most of the industry has and will continue to serve.

I don’t agree that a client should be charged more just because they have more assets but that’s a beef for another day.

I was (and continue to) always getting asked money questions from friends so never had any doubt that there’s a lot of confusion with money for millennials and there aren’t a lot of options for them to seek the personalised help they need (especially independent) so Millennial Independent Advice was conceived on this basis as well as me personally enjoying working with people dealing with similar issues to me.

I also spent the first 4 years of my career working mainly with pre and post-retirees and I would often work with clients whose financial situation wasn’t as good as it could have been with little time to improve drastically before retirement and thinking “I wish this client got good financial advice 20 or 30 years ago”. Small changes compounded over a long period can make an enormous difference.

With this being said, I have spent the majority of my career working with pre and post-retirees and love the challenge of helping people navigate this enormous milestone.

So do you work with people who aren’t millennials?

In short, yes, but only if we’re a good fit for each other and I don’t think there’s anyone I know who could do a better job given your circumstances.

I’m obviously passionate about independent advice and is something Australian’s are seeking more and more on the back of the negative findings around the Royal Commission last year and there just aren’t that many truly independent financial advisers in Australia and I’m the only one in Newcastle.

As a result, I currently enjoy working with a handful of “non-millennial” clients who have sought out an independent financial adviser or have been personally or professionally referred to me.

My first mentor used to say “I know enough to be dangerous” so think that one of the best attributes an adviser can have is knowing when issues affect clients but knowing their limitations and referring the client to get the expert advice they need when necessary.

It’s impossible for me to be across the necessary detail on every topic so when I think an expert is better suited I’ll refer you to these experts to ensure you get the advice you need. Advice around aged care is one common area where this is the case.

I can’t guarantee I can help but if you’re not a millennial but looking to get independent advice, don’t hesitate to reach out to see if I can. If after having an initial chat I (or you) don’t think I’m the most appropriate person for you I’ll pass on some tips on how to get the independent advice you need or put you in touch with a colleague I’d be confident can help.

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