Financial Planner Life Podcast
Welcome to The Financial Planner Life Podcast. We cover an intimate and honest account of what it’s really like to work in the financial planning profession.
Our guests share their stories of success, failures and learnings, as well as what to expect from a career in the financial planning profession! We host guests at various stages in their careers, as well as multiple roles to ensure that our audience has a variety each week.
Financial planners, business owners, paraplanners and back-office staff all have their own story to share, and The Financial Planner Life podcast is a platform for them to talk about their personal and professional journey. The podcast covers a multitude of topics, from mindset and motivation, health and wellbeing all the way to diversity and inclusion.
We approach each episode with the idea that it is going to educate and spark a conversation within the industry with topics that may not be openly discussed. So, if you are thinking of becoming a financial adviser, or you’re curious about learning more about this brilliant sector, we urge you to give the podcast a listen.
The Host: Sam Oakes is the host of The Financial Planner Life Podcast. since 2008 Sam has been supporting leading national and global financial planning firms in finding the best talent, he was the director of Recruit UK, a 7 figure turnover financial planning recruitment company that he successfully exited in 2024, Sam now works as the Head of Creative for Hoxton wealth, building out podcasts, YouTube and social content for this fast growing fee based international financial planning firm.
Sam has always had a passion for financial services, starting out as a trainer for leading product provider in the UK, he has been in the industry for over 20 years.
He sees himself as a partner to the industry and wants to contribute useful resources such as this podcast to educate those further who are seeking advice and help about how to push their careers forward in this amazing profession.
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Financial Planner Life Podcast
From Classroom to Client Meetings: Laura North's Journey from Teacher to Financial Planner
Laura North, a former college lecturer with 16 years of experience, shares her incredible journey of moving from the classroom to becoming a successful financial planner. Discover how she navigated this life-altering transition, leveraging her teaching skills in a whole new way. Laura's story is a beacon of inspiration for anyone contemplating a career switch, revealing the intricacies of reshaping professional goals and the courage it takes to follow one's passion.
Throughout our chat, Laura opens up about the role of the St James's Place Academy in her transformation, providing invaluable support and guidance. Her narrative shines a light on the unique opportunities within financial planning, particularly for women, and how educators can utilize their skill set to thrive in this industry. We also delve into the balance between personal and professional life, highlighting the significance of building a supportive network and fostering genuine connections.
We explore the art of networking and the power of genuine curiosity in forming meaningful relationships. Laura emphasizes the importance of being part of a strong community and how these connections not only enriched her career but also her life. Her approach to financial planning is centered around education and trust, offering a fresh perspective on how to engage with clients. This episode is packed with insights and encouragement for anyone looking to embark on a new professional journey.
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And today's guest on the Financial Planner Life podcast is the lovely Laura North from Laura North Financial Planning. I really enjoyed talking to Laura because it's an honest account of what it's like moving from one career to the other. She was a teacher for 16 years. She ended up really falling out of love with it, but a chance encounter with someone from St James's Place opened her up to the St James's Place Academy. She doesn't move quickly. It took her nine months to make the decision to join St James's Place. So we talk about what she did during that period around her due diligence to feel comfortable and calm enough to move across into the St James's Place Academy and, of course, into a brand new career. We also talk about her first 12 months, which she describes as phenomenal.
Speaker 1:So this is an amazing episode for anybody that wants to know a little bit more about the St James's Place Academy and what it's like to make a career switch, especially if you're a teacher. You're going to love this episode. If you're thinking about joining the financial planning profession and you want an honest review of the St James's Place Academy, lauren north financial planning does exactly what it says on the tin you said, wasn't it? Lauren north financial planning. How are you?
Speaker 2:yeah, I'm good. Thank you very much. How are you?
Speaker 1:I'm really really good, thank you. Two weeks into my new dubai life and it's going well. My daughter's in school. She's loving it. We've moved into our own apartment here for the next 12 months. I've got my feet nice and firmly under the table with Hoxton Life and I'm getting stuck into a lot of really interesting projects and I feel good. Actually, I feel like I've made the right decision. It's always nerve-wracking and terrifying doing anything different, but I had a whole year of very different things happening, so I thought you know what? Let's move country and move job at the same time. So there we are, and my family.
Speaker 2:You look happy. That's the main thing.
Speaker 1:no-transcript there's a little bit of sunshine, oh, that's good, it's cold it's cold right, classic.
Speaker 1:So, laura, thank you so much for joining me today on the financial planner life podcast and I really enjoyed us talking a few weeks back when we did a bit of a podcast exploratory chat to find out a little bit more about you. Pre-podcast, you have gone through the St James's Place Academy and St James's Place are a partner of the Financial Plan of Life podcast. We love talking about people who've did a career switch and you're definitely one of those people that have done a career switch and I think it's really, really important that we talk about those career switches because we want new people joining the profession and you're a prime example of somebody who has made that leap. So let's talk about that journey, the ups and the downs, the realities of switching career, really. So, first off, tell us a little bit about your previous career. What were you doing prior to joining financial sorry, st James's Place as a financial planner?
Speaker 2:I was a college lecturer I don't like the word lecturer, but teacher for 16 years in the local college, teaching business and finance, everything from level one to a level essentially. And yeah, and in that time, what did I do? I ran courses, I taught a whole range of different people, different subjects. I mentored and coached new teachers to come into the profession as well. Um, and yeah, and, and I think I can't people say to me all the time how many people do you think you taught? I've no idea a thousand, maybe more, I don't know. It was and there was a lot.
Speaker 2:And it's quite different to when you're teaching in a school. You know you literally walk from one. You might be teaching sort of finance to a very low level group and then you might be going to teach operations management to a very high level group two hours later. So you have to really every. Every day is different. Every couple of hours is different. You're not with the same set of people all the time. So, yeah, so yeah, very um, uh, every day was completely different, really, okay okay, so you, you were working in a college.
Speaker 1:Did you ever work in a school, like in a primary or a secondary or junior school?
Speaker 2:no, no, I've always, always, only taught 16 to 19 year olds.
Speaker 1:Okay, interesting. And with those 16 to 19 year olds, as we're on the subject, and you were in a college setting, were they taught anything around finance?
Speaker 2:No, I mean we obviously I taught finance so, and it was things like setting up your business, cash flow, forecasting, how to run your business. But we did have, we did actually have a financial studies qualification at one point, but that that soon disappeared, but I think it was really something you try to talk and integrate into your lessons. It depends on your in your subject area really. Obviously, if you're teaching art, for example, it's quite hard to do that, but, um, there are people you can get in to kind of have these kind of educational chats to, or guest speakers. But um, yeah, financial education is it's kind of it's really lacking, I'd say, unless you're kind of passionate about it or part of it then, I suppose it's a bit of a subject that people don't really talk about how long were you teaching for?
Speaker 2:16 years 16 years.
Speaker 1:Okay, so yeah it's a huge chunk of my life, huge chunk, it is a huge chunk of your life 16 16 years is the same amount of time that I ran a business for, actually, that I just recently sold, so 16 years I know exactly what 16 years feels like and it is a big chunk of your life. A lot of change goes on in your life during that period.
Speaker 1:You get married, you have kids, all that type of stuff, babies, excellent, ok, so teaching is something that. When did you choose to become a teacher, you know, did you? Did you leave college, university and then go straight into teaching? When did you enter into that career?
Speaker 2:well, I think I was actually four when I first decided I was going to be a teacher forever and I used to do registers to my make-believe friends and teddies and stuff, but um, and set homework and stuff like that, um, um, but yeah I, I remember being at college saying I'm definitely going to be a teacher. I did my work experience at school, in a school, in a junior school it's actually the junior school my son goes to now um, I just always wanted to be a teacher, I don't know what exactly. So when I was at college I did tourism management um, with business studies alongside. I went off and did my degree um in tourism management, but business the business aspect just popped out of me all the time. It's something that I really enjoyed, um, and then I ended up, but while I was always teaching sorry, while I was at university.
Speaker 2:I've always been one of these people that has always got like two or three jobs on the go. So I used to go to college in the day and at night I used to run an insurance department and then, when I was only 17, we sold car insurance add-ons for the rac. But yeah, I was quite quick to um, move up the ladder there and they said please stay. And I said, no, I really want to finish my last year at university because I desperately want to go on to be a teacher, um. And then, um, I went into marketing for a little while, um, for a brilliant company that was just starting and there was only a few of us, but they grew so quickly but I actually was the first person to ever leave their company because I was so desperate to be a teacher. I just kept going.
Speaker 2:And then I went in to work for the local council and help promote tourism in the local area work for the local um council and help promote tourism in the local area. And again, um, I was reading in the paper one day and a maternity position came up, um, to do some teaching hours at the college that I've always that I used to go to and I always wanted to be part of. And, um, I actually asked the tourism department I was working with because it was a sort of seven day week thing can I have my two days off on these two days? So I used to go in and teach on my two days off as well as working full-time within the council. So I think for 10 months I basically worked seven days a week, teaching 12 hours without a qualification and doing my tourism job within the council, and then the college said would you like to come and train and get qualification? So I said yes, please, and then that's it I left well, there we go.
Speaker 1:So it sounds like you were destined and born to be a teacher, from four years old doing the register with your teddy bears. You had it. You had it in your blood. By the sounds of it, teaching was something that you were going to do, regardless of the success you were having, even at a young age, working in the marketing or the department, when it comes to the insurance add-ons or the rac, etc. So you had some really great success in other areas. So I'll ask the question why? Why teaching, though?
Speaker 2:um, I think I it just involves being with people and helping people. Um, and I like to learn myself, so I don't know if that's something I kind of impart on other people. Um, and it's just nice to see people develop and improve. Um, I don't know why, at four years old I thought that that was that would have been my answer. Um, but I just really enjoyed school myself. I think I don't know if, again, I had a really positive um outcome at school used to love going to school. It's like my kind of constant place, my safe place. I used to enjoy that, so perhaps that's where my sort of love for it came really so the kind of culture of self-improvement, education, development, um community that it brings as well.
Speaker 1:So education, I think you know it's a powerful thing, isn't it? Education, not every every person in the world gets the privilege to go to school and receive an education. And when you think about it down, it's amazing, like it's insane, that we are lucky to have that education, because the education gives us opportunities. Right, it gives us also community space to go. It gives us the ability to build a, build a, build a. You know families and and all that type of stuff. So it's a real positive impact on society in general. Now, those you're in school for 16 years, what, what were you teaching then? What? What were you actually delivering? Teaching wise towards the end, what was your say? Business?
Speaker 2:yeah, so I taught business and finance. So I started in tourism and business and then, as the years went on, I was doing lots of marketing. So I had a bit of a marketing and sales background, but then I think you end up sort of developing your own things that you enjoy to teach as well as things that people say, well, you're quite experienced. Laura, do you think you could develop this programme or could you teach them that? So it honestly ranged from customer service, operations, management loads and loads of finance, and then, just as I was leaving, t level programme came in. So that's the other thing we're teaching is.
Speaker 2:Every year is so different because there's government reforms, um, there might be, uh, new funding, new, new objectives, you know, new, new things that the area need to develop, and finance was definitely one of them. T levels um was coming in and they asked me to kind of head up the t-level finance um and get involved in building that. So, um, yeah, so that that was quite a different subject area actually, because it wasn't like the traditional um, how do you run your business? You know the cash flow, forking, costing, profit loss, that sort of stuff it was more to do with. Well, actually, in the second year they can branch off and pick a kind of like a career path, and one of those being wealth management.
Speaker 2:And I was like I don't know anything about wealth management, I'll be honest. Um so um, we looked into it and there was a real shortage and and need for that in the area. Banking was another one, but again the high street was in decline with that. So we went down the wealth management route and I was basically researching and looking for people to come and help. You know, with my I'll be teaching it but get people on board to kind of talk about their experiences and and their careers, to kind of inspire the students really okay, so at that point did you know much about wealth management, financial planning no, I'd never had a financial plan.
Speaker 2:I wouldn't know a financial advisor if I bumped into them. Um, yeah, I just assumed it was for me. I spoke to a mortgage advisor once, but that was it. None of my family would ever have had financial advice. They didn't have any money, so no, and I didn't know anyone, none of my friends, none of the people I knew. So yeah, or if they had, it was a financial advice was something that you kind of did behind closed doors. You know, you didn't. I don't know. The people I spoke to didn't, didn't ever talk about it anyway, never talked about it.
Speaker 1:So, yeah, you weren't exposed to it and you weren't in a family that had wealth, for example, that had a wealth manager or a financial planner. So why would you know? Um, okay, very interesting. So, from a pension perspective, then, what? What were you doing? Were you just sort of taking the pension through the education system? Or what did you not know about financial planners from your pension side? Or it was just taken care of by the school.
Speaker 2:No, because the you know teacher's pension just you just pay in, you just sign up, pay in and um, everyone loves the teacher's pension. You just pay in, you just sign up, pay in. And everyone loves the teacher's pension. You know that's what everyone says. You make sure you sign up and you've got a good pension. So you know it's all bundled up, all lovely, and you're in this bubble and you're all secure and that's that really.
Speaker 1:And that's that, and you're all secure, and that's that really, and that's that. So at that point you reached out to somebody to talk to them about wealth management, to come in and educate the students if they were interested in taking that pathway as a career. So you reached out, you did some research and you came across St James's Place, didn't?
Speaker 2:you. Yeah, I was looking for a guest speaker and I just well, just trying to find someone because I hadn't heard of anything or anyone. And then, um, yeah, I was on the website and I just saw the academy and I thought, oh, this would be great for the students, like, look at this, we could get them through the course. And and then, the more I read, I was like, no, this is not for them, this is for big girls. And I and I just looked and I thought, the more I about it, I read the brochure about three times and I thought, do you know what? This is something I would love to do and this is potentially a really good time for me.
Speaker 2:So, yeah, I thought it was a bit too good to be true. To be honest, I'm quite a sceptical person. But, yeah, I just picked up up the phone, because that's the sort of thing I do, and just asked a million questions because that's another thing, I do, ask lots of questions and uh, yeah, a few phone calls later, I was starting to, you know, really look into it that's interesting.
Speaker 1:so just from that chance chance, in came to that chance viewing of a, of a landing page talking about an academy, with the kids in mind, really, and you just established, and very quickly saw, that, hang on, this is a career pathway. So what was it, though? Because at that point, you were kind of hooked, you were kind of well, hang on, this sounds too good to be true. True, this is a career pathway, I suppose. What was it about it that really turned you on to St James's Place Academy?
Speaker 2:what, what, what got your interest then? Well, I think for me it was. It was just a place. That again something I was familiar with in this educational world. It was like another um educational setting for me to be in and that that I'm going to be looked after. So they're going to train me, they're going to develop me after even all my exams. Um, um, there's all this support and, and it doesn't stop there, it's like a continuation. It, you know it doesn't go to term six, it's a forever, and the community aspect of it as well, um, and I think for me, I I love to constantly um upskill, try and improve and and and that that sort of culture or those values just seem to go on and on, and on. But yeah, it was just this place that I could go to and they would not reinvent me. But, you know, get me over to the, to the next stage, really.
Speaker 1:And were you ready for a change at that stage? Were you looking for something subconsciously, consciously, something that wasn't teaching anymore?
Speaker 2:subconsciously, consciously, something that wasn't teaching anymore. Yeah, well, I think for me I'd. I felt like I'd come to a bit of a natural end in my career in teaching. Um, I could I. There's not one one thing that caused it. It's it kind of develops and happens over time. Having gone back, having had my second child um, just before the COVID lockdown, I think, without the cliche of saying, oh, covid made me really reflective, but being stuck in with a brand new baby and a five-year-old kind of does make you quite reflective and you've got no one to talk to.
Speaker 2:So, yeah, so, but also, things had changed, team had changed, lots of people had left and you, you know, you can't do that role, you can't teach without an absolute solid team. Um, and there's so many changes. The teaching profession is so difficult. Um, every any teacher will tell you the hours you. You hear about it all the time, but the hours you work are quite phenomenal. The effort you put in, the kind of sacrifices you make, um, it just becomes unsustainable, essentially. So when the bricks start to fall down, you feel actually I can't do this anymore. And I always said well, it got to the point where I felt like I couldn't give it anymore like I used to, or you know, then I would say hands up, it's now time. But equally, you get the holidays, which everyone talks about, I know, which winds me up a little bit.
Speaker 2:Because if I had a pound for everyone, I'd say you get all those holidays isn't it great? But you work a lot in that time. So, um, I I was starting to think about what could I do instead. You know what, what could I actually go and do as another career that would suit my family, that was flexible, had the holiday? You know what, what am I going to do? But actually then the answer is teaching. It's like teaching, teaching, teaching. So you kind of go. Well, wherever I go, the problems are going to still be the same. It's just going to be a different environment, different set of students. So, yeah, so I think I'd kind of come to a bit of a conclusion. And then I read about the academy and then I thought, actually this sounds flexible, this gives me the opportunity to still be with people, this gives me the opportunity to educate. And finance, obviously, is something I was already kind of passionate about, and part of it was just in the private sector, you know, a bit different really.
Speaker 1:So very interesting. So there was some crossover there and it was a point in your time where teaching was reaching its peak of burnout. There's a lot of teachers I speak to have reached the point of burnout, like fatigue. They're genuinely fatigued, and the harder you work in teaching, the more energy you effort that you put in. The kind of feedback I'm getting is it's kind of you don't get anything more right, you get a. You don't get more, you'll get paid performance related pay, for instance right, um, it almost becomes, as well as culturally, a bit of a thankless task.
Speaker 1:Every body in every area of teaching seems to be feeling the pressure at the moment. That's what I'm hearing and that's why, when I'm talking to people who work in teaching, it's tough. Yeah, you're right, which is a real shame, really, because it's a vital job, isn't it? Our children, um, and young adults. It should be something that we, we invest in and support our teachers to make sure that they are happy and, um, their well-being is is looked after as well. You, you mentioned about a team there and building a team. Has that been something? Because, well, you know, we'll go back, we'll go into your building a business in a second, but the business. You know the business um studies that you were teaching, the finance side that you were teaching and the building the team internally. Have they been transferable skills that you've taken into financial planning?
Speaker 2:uh, yeah, I mean definitely working within a team.
Speaker 2:Um, I managed a very small team and I was part of a much bigger team, but yeah, you working with other people and knowing who you can call upon and how they can support you and how you can support them, yeah, it's massive.
Speaker 2:And I feel now, even though I'm one of, that was one of my biggest concerns actually going over and becoming self-employed on my own. I've gone from being surrounded by people in a workroom all the time where you can just come in from the lesson and you know vent or ask for help, or you know what do you think about that? Or can someone just read over this, what do you think? Or you know, just to chat and run ideas off each other. I'm on my own now. So I've gone from all of that to now on my own, but actually you're not, because you speak with your clients every day. You've got people within the system or within SJP that I can pick up the phone to and I feel like I'm automatically part of a team and I do kind of work in different teams as well. So, um, so I've still got that that that team feel.
Speaker 1:Yeah so moving from teaching job for life security okay you know, it. Pension, all those typical types of things. You know it inside out. It was your those typical types of things. You know it inside out. It was your dream job as a kid. So then, moving over to financial planning, how long did it actually take you to make that transition and actually join the academy?
Speaker 2:I think from the time I made that initial phone call and then someone calling me back, from the time I think I actually started was, I want to say, about nine months.
Speaker 1:Okay, interesting.
Speaker 2:It took a long time because I like to ask lots of questions. I like to be 100% sure I'm not one of these people that just goes for it. You know it takes a while and you know I've gone from, like you said, that security going to the place I've known for 16 years. You said that security going to the place.
Speaker 2:I've known for 16 years doing the thing that I could do, with my eyes shut to a completely different business, a completely different sector. I'm now doing it on my own, no financial support. You know, I'm self-employed. Um, I had to be. It had to be right and I had to do my due diligence really, and I had to make sure. Had to be right and I had to do my due diligence really and I had to make sure it was right for my family as well, as well as me.
Speaker 1:OK, now, in that nine months, what were the questions that you were asking? What are the key things that you might have been worried about, or the things you want to evidence? Or perhaps were you doing some learning during that period? What took place in that nine months? Because will be people like you that are kind of want to run through the due diligence, they want to understand it, um, they want to make sure it's the right thing. But for you, why nine months? And what was it that you were checking out?
Speaker 2:well, I had to obviously find out the the. I had to find out the finances. I couldn't put my family into financial difficulty. There's no way I would do that and there's no guarantee. You know you're self-employed, so they can't say, oh yeah, you'll definitely earn X amount within so many months. There's, you know, none of that. I needed to know that I would be supported whilst I was in the academy.
Speaker 2:I needed to know that I would be supported whilst I was in the academy, so I could get financial pay in that time, so I could actually do it. I had to think about how others as a family would get through the time when I wasn't earning, or potentially wasn't earning money. So we had to work that out as a family. I needed to know as well what was expected of a family um. I needed to know as well what was expected of me and what I needed to do as well. So, yeah, I did two exams um myself and I had to sit whilst I was still teaching um and I guess in a way it was good because I had it proved to me.
Speaker 2:I had to prove to myself that I could do it and I had you know, a bit of competency, but it proved to St James's Place that, you know, I was committed and I was able as well, um, and I did spend a lot of time reaching out to people and, um, the guy, um, rick um, who I'm really really close friends with now, who, um, who basically onboarded me, um, he, I asked him to get me in front of people that were already either in the academy, having just been in the academy, um, or never been in the academy but in St James's place, that I could go and speak to and ask as many random questions as you like. But you know, I just wanted to hear from lots of different people their experiences and would I fit. You know, is this right for me, is this right for my family and is this something I can do?
Speaker 1:So those internal testimonials of people that have gone through the pathway and actually come out the other side and are reaping the rewards. You wanted to understand a little bit about, perhaps those challenges that you can preempt. I think one of the biggest ones with anybody getting self-employed is can I cover the bills? When am I going to be able to cover the bills? Can we afford to do this? Did you make a decision to save some money during that nine months? Did you have a plan of knowing that you could cover the bills for three, six, nine, twelve months? Was there a um? Was there a plan like that in place for you personally?
Speaker 2:yeah, I mean, um, you know, young family, um, my husband actually works in the nhs, um, and I was a teacher. We're not big earners so, um, child care costs are obviously really, really high. So we couldn't save loads and loads and loads and loads and loads, um, but we just made some, you know, changes and made sure that there was enough. I think we made sure there was about six months worth of money there so that if I wasn't able to know, write any business or get any clients or, you know, make any money in that time, that I had something in place. Really.
Speaker 2:And I suppose, if you like, that's like my first experience of financial planning, because I'd always had that guaranteed income and, you know, you always know what you're going to get, um, you know. So, um, yeah, but we, we made sure it worked and, um, we do, we did have family that said, you know, we support, we support this, but, um, yeah, that's it. You just, there has to be a leap of some point and I think, and the more and more was going into the SJP bubble, I wasn't going on my own, on my own, you know, I had all the mechanisms in place to support me and look after me and develop me so that when I was ready to leave the academy, I was ready.
Speaker 1:I was ready as I could be anyway how long did it take you to go through the academy? I know you did your first two qualifications and you have to do that to join sjp. Did that at your own time. But when you then said, right, I'm gonna join the academy, did you leave teaching, join the academy. And then how long did that actually take before you were let loose?
Speaker 2:okay. So, um, in good teacher style, I handed my notice in so that I I got my students all in exactly in the right place that I wanted them to be before I left. That was another thing. When you talk about how long does it take, you can't just switch that off, you know anyhow. So, um, it was february half term, so I made sure that my notice was in and I had February half term and then I went straight into teaching. Well, it was a bit harder for me, actually, sadly, because I left teaching on the Friday and on the Sunday morning I actually found my mum. She'd had a massive stroke, and so that actually threw all sorts of other spanners in the works for the the year ahead. But, um, yeah, so I left my 16 year teaching career and my mum got very, very poorly very, very quickly.
Speaker 2:But you know it was a, it was an instant thing. I I didn't give myself a break, you know I never do, but yeah so, and then I was in the academy, full-time, as it were, for six months. So three months of hard exams, and it was constant exams. Um, and with my um cohort NFA 12, the best cohort ever, there's another team that I honestly when you talk about support. But that group of people, that relationship you build with those people that you train with, you're all going through exactly the same thing. You've all just left your jobs, you're all developing at the same time, doing the same thing. So if it wasn't for that team and they didn't make us feel so, uh, comfortable and connected, then you know it wouldn't have been so good. But um, yeah, um, and then we did another three months where we were more face-to-face, so we'd done the formal qualification and then we were learning more observational skills, more advisory skills, um, okay, um, so, yeah, so after six months, really, so okay, that's it. And then you're loose and then you're loose.
Speaker 2:But during that six month period there is some financial support for you yes, yeah, the academy will provide you with financial support along the way, which is a set amount. And and again, that's something you have to factor in when you, when you join a new career. And I was grateful because, you know, I've always paid for my education, my degrees, my PGCE. You pay for your education. When actually, this time, I was selected and they paid for me and I thought again, too good to be true, like, how does that work? But obviously you know you, you have to. The selection process is vigorous, it needs to be, because you've got to be the right people, um, to do the role.
Speaker 1:So and did that give you confidence in St James's Place that they are vetting people the right way, they are entering the business and becoming financial planners and responsible for clients future financial needs and well-being yeah, I mean, I, it's a really big job, isn't it?
Speaker 2:and it's it's a responsible job, and then you know it's very accountable. So I think, um, yeah, I think it's absolutely um right that that they, you know you go through such a tight process, um, and and they do really do check to to check that you're okay financially as well, because you know they want to make sure that you're okay, um, and you're not going to put yourself or family at risk. I remember having that conversation quite a few times, so I'm grateful that they were so um strict on.
Speaker 1:Sounds to me you're a naturally academic person who likes to learn. That's my assumption. Is that correct?
Speaker 2:Yeah, I love to learn. I'm not naturally academic. I do have to work very hard. I would say.
Speaker 1:You have to work very hard. Ok, well, that's interesting. So tell me, were the exams and the qualifications tough?
Speaker 2:Yeah, 100%, and I did. You know the teacher in me was trying to make a little schedule. Or, you know, teach yourself. You know I'm very good at teaching other people. I don't know how good I am at teaching myself, but it's different, it's a different discipline. But, um, yeah, I think as long as you reach out to all the support that's available to you, then, yeah, you'll be absolutely fine now last last time I checked, teachers aren't in their classrooms selling themselves and their services to their students.
Speaker 1:Okay, maybe you're selling a concept or an idea or trying to bring education to life in a fun way that they learn in a different way and absorb the information right. How you come through the academy, you get the qualifications. Now we all know the qualifications don't make the financial planner. They don't make you a financial planner. They just give you the qualifications to be able to give the advice. What makes you a financial planner is your ability to win and prospect new clients, develop relationships with them and continue on that process throughout your financial planning career. So you build your assets under management, you build your loyal clients and you generate referrals and hopefully you build a fantastic business that you can one day exit and sell and it's got a value. That's one of the long-term benefits of building a financial planning practice on a self-employed basis and that's one of the benefits of joining St James is placing their ecosystem.
Speaker 1:Yeah of joining St James's place in their ecosystem. Yeah, but 16 years working as a teacher did you find the prospecting side difficult? So what we would call business development prospecting for clients generating new business did you find that tricky? Um at all?
Speaker 2:yeah, I think it's. It is difficult because you're constantly in a when you're teaching, you're constantly in a community and you've got a free flow of people coming through all the time, but obviously the second you leave that you now need to go and go and find, find your clients, um. But I think what someone made me realize, because I remember them saying to me you know, where's your client base, what's your network? Like I've not got one, I don't, I don't, I don't know. And they said, well, talk to us about you.
Speaker 2:And I was like, well, sounds a bit boring. I'm on the PTA at the school and my son play rugby and I play netball and, yeah, cricket, we're involved in the cricket club and and then and then, before you know it, I've just I've just, basically, and being a teacher, all those ex-students as well, not just teaching. You know people I've taught over time, but and people I've worked with over time, I've been a part of a lot of communities and I am still actively part in a lot of communities. So I think you'll you you don't realize until you sit down and think about it um, that yeah, it's about your connections, it's about who, who you're involved with on a, on a day-to-day basis really, and you just need to look at things slightly differently and also you come.
Speaker 1:You know let's get back in the conversation to earlier you'd never come across a wealth manager or a financial planner in your career as a teacher. So that tells me that teachers is a market that aren't exposed to financial planners and you understand both sides of the fence and therefore you can communicate with them and understand with them the pressures and the stresses and the problems that they're under, because you've done the job. And then there is that crossover. So that's an interesting area as well, and there are companies out there that do that, like Wesleyan, for example. They focus on teachers and they focus on dentists and they focus on lawyers. It's an interesting niche.
Speaker 1:Now that's interesting about the communities and you know, understanding your network and leaning into that network is a really powerful way, but you also have to position what it is that you're doing to those people and often people feel uncomfortable doing that with people that they might know. So how do you feel that you know? What was your strategy to that? So, because someone's going to listen to this and they are going to be thinking, how am I going to do this? How am I going to position myself? How am I going to get those people that I know or the networks that I'm in, how am I going to get somebody to essentially become a client of me as a financial planner?
Speaker 2:that is a really good question and a tough question. Um, I think I, I think, really, you, you should just continue to be yourself and do the things that you really, really value. And I think, when people, if they want to work with you, um, you need to build that relationship and that trust and I think, from my previous life, having worked with lots and lots of people genuinely being there to help them, there's no, you know, reward, my end, or financial exchange or anything like that. I think a lot of people thought that they could sit down with me because they knew I would go above and beyond. You know that I would, I'd work really really hard and I've got that really, um, hard-working ethic, sort of thing. So, um, and I think sometimes, um, you'll be surprised I, I think that's something I've been very surprised with.
Speaker 2:Is that, um, yeah, I, I don't, I'm not a sales sales person. I don't like sales. Um, I just like to have conversations and like to find out about the individual and how is it that I might be able to help them? Um, and a lot of people don't realize that they need help or they don't like me. I didn't, I wasn't exposed to anything like that. So I don't need that service, um, but yeah, I suppose, again, it's that educational thing. Back to education. You know what do you need? How can we help? Did you know about this? Is that something you you know you'd be interested in, or is that something you you found difficult or that you're worried about? You know? So, um, yeah, I think it's the relationship thing. When people get to know you and they get to know what you do, then they, they make that decision, whether or not they think actually that's something I need help with, um and then they reach out they reach out absolutely so they hear about you through your networks.
Speaker 1:They see the work you're doing. Perhaps somebody else talks a little bit. I suppose, when you bring it into conversation and you're naturally a conversationalist anyway you're naturally meeting other mums, you're having conversations with them, you're sharing what your career switch has been like. Perhaps it will just bring up natural opportunities to um to position I suppose, uh, financial planning, because your story is one of discovery.
Speaker 1:You know you didn't understand the financial planning profession but you can now see the benefit of being in the financial planning profession and having a financial plan yeah, so much so that you now work within the financial planning profession.
Speaker 1:So I think it's one of those interesting stories and it's like let me tell you how I ended up becoming a financial planner. It was because I didn't have a financial plan and I didn't understand the benefit. I even switched from teaching to financial planning because to me it's a beneficial career and I think it's going to be beneficial for you. If we sit down and have a conversation and talk about your financial plan, have you got one? And I think it's yeah, it's a great, it's a great position and I think also being in a position of trust as a teacher and then transitioning into financial planning, I think it's like it's respected. So they people instantly will respect and instantly trust the teacher.
Speaker 1:And I like what you said there about not being a natural salesperson. You're not constantly looking for the way, the angles, the kind of manipulative approach sometimes that sales can actually have. It is just education, education, education, it's teaching, teaching, teaching. It's giving, giving, giving and having a safe space where people can openly have a conversation and and talk about it, because not everyone wants to talk about their finances. It's a tricky one to talk about, you know, dip up a lip and all that um, but I suppose having that kind of calmer approach to it allows people to open up and start talking about it, which is quite good. Um, interesting. Do you go after? Do you do? Sorry, you carry on. What can you say then?
Speaker 2:no, I'm just going to say I think if you, if you, really people don't know necessarily what they need and and I think, if you really do tune into what, having that emotional intelligence and and wanting, genuinely wanting to understand people, even you know everything, my window cleaner, you know I have a conversation and you know you just, I, I'm. My mum used to say to me that I would you know everything, my window cleaner, you know we have a conversation and you know you just I'm. My mum used to say to me that I would, you know, sit the back of the bus when I was three and I'd literally be by the end of the bus journey. I'd have got someone's life story, because I was that three-year-old. That just wouldn't, you know.
Speaker 2:I'm just really interested in people, but, um, I think one, and now I know what I know and this is what this is one of my. I don't know if it's a strength or weakness, I just want to tell everyone about it Because I think I didn't know that you could do that and I didn't know that this was available. And, oh, my goodness, I know five people that do that job. I'm going to go and tell them now. You know, and it's, and that sounds a bit in your face, but I just think they probably don't know that because they've never known that. Why would they know that? Because they've never spoken to an advisor before. So I think, um, yeah, there's certainly everyone.
Speaker 2:I just I just like to sort of spread the word and I think connecting other people as well is something that I think is really beneficial, and maybe that's again why I speak to a lot of people is because if I know that person over there can help that person over there, I'll happily marry them, you know, and get them to work together. Because I'm again, if I know something, I have to spread the word, you know, and if I know that person's going to really benefit someone, I'll, I'll help them. So, um, yeah, that's the strength that's.
Speaker 1:That is networking, isn't it? Networking is about building a network of influential people that you can refer other people to because they're experts in a specific subject that you are not. That, ultimately, should be able to help somebody else. So you're always thinking who in my network are people that I want to surround myself, that are adding value in people's lives, that I can add, and then referring them in would be a beneficial thing for that individual?
Speaker 2:I like that it's signposting, isn't it?
Speaker 1:it's signposting.
Speaker 2:Yeah, I love the community, in the, in all the communities I'm part of, there's so many unsung heroes in each part. You know, like you have no idea what goes on in that. That playground is full of absolute like people that I just think I can't live without them for one reason or another. So we need to. You know we've all got those little support networks. We need to kind of spread the word in our own community.
Speaker 1:So so the strategy for you and is what I'm hearing is get out and talk to people regardless. Just go out and meet people, have conversations, be, be nosy, be inquisitive, you know. Be curious. Don't be afraid to have conversations, because every conversation, if you're not having conversations, you're not creating opportunities. But you're also not thinking what do I get out of it? What do I get out of it? You're also trying to understand who that person is. What makes them tick? What do they do? How can they add value to somebody else? And I often think that way as well. I'm always thinking that way.
Speaker 1:I'm very interested in others. What do what do you do? What's your purpose? How do you help people? What do you care about? What are you all about?
Speaker 1:And those people that are really lovely, it just shines through, it comes up and then you're like right, I want that person around me, I want to be surrounded by people like that.
Speaker 1:So I'm picking the people I want to be surrounded by all the time, and the people that lift me up, the people that add value, because I want to be able to say I know somebody who can help you there, because nothing's better than given a referral as much as receiving nothing is better than giving one, because the more you give, the more you get back. It just works in that way and, um, it's giving it to the right person who's going to give you the right stuff back, and sometimes you shouldn't expect anything back. Sometimes it's just quite literally about doing the right thing and passing somebody in the right way. I know people that I refer to all the time. Right, I've never had anything back. It doesn't bother me. It's because the person I've referred has a great experience. So the person that's been referred might then come back to me or might refer people into me because it's a um, because I've done a good thing for them you know.
Speaker 1:So people think, positively and do positive things, so that's a really important one for me. So just has it. How has it been? How long have you been advising on your own now with st james's place?
Speaker 2:uh, it's actually been just a year, only only a year now. So I've had my first year, which has been so I've had my first year, which has been phenomenal, absolutely amazing.
Speaker 1:Yeah, describe that. Why is it being phenomenal? Because it's a fantastic word to describe it is a big word, isn't it?
Speaker 2:for me, I think it's just proven. I've proven to myself what I've been able to achieve, um, personally, you know, going from being the teacher to now doing something completely different. I've met some amazing people in that time, both um internally in St James's Place people I hope I keep forever, um, and people and clients, you know, every every week, I sit in front of new people and I just think I'm just in awe of quite a lot of people actually, um, and, and I like to take a little bit of everyone that I I meet as well. So, um, and yeah, I've not had a quiet day. I've been very, very busy. I feel very lucky in that respect and I feel like I'm finally.
Speaker 2:It's taking me a while, but I'm finally adapting to my new way of life, because you can't just turn things off, um, from how it used to be, in that rigid structure, but now I'm, I can, you know, take time off if I want, and I I find it hard. I don't have to answer to anyone apart from myself, and I am the worst boss ever. Fyi, oh, dear um, but no, in the sense that I'm not very good at you know, you're a business owner. So, um, I just constantly, um, I'm thinking, oh, I should do that for so-and-so, and I should do that for so-and-so.
Speaker 1:So, um, I'm learning, it's every day's different, every day's a school day, as they say um but yeah, it's it's been, yeah, it's been brilliant so this work-life balance then you're talking about, okay, taking some time when you want to take it, you're your own boss, you're a partner of St James's Place. How has that affected you in your family, your children? I mean, it is the dream to run your own business and be flexible and live your life how you want to live it. And when you say phenomenal, does that represent that part of it? Well, is that a big part of it, or is it the money you've earned? Is it the fact that you took the leap and it paid off?
Speaker 2:I think I have been able to be flexible. I think I will be forever grateful because where I did basically have to care for my mum pretty much, because where I did basically have to care for my mum pretty much and sadly she passed away this year, I would never have got that time ever in the teaching world to be at my mum's side whenever she needed it or take her out for an afternoon walk, you know, or wheelchair ride, whatever you want to call it, and so I'll always be grateful for that.
Speaker 2:I think, you know, with the kids I can pick them up, I don't have to race to go. Oh, my lesson. Hang on, I can't fit enough at lessons in the day to get my hours up to fulfill a salary. You know I I can work at night, which I used to do, but now I can be rewarded for that. If I choose to work five nights a week, that's up to me. But then in the day, if I want to go and go for a walk or go meet a friend for coffee and or whatever I can do that, I can go to sports day, you know, I can volunteer at eco club for my son. You know I can do whatever I need to do, which, sadly, teaching doesn't allow that structure, that workplace doesn't allow that. So, yeah, so that's been amazing, but I need to be, I need to give myself a bit more of that time, because I do just work, work, work, work, work, work, work. But that's just me, I think.
Speaker 2:That's just the person I am.
Speaker 1:Yeah, I've got that. I'm working on my boundaries at the moment and I've never been an incredibly organized person, I've just always worked and you know I'd roll over in the morning and look at my mobile phone and start working, you know and.
Speaker 1:I've really, really noticed it lately and I noticed it when I was running my own business and I love working. I really really love working, but I need to put time and energy into the other areas of my life. So I've started structuring my days and time, blocking my days and putting into my diary my personal wellbeing, my family time, exercise, all that kind of stuff. I'm really blocking the time out and making sure I'm doing specific tasks at the times of the day where I have the most energy. The afternoon for me isn't a great time for me to sit down and try to plan something. My brain's frazzled. The afternoon for me is sitting down and talking to people, because I get energized when I talk to people.
Speaker 1:So that's what I like about structuring your day and finding that balance. And I suppose, running a business for 16 years, I've always been used to writing my my own diary, working the way I want to work. Um, I did that with. You know the financial plan of life as well. But for me, I've come into an environment where technically I'm well, I am employed. I keep saying, technically I am employed by them. Now, right, and they want their pound of flesh. Of course they do, you know.
Speaker 1:But at the same time I must be more organized to build in those pillars of well-being as well and to really structure my day around how best I work and not go out like a bull in a china shop, because when you're running your own business you can often go out like a bull in a china shop. You know someone, you know you've got to do this, you've got to do that, and where I've come into like an employed place in this ecosystem, in this way that people are working for me, I'm I'm actually quite liking it, you know, I'm liking the structure and I'm liking the people that I lean into. Like you've got into st james's place and there's people in there, all different levels of experience, right, and you can lean into them whenever you want, right it's one of the most loneliest things is when you run a business, when it's just all on you and it's all on your shoulders.
Speaker 1:What I've liked about going into Hoxton, for example, is that there's all these different people, all these different levels of expertise, and I can lean into them and I can talk to them and I can pick their brains and I can use their expertise in the things that I want to do. And for me it's like, oh my god, it's amazing. Like it's like oh, it's not just me, I'm not just one person trying to manage a million and one things. So for me it's been like a real eye-opener that can kind of go one. You can go the other way, you can go back from being self-employed, going back into employees and thinking this is wonderful, and then you can go from effort. But it's about where I think I've understand both sides of the fence.
Speaker 1:I think now I'm working out how I can get the best of both worlds and I think because I've got the financial part of life and it is still my business and it is a business that creates an income. So I'm technically self-employed and running my own business over there and over there unemployed, but I'm also employed over there helping them build their business. You know it's a, I don't know. I like it. It's nice and I think we just got to find that balance in what we do. And if you're going to go self-employed and you're going to become a financial planner, all the will in the world right, you might make it a success, but you're gonna need support as simple as that. And I think when I do that's why I work with st james's place right, they get a bad rep a lot in james's place. Their academy is phenomenal. It's like there's no one's really touching their academy. We're doing a brilliant job at Hoxton with what we call the pathway, but SJP have been going for some time. They've invested a lot of money in that academy.
Speaker 1:I think it's been about 28 million a year right, and they've got a lot of time and energy in the training and the development and the refining of it to make it a really great experience. And I'm pleased that people like you, who do their due diligence and are risk adverse and want to make sure it's the right thing to do leaving a career like teaching and going into financial planning I'm glad you used the word phenomenal at the end of it because for me it means I'm promoting the right process to becoming a financial advisor, because you're living proof and you're doing it. I'm pleased for you. I'm really really pleased for you and I think, really the icing and it's sad that your mum died, you know, and it's sad what your mum went through, but it's again it. It came at a time when you just started the academy and it just gave you that flexibility, didn't it? You know? And if you didn't have that, how different that final year would have been.
Speaker 2:eh well it, I couldn't even think about it. But and and you know, the academy and all the people in the academy knew what I was going to going through and I rang them the second mum had it and they said what do you want us to do, laura? How do you want us to support you? And it was just yeah, um, amazing. And you know I've done a lot of training in my time and while I was even in teaching, um, I I did lots of other management qualifications. I did an accountancy qualification.
Speaker 2:I was just one of those person that you know loved to keep going, but I've the training that I received, in my opinion, was just brilliant. You've got real experienced people that know the job, that know the sector, and they're and they're literally imparting all their knowledge and and and, like you said, this technical stuff. You know I don't think I'm the most technically minded, despite my qualifications, but I know I can ring up, you know, a whole raft of people that are so technically specialist in their area at St James's Place, whether it was within the academy or now. Having not, you know, having left that, that I don't feel alone and I will always find the answer and I'll always then get the best outcome for my clients and and for me really, because there's always someone out there yeah, I love it, that's well.
Speaker 1:That's music to my ears that you're getting that level of support. Um, because that's the most. One of the most important things for me is you're not just chucking somebody at the deep end. You know there are people there that have tried and tested, trodden the path and they are helping, support you in every area of your business, growing your business. Now you are a partner. Are you going to stay just yourself? You were saying that you have a lot of ambition and you work hard, so do you have aspirations to grow the business and hire advisors in the future? Is it a lifestyle business? Where do you think that you're going to make an?
Speaker 2:investment into your business in the future and why I think, um, I don't see myself having um a big practice. I see, and for me, my values, what I wanted to achieve is that, um, the local community or people would say, you know, I need some help with something. I know I'll ring laura and and they will ring me um, but you know, I I also like to build that support around me and have experts in the field and outside that I can draw on so I can support my clients. So that doesn't mean me employing people, um, but it does mean me having this sort of like toolbox of really wonderful people that can support me and my and my clients.
Speaker 2:Um, I think, um, I don't want to detract from what I do and that's going to see clients and going to help people. So if it, if it become too big and I ended up managing lots of people, then I don't feel that then I would have the same impact or, you know, deliver the same value. So I think for me it's about working with people, but not necessarily, you know, having this, this big practice, really. So perhaps, yeah, maybe, it is a lifestyle business, because essentially that's why I chose to, you know, leave my previous life is to to build a better lifestyle for me and a better quality of life for me and my family.
Speaker 1:So um, but yeah, I'm very open-minded person.
Speaker 1:So I will say I never say never to anything, but um well it's an interesting one and I think you know that's a that's a great way to to lead the business. So if you've got, if laura north wants to grow clients, for example, there's only a certain limit you can go to. So you've got to start thinking about who you got in the business to support you, right? So maybe it's a business. I know financial planners that have got. You know one financial planner has six people in their business but he turns over a million quid, you know. So there is that ability to be a financial planner, a practitioner.
Speaker 1:This guy works, um, he works. It's warren shoot. Actually, look him up, warren shoot. Um, he was on my podcast. Good guy. He does like a course actually for financial planners that you can follow um to be able to structure your business in a way that you can run it as a solo practitioner and earn over a million quid a year, and he's been doing it for quite some time. He's a really good guy actually. He's on the podcast, worth a worth a look actually and worth a listen.
Speaker 1:Um, I think if I was a financial planner i'd'd be aiming for that you know I'd rather have a team of people around me that are working with me and supporting me, as opposed to having like five financial planners, because five of me would drive me insane.
Speaker 2:I think you know yeah, and I think it's about getting the right people that you want to work with. You know, because in time I could you know, I could tomorrow meet someone and go. We'd make brilliant partners. Oh, I'd love to work together and actually there's people that I've already worked with and I think it'd be amazing to work with them on a full time basis. So so, yeah, I'm very open-minded, open to suggestions and and, but as long as what I do I believe in and that it's, you know, right by me, my family and my client base.
Speaker 1:Really, Well, laura, it's been a pleasure talking to you. I love your honesty and genuineness. You're very genuine. I believe you when you talk about your journey, and that's the most important thing, and I think people need to listen to stories like yours because it's honest. It's a true reflection of what you've been through, especially through St James's Place and the Academy, and where you are today has been amazing. Welcome to the financial planning profession. We need more people like you in it, and thank you for sharing your journey today, because you're only going to inspire other people to take that leap, to move into financial planning, especially women as well. You need more women. Okay, talking about it is also because more women will listen and more women will then follow in your footsteps and, um, ultimately, the higher purpose of more financial well-being for everybody that needs it right in the uk.
Speaker 2:That's a really important thing as well yeah, it's nice to be able to, and I've continued on my educational stuff. I've been able to go into schools and, and so I still get that little bit and you educate every day. You know, I've always said this I'm I'm still a teacher, I just teach a different subject and that's gonna. I hope that sounds like it's going to become my strapline, but it it really is, because you know, you, you still you're on a one-to-one with someone and and you, you just find out about them and how you can relate to them. What do they need, what do they not need? And and teachers are doing that every single day um, they're, they're planning ahead, they're thinking about the individual, they're trying to achieve um and they're trying to support and look after people.
Speaker 1:So, um, yeah, maybe, um, maybe you should explore the whole um niche of teachers as well. You know the, the teacher's financial platter. There's got to be something in that, and obviously people do do that, they do hang their hats on it, but I mean, there's a huge opportunity there. Quite there's so many teachers in the uk yeah, they're the same but they only come out at half terms.
Speaker 2:They pop out like little meerkats. I remember that, uh, because you don't, you're right, you're like this. And then, the term as you come out, get a cold, spend half term ill and then you go back again.
Speaker 1:So yeah, teachers, they're creatures of routine so any teachers thinking about changing career, why not take a look at financial planning? It worked for you, so it could work for them, right?
Speaker 2:absolutely 100% cracking.
Speaker 1:Laura, thank you so much for your time today. Thanks for sharing your journey on the financial plan of life oh, thanks for having me, sam cheers.
