April 13, 2022

Delivering Cost-Effective Advice with an Entrepreneurial Mindset #2 – Transcript

SERIES :

Delivering Cost-Effective Advice with an Entrepreneurial Mindset

Share :

LinkedIn
Twitter

Fraser Jack
Adele Martin, thank you so much for joining us. In this episode, I’m really looking forward to this getting into your journey and all of the different entrepreneurial mindset and ways of thinking that you’ve been doing, you will be bringing to your advice, practice over the years and where it’s heading in the future. So thank you so much.

Adele Martin
Thanks for having me.

Fraser Jack
So let’s go back. Let’s go back in time from the beginning, you know, you’ve obviously, we’re in an advice practice. And you know, obviously, there was some fairly high pressure on you to become a traditional advice, practice and work with retirees and help them retire and all that. And that’s something that you went hang on a minute, I can do so much more.

Adele Martin
Yeah. So I started by accident, financial planning, I don’t know if that’s how most people start. I didn’t an accounting degree. And whilst I was finishing that degree, I knew very clearly, I did not want to be an accountant. So it was probably the single most boring degree you could possibly do accounting theory on a Friday morning. Not fun. Anyway, finish that degree was doing it. So I should get some experience in an office somewhere happened to get a job as an assistant for financial planner, I had no idea. I didn’t even know what superannuation was, I was 19. No idea. But what I could start to just knew as an office, I could start to we had a petition wall and was for a bank, we had a petition, Warren, I could hear the conversations. And I quickly realized that it was really much people focus, which is what I loved. And it’s very much future focus, which is what I loved, because you can change the future. Accounting was all about the past, you can’t change the past. And it also didn’t have a very big people element to it. So yeah, that you might have some accounts to argue with that. But that that was largely my experience. So I sort of then was like, Well, you know, this is cool, I want to I can see how this could be a career. And you know, it was offered a pretty amazing deal to stay at the bank. Even after I left, they, you know, wanted to have a catch up to try and get me to stay. And I just knew it wasn’t the right I cook, you know, some very big now and it wasn’t at the time. Now looking back. I know, it’s it’s very big on this introvert intuition, and what that says, and so very much tapped into that just didn’t feel like the right fit. So then I took a job as a power planner for not very much money at all. But I knew that that’s the background that I wanted to do and wanted to get that tech background to give me that confidence in front of people. And then I went into, you know, being an advisor. Now this very much was a traditional financial planning business, as in retirees, you know, come to you at retirement, pretty much most of them were at retirement, and you were helping them manage, I think the first big job that I ever had to do, when I was in this advice space was help a lady plan for her husband’s funeral. So I had to go and get all the costings and come back to her and he wasn’t even passed away. And I had to tell her how much we had a budget for the funeral. So that was pretty much a baptism of fire into that space. And yeah, but I did, I loved I did love working with my retirees. Like, you know, they were beautiful, that sort of people had all the time in the world, they wanted the one of the guys would just come in and read the paper where his wife did the shopping, he just liked sitting in the room that didn’t let me develop some skill set in estate planning, I knew about the importance of estate planning that had to be more than a wheel. And so yeah, and then even you have a will and all the documents, that’s absolutely useless, because you have to know where the assets are, and all that sort of stuff. So yeah, I just, it really opened my eyes up to, you know, the importance and that space, I then bought into that business, I you know, with the plan to be the exit strategy of one of the owners and to help with retention, which I’m sure a lot of people listening probably have the same thing. Now that didn’t work. Now, it didn’t work for a variety reasons. One, I know, I knew I wanted to work with younger clients. We were having this conversation, you know, where they would saying, I wish we saw years ago, I was seeing people that we’re having to work with bad backs, bad knees, all that sort of stuff. And now we’re having to rely on the age pension. You know, they couldn’t do all the things they wanted to do. They had this regret. So they reached they saw someone earlier. So I knew I wanted to work with younger people. So that sort of triggered something in me to start with, I knew was going to be difficult in the current business. Now I didn’t I didn’t know this at the time. But having done some personal development stuff now and had another business partner after this not working, which I’ll get into, I realized that it’s because we were two visionaries. You cannot have two visionaries work together. It does not work. Two visions you need there’s something called rocket fuel. There’s a rocket fuel quiz you can do, which helps you figure out whether you’re a visionary or whether you’re an integrator. So a visionary needs an integrator to get this stuff done. You cannot have two people living in the future two visionaries. It doesn’t work, they clash. And so that’s what I reflected on what I’ve learned. But what happens is visionaries attract other visionaries because they like them. I like talking to them and they’re fun and cool and they’re in the future. It doesn’t work in a business partnership to have two people like that. So exited them and at the time I was working with a motional intelligence coach. And he said to me, he asked me one question about all if you had these FBI job and earn this much money, would you go and like no, it because it wasn’t about the money. And he was like, Well, I want you tomorrow to put your notice in and I said but I don’t have a plan like I don’t know Oh, where am I going to be? I don’t even have a license who’s gonna let How am I going to exit because I bought in. So it was very messy. So, yeah, that but I did it with a lot of nerves and Lee being sick I put my notice in the next day with no plan. A week later, an accountant came to me and said, Hey, I’ve got a space, you can share an office with me and you know, I can give you lead, we can work together. She had been in the industry where accounting for a while. So yeah, once you say yes, and take that, that leap, you know, the universe tends to give you the right path. So yeah, that was I was gonna be the exit plan. So in that though, something else I learned along that way is we I bought in just before GFC. So if you have a business that’s on a 1%, and you bought in funded with debt, you know, quite a bit of debt into that business. And it’s a 1%, you know, recurring revenue model, and the markets for Sky, you’ve still got that debt to pay. So what I learned very quickly was how to be very good at service packages and positioning fixed fees. And so at the I think I wasn’t even 25 I think it might have been 25, I was having all those service package discussions with, you know, I was the lead advisor, because I was motivated to do it, because I had the debt to pay, but also was the right thing. Why should we, you know, link what we do to the money they have, it’s the same amount of work. And so it was always and because I’ve done the work because I’ve been apparel planet, because I’ve been admin, I think I could really understand why you needed to charge that. And so yeah, I had all those service package discussions, we’ve got everyone on fixed base. And so yeah, it really got to a different service package offering for retirees. And then yeah, and then I went, you know, by myself, grew very, very quickly. When I grew very, very quickly, you got different coaching and help. And then thought, Well, I wanted someone to do the back office stuff. So I partnered with somebody else. Within six months, we realized it just wasn’t the right fit. Again, two visionaries did not work together. So might be you know, amazing as different businesses, but together, you can’t have two visionaries together, so exited that within six months. And what I love about this is every failure, I say, leads to an amazing opportunity. It’s a lesson that I’ve learned, I don’t see mistakes, as I don’t think mistakes, I just see learnings and lessons. And if you’re not making you know, mistakes or less, you’re not growing and evolving. So I actually think that second one is what propelled me to create my money, buddy, if I want to have a bigger impact, and I don’t want to have a big team in the background, and I’m not going to have a third business partner, although I might I don’t know, how, how am I going to do this? And so that’s what helped look me to create. Okay, let’s look external, what other places doing let’s create my money, buddy. It’s a six week program that people go through. And yeah, that’s how that got to that point. Now that’s grown and evolved since then as well which we can get into. But yeah, that’s leads us to pretty much now Well, that’s

Fraser Jack
it’s a great I love the I love the chief visionary officer idea too, that some that’s something I’ve I’ve played around with the weather for a while. And you’re absolutely right. I’m a visionary. And we could never work together, we bet we’d have an amazing ideas, but nothing would ever get done. And the integrate. It’s really interesting that you put that together with it having the integrator and obviously we’ll go through some of your journey through my many buddy, how did you then because that’s the that’s where the proofs in the pudding. Right? It’s like having a financial plan without implementing anything doesn’t work. The same as having a great idea or a great vision without actually implementing doesn’t work. So let’s, let’s talk about that, you know, you’ve come up with my money, buddy, you’ve got this concept of how do we create a group? How do we do a, you know, a one to many concept and the financial advice base, which has always been this traditional one to one, or you know, when to a couple, that we’ve got an advisor, we’ve got a client, they sit the room together, and they work it out individually. Now, for many people. That’s a that’s a headspace thing to then go, how do we then provide value, financial advice space to many people under the current regime that we’ve got. So let’s let’s dive into that from

Adele Martin
so I can tell you what I what I did, the mistakes that I’ve made and where it is now and how it’s evolved to, because it’s not just, it’s not just our head, it’s the fact that, you know, clients money is such a taboo thing. So I had this thing once that someone would rather you know, go naked and tell you how much they were earning. Like, it’s such a taboo thing money. So yeah, definitely, that has some stumbling blocks and whites involved. And also, people don’t want more information than what helped to actually make sure stuff happened. So I can tell you what it was and how it’s evolved. So going back a couple of years ago, I concentrated very much on budgeting and cash flow. So we also had a technology provider that was part of that I thought it made it super value to have the technology provider as part of that. Couple of things I learned. Firstly, nobody wants budgeting advice to attract great people that they want, what the outcome is the goal. They do not want to budget. It’d be like, again, I look to dieting. People don’t advertise, come do this amazing diet and beyond 1200 calories. No, nobody wants that. They want the amazing Beachbody. They don’t want the 1200 to do it. Now we know that they have to do that as part of it. But you don’t promote and lead with that. So that was the very first thing, you will attract a hope and broke people if you do that. Also, what I’ve learned is technology, you know, for tracking if that is important, but it’s not important, it’s not gonna help someone budget. Because that’s like stepping on the scales and thinking that if you just step on the scales, that’s the only thing you’ll need to do to lose weight, you actually have to change your behaviors to lose weight. And so that’s what I learned, people got to stay focused on the technology and setting it up and having an old thinking they weren’t changing the behaviors. Fast forward, we did a version two. And also, what I found was, I didn’t have like, it was just basically information. And I just assumed, whoa, that you go ahead and you do it. What I found is people don’t want more information, they want help to actually do it. So you can’t just have a course on your website or a program on your website and think that that’s going to solve all the millennial problems. And they’re going to just do your course and what’s all there, they just can’t do it. You need to have some sort of coaching element into it to make sure that they’re actually, you know, celebrating the wins and doing the work. And as a place to grow, they get stuck. So what I’ve done is now evolve that into version 2.0 of my money, buddy, I’ve caught up my money buddy accelerator, steal my money, buddy, taken out the technology, we do not do that. I’ve given it a timeframe, six weeks. And I also do a weekly coaching. So a weekly coaching in a Facebook group for them, where they can submit their questions in advance, or they can ask the questions live. And we do that each week. And then what up so we’ve and then I’ve got some automations in the background so that they’re getting sent, you know, check ins regularly. I’ve also gamify with a bit by giving and quizzes so they can see how they were at the start. See how they were at the end? You know, as an example, how do you feel about money? Does it make you one? Zero super one super, super stressed? Or 10? Amazing? How do you feel? How confident are you going to plan for retirement? What and you can see where their gaps and where they were where they are. So we’ve gamified a bit all this is done, automated not involved in it. Regular lessons of regular automations go out. Hey, I’d love to know what the when you’ve had, what are you? What are you stuck with? What’s your right, next three things. So that automation stuff that happened in the background, we’ve got the coaching call. And the other new interaction, which I’m doing now is we’re adding a bonus where they get a bonus strategy session once I graduated by money, buddy. So and now my money buddy doesn’t just do budgeting, it does investments in superannuation, and a lot of mindset stuff. So I’ve got a whole section on mindset. And so it’s, I’m gonna say mindset, I’m talking about beliefs around money, so you know why they might feel a bit stuck, you know, childhood stories that have come up around money. So we’ve got a whole section on that. And the importance of who you hang around how you talk about money, all that sort of stuff. So yeah, so this program, now the end of it, they get a one on one strategy session. So that strategy session is a chance for us to say, Okay, what have you done, uncovering those gaps and opportunities, and then if they want help to implement, then we could look at what you know, personal advice and implementation looks like. So yeah, that’s how it’s evolved. And I partner with another advisor to do that bit of it.

Fraser Jack
I’m just going to, I’m just gonna unpack this a little bit. Because because I love it. So there’s, obviously there’s been you created this thing that you thought was perfect at the time, obviously. And then you have evolved and evolved and evolved to be this thing. I love the idea of gamification. I love the idea of putting a framework around the six weeks and calling it a program and getting to the end of it. And graduating from the end of it. I think that’s really important too. Again, people will come in and understand that. And you know, mindset and habits, we all know that that’s you know, habits are created from the original mindset. And if you try and fix it with the same mindset, you’re not going to fix it. So you need to change your mindset. And I really liked the part that you mentioned, just at the end there. You talked about acknowledging how people talk about money to their friends, and even coaching them on how they’re going to speak about money to their friends. One is obviously provide some referrals to you, but if they can get it right, but also changes that conversation of being, as you mentioned, before it taboo subject to something that they feel confident talking about.

Adele Martin
Absolutely. So we’ve got, I’ve got some really cool YouTube videos and stuff that I share as part of that training to show them the impact, you know, yeah, it’s it’s definitely a space I’m tapping more into. And clients love it. They love it. They want to know how to talk to about money with their kids, they want to know, should they have pocket money, you know, to their kids. So yeah, there’s a whole different section on that. And the clients really love it. They get a lot of value out of it. Yep. So

Fraser Jack
the stepping stone program obviously was a stepping stone towards getting, you know, football, financial advice, but it brought people along on a journey to give them the confidence to then step forward into taking financial advice. Tell me about that program over the last few years what the thought that’s done to your advice, well, it what it did to your advice business at the time and with regards to you know, bringing people in as leads, I guess, to the the advice

Adele Martin
Yeah, well, it’s what’s been really interesting is that it started as a $500 program, and now it’s $1,500 And so what’s really interesting is people will pay $1,500 Some of these people in the program, we’ve had 100 people over the last 12 months or so go through it, even though they’ve got other advisors, which I was like, why would you pay $1,500 If you’ve got other advisors, and came to the meetings were so rushed, they didn’t understand what questions to even ask to even know if their advisor was doing a good job. They’re in some X Y, Zed super fund, I don’t know why they’re in it. But they’ve advisory. So compliance focused, you know, taking doing the fact fine and doing this, you know, ticking off the assigning this thing, they forgotten that the experience for the client has not been great. So that’s been interesting that some of them actually already have advisors. And so I say to this, this is going to give you enough information for you to feel confident to do it yourself. Or if you work with another individual, you’re going to know what questions to ask. So to know, if they’re doing a good enough, good job, you should never outsource responsibility for your finances, accounting, financial planning to anybody else, you need to understand enough to know what questions to ask. That’s how people get into trouble. And so I position this as a program that people can educate themselves. So they that they can do one of two things, do it yourself, or have enough confidence if you work with individual to know what to ask. And I start with, I got a lot of pushback about people wanting one on one advice and still wanting one on one, I’m no longer taking one on one. So I can say here on heart, this is the best way that you can work with me, you’re going to learn the most, you’re going to be more educated than pretty much most of the population, the money, you’re going to come out the other side, you’re very clear on how to build, how to build wealth and how to reach financial independence. So I’ve gone all in on it. This is the best way for work with me. Now, if I still get pushback, and I’m still on one on one totally cool, too. Firstly, two things offer a happiness guarantee, if after 30 days, you’re not thinking this is the best money I’ve ever spent, I will happily in fact, I will insist on refunding you. The other thing I do, I want to make it easy for you to do this. So you’re gonna get some wins along the way, if you can’t afford all at once, let’s do a payment plan. So giving them a payment plan as well. Yeah.

Fraser Jack
pull you up there. Sorry. I know because I want to get to the answers and all these but I love the happiness guarantee. So you mentioned before feeling confident. Now this is a really interesting point, obviously, you’re, you’re selling a product, or you’re promoting a product that says, pay $1,500. And I want to ask you about the touch points. But you’re gonna it’s gonna take you from not, you know, you know, becoming richer or getting more financially better off or doing these other things. But from going from stressed and uncertain, to confident. That’s, that’s what you that’s the main guts of it, right? So we’re not saying you’re going to be

Adele Martin
on average people, people, but if they do the program, will people find 1000s of dollars worth of value, because they’ve never structured a budget before. They realize like some of them are sitting in the default balanced man, when they’re only 20 something when they’re 30. Like they didn’t understand, you know, they understand the fees that they were paying, and you know, all that sort of stuff. So or some of them have got money sitting in the bank account. And the interest when it could be an offset account or on reader or they just didn’t understand like stuff that sometimes we take very much granted. So I would say on average, most people are making 1000s of dollars or better off each year. And that keeps going. But ultimately it comes down to they have competence, they feel in control, they feel more confident and they have more certainty. So yeah, that that is a large part of the benefit that they get your financial stuff. Awesome.

Fraser Jack
Now, I just wanted to ask you a few things. I want to get into the touch points. But before we do, is this the high school thing you mentioned in the first episode we did the you know graduated from high school or some this is this is the graduate Yep. $1,500. Talk to me about the touch points, how many videos and information sessions and will they get?

Adele Martin
Yeah, they got six modules, one module drops each week. The first one is on goals. I’ve got a couple of really great goal exercises I get them to do they’re fully editable PDFs, so they can do it on their computer. They don’t have to print or do anything. So they do that it’s a discussion that sometimes, you know, I’ve seen them say that they’ve bought them to tease, you know, doing that. So you can be just as powerful without you having to be in it. In fact, more powerful because they’re in their home, they feel secure. They don’t have you sort of feeling like you’re being judged being judged. So yeah, that’s, that’s the first module second module is around spending plan and helping them with the spending plan. So on and so forth. So but the touch points are as soon as they register. As soon as they join, I send them a gift in the mail. The Gifted amount is a personalized thank you card with a book and they get that in the mail. And then we’ve got the live training every week as well on a Thursday. And then we’ve got the first after the when they sign in as well. We get them to do a breaking exercise to see where they’re up to what areas that they want to focus on the most. I’m not actually like looking at that to see you know, where I might need to focus, you know, the lives on and stuff like that. I don’t know, we’ll be talking heavily on creating, you know, budgeting stuff if they really love the investing stuff. So, yeah, that’s been interesting. And then I do the automation after I think the halfway point I asked them to what might be what a win that they’ve had what they stuck with. And then at the end, they get invited to a strategy session.

Fraser Jack
Fantastic. So just talk to me about those, that weekly group session that you do is that for everybody and say that doing the goals module, or even that’s doing the spending plan module or

Adele Martin
so what I thought about this a lot, and it’s certainly not perfect by any means. But what I’ve done is I’ve just kept everyone in the group, like whether they’ve up to week one or week six, or whether like, I don’t have this thing where we have a launch, I personally don’t like businesses that have this launch feast or famine, I want, you know, it’s not good for the business model, having this can only join me in six weeks time, it’s also not good for the client, because they really now I’m going to make them wait six weeks, so people can join at any time. And as a, I haven’t put this on the contract, I’ve just left them in the Facebook group. So if they come back to it in six months time, I don’t really care. Like, you know, I think they do. And also just keep you Top of Mind with them, because they’re going to talk to other people about it. So I do a coaching call every single week on the first day, I absolutely love doing it, it goes to 30 minutes, it’s super easy to do. And sometimes it’s on, you know, they’ve got questions, and sometimes they don’t, and but it just keeps me in front of mind for them. So it keeps them very warm and very engaged. So and that that way they can join at any time and people are at different stages anyway. So I’ve done that, because it didn’t like the other business model where they just joined and waited a while and all that sort of stuff. And

Fraser Jack
utilizing a platform. Obviously, you mentioned that Facebook using utilizing a platform that’s already on most people’s phones.

Adele Martin
Yes, I’m using Kajabi. So Kajabi is a platform that I use, which it does a couple of things. It can do your website, you can do landing pages, it can do courses, it can do payment. It’s a very, you know, it’s an amazing piece of software. I love it. So I have you used a few things before that. But this one to me made the most sense. I’ve used, teachable, and I’ve used a Facebook group, you can do some of these inside of Facebook group because it’s different modules and stuff inside there. But yeah, this one is the been the best one. If anyone’s listening, when you’re thinking this might be for them. Just shoot me a message I’ve got a link that you can get up in a 30 day trial from if you go just to the website, you only get two weeks this way you can get a 30 day trial and have a play with it. Heads up that is affiliate link as in if you use it and pay I will get paid. But it is a great a great platform and so not for everyone. Not everyone needs all those bells and whistles. But yes, certainly that’s been like, I love technology. Now I don’t need to do coding, I didn’t do one single training on how to use your software. I just went straight in and started playing with it. I also liked it. It’s a big software like lots of people in the information education space in entrepreneur space use this. So there’s heaps of support available if you do get stuck with something. That’s why I liked it as well. It plugs into stripe for payment. It does all the automations it does the surveys it does videos, you know Yeah, I really and my websites in it as well. Yeah, so does. It is a great platform brilliant.

Fraser Jack
And I’m sure people will will reach out to you and get more information on that. Now I just wanted to go back so that so your your money buddy program is now your your entry level people come in, you say this is the best way to work with me. It’s 15 and above anyway,

Adele Martin
the only way the next evolution of me which putting this out there because this is a big, big step up idea that I wanted to do the Board of Directors course the company board directors course, have no idea why I wanted to do the company boards directors course, I can’t see me ever working on a board, I just think I would be I don’t know if I’d be particularly good on a board. But I really wanted to do it, I couldn’t figure out why. And I’ve started to work with another coach who if we can get into in a minute. And she put this idea in my head that I was going to work with CEOs and like there was going to be six CEOs that I was going to work with are in that space. And that would be that are just capped at six. And I was like that’s why I’m doing the company board of directors course is to help me understand, you know, so I can see that the you know, a next evolution of me, you know, year or twos time. I want to work with you know, six, seven figure female CEOs to help them around, you know, growing their wealth, protecting their wealth, understanding the emotional mindset stuff with money. You know, those people that play that very high level that will be the next evolution that I’m working on at the moment. And so yeah, doing a company board of directors course.

Fraser Jack
I love that you put that vision in your head. Excellent. So we’ve got the we’ve got the six week program. That’s your high school graduation piece. Have you developed those other plans at the uni plan in the Masters plan?

Adele Martin
No. So that’s what we say if you want some of the some of them did come in already got some of them ticked off like some of them are going to sell off my Superfund already. I typically that’s not the case. But yeah, some of them have got bits ticked off on all the areas and that’s totally cool as well. But I sort of position it is you know, largely these high school graduation. And then if you want to work with another advisor and that self made super fun space and other space, you know, we partner. So yeah, after I graduate, I’m not doing any one on one advice. And so the strategy so actually is with another advisor. So at the moment, I’m working with him on what that strategy session looks like what they get, you know, making sure it’s super valuable for the client, they’ve got something they can take away. So yeah, we’re working on what that looks like that graduation, doing it jointly for the first several and then let taking the training wheels off or letting him go. I’ve had a few of the next evolution, because I already slipped in the future, you know, that? I’m thinking and toying with the idea. So I get advisors, referring clients to me quite a bit now. So because they don’t have an offering, they don’t have to do it. So I get that quite a bit now, which is great. I take that as a massive, massive compliment, that’s one of my peers would do that. The second thing I’ve got is, well, why can I help advisors create their own versions of my money, buddy, help them create their own versions, because it’s much better to build trust, when someone saved me for five hours of video, they’re more likely to know like, and trust you. And so it’s really, it’s more important, if we could make their own versions of it build trust, especially they’ve got this an older client base and intergenerational wealth transfer, it can be great to have their own version, it’s a, it’s not just that it’s cheaper for someone, it’s just less stress, I think sometimes we forget that coming to someone for your finances, it feels like very confronting that they feel like they should be doing better what they are, they feel. And so even though like Oh, but you know, if you get help your book that people just have this fear about coming to an advisor. And so this sort of program can be a really a way for them to actually build that know, like, and trust, an easy entry point. So I’m working with other advisors create their own versions of that, and figuring out how we can they can then give a bonus Strategy Session. Or if they don’t want to do that, maybe we can have my money buddy as the thing and then making sure I linked to the strategy session with that particular advisor. So you know, if they refer someone, the strategy session goes back to that advisor for the next one. So lots of different ways we can work and model it and still doing that in a moment. So yeah, I think I’d see how helping people create their own money buddies or referring a strategy session back to them. Because once I’ve done this program, they’ve done their budget, they know where their super is, they get very clear on their goals, all that onboarding process is done. And so this works very good in a very traditional financial planning business. And I’ve got another advisor I’m working with at the moment where I’m helping him he doesn’t have a separate program, this is just going to be his financial planning business where step one, they do the goal, step two, they do the spendings plans. Step three, they do the fact fine. Step four, they do a risk profiling the client on board themselves. And step five, is they booked a strategy meeting with him. It’s not a separate program. It’s just part of his financial planning business, which is a much better experience for the client as well.

Fraser Jack
Yeah, it certainly isn’t. And as you mentioned before, like the putting the client first, this high school thing, university thing and mouse this thing has stuck in my brain for some reason. But so to me, that’s exactly right. All the stuff that you’re doing in high school is all the stuff that you’re doing now with the money buddy in the planning. I know we’ll get to the the how you’re working with advisors on it, but then the unit plan to me is like all of your foundational bytes advice stuff, and then the unit, the Master’s plans, the specialist advice pieces, and you’re absolutely right, you don’t need to be doing those within your own practice. If as long as you have a pathway to, you know, find a find somebody that can do those things for you. In refer them off and refer them back. And I think I think that’s the whole idea of fasea. Right? If you don’t know about it, refer it to somebody else.

Adele Martin
Yeah, exactly. If it’s not your area that doesn’t lock you up, then find someone that does

Fraser Jack
exactly right. Now, you mentioned that doing before, because it’s I think it’s really important. We’ve talked about a lot of concepts, and it’s enabled people to go that’s a good idea. That’s a good idea, but the proofs in the doing which as visionary, as visionaries, we’re not always the best at. And so we do need somebody to help or an integrator or process

Adele Martin
the chart on what you to do the test. Or if you’d be off the charts visionary.

Fraser Jack
I can tell you right now I do. I am. And so tell us about that, then because obviously, you’re working with people that can then integrate to make this actually happen.

Adele Martin
Yeah, and drag you back a bit. So to make sure you’re not going down a path, you know, get so excited and want to do this new technology will to actually give them full permission to do that, to challenge me on things. And I think, you know, you have to be the integrative visionary. Well, we have to have someone that will do that. Now, as a visionary. Sometimes I get the shifts to be quite honest, when someone’s done that, but then I take myself back, like, why are they doing it? It’s because I’ve got my best interest. Now I’ll have a whole heap of tasks unfinished, you know, rather than mastering something and doing it really well. So yeah, I’m a big fan of making sure you’re working with the integrator to point you back and focusing on one thing, doing one thing like I’m working with this younger advisor at the moment, who I’m super enjoying working with, he’s got so much energy, but he’s doing 50 things. You know, I’ll maybe I’ll try the joint venture with his accounting firm. Maybe I’ll try Facebook ads, maybe I’ve got a Facebook group and or maybe I should do, you know, PR and stuff like that. We just do one thing. We do that really well. We master it, we refine it, review it, and then we move on to the next thing. I did not have my podcasts my Facebook group My program my everything in six weeks, you know, I mastered one thing and then you know moved on to the next. So, yeah, I think that’s really important. And perhaps one thing you’re focusing on?

Fraser Jack
Yeah, no, I love the fact that you’ve got a podcast I’m gonna get there in a minute. But one of the things you’ve mentioned a few times is that you’re working with people you’re working with coaches on this and coaches on that and, and your accountability buddies in coaching that they you’ve invested, like you said that very early on, you’ve mentioned investing in yourself. Tell us a little bit about that your journey and how many coaches you’ve had and had, or have and have had over the a

Adele Martin
lot? Yeah, a lot. I, it makes my university course, degree looks very cheap. Now, the coaching, but I think it’s just that I always want, one of my values is, you know, learning and growing. And if I’m not learning and growing, like I have to be doing that, I have worked with lots of different coaches on different things, so much emotional, intelligent, coaches, coach to scale your business, someone to help me with doing to deal with two or three different courses on online courses, work with people on professional speaking. So people are having, you know, they speak and think well, I did several speaking programs and courses and mentors one on one, I’m in that professional speaking space. So that I’ve done, you know, working with another coach at the moment on on scaling and growing. And he’s really good, because he just focuses on coaching. So he just focuses on how to be a better coach. And you’re overseas, we’ve done fin con, that’s how I first met you at fin con. I love love going Fink on Yeah, Fin con I’ve been to XY Planning Network overseas X, Y Pn is like, our version of x y, but overseas. So I’ve been I’ve been to their conference, as well. So yeah, you know, invested heavily, like, you know, most of the people that aren’t used coaches I work with, it’s somewhere in the order of $30,000 a year to work with them. So you know, if I’ve had multiple coaches, you can see how much that adds up to. So yeah, for me, when you put that sort of money behind something, you do the work. You know, people when you put that money behind it are more likely to take action when you put like a small house deposit on something. Yeah, so I’ve worked with lots of different coaches at the moment, also, and it’s just gonna be very woowoo for a lot of people listening, but I’m just tapping into the I don’t care, I’m 40 I deal with it. So I’m working with a psychic medium at the moment as well. So that’s I’ve always been really big on my intuition that several things that have happened that I know is gonna happen, I can’t explain how I knew was gonna happen. And that so that’s something that I’m tapping more into, and trying to figure out how do I belly to develop that skill? How can I randomly know some things but not others? And be very clear about stuff. So yeah, that’s something without getting into it. Knowing when people were going to pass away without them knowing, I know, when people will get pregnant with what they knew. Yeah, it’s very trippy and very out there and a very different to, you know, my Commerce degree. But I’m tapping more into that creative space. So yeah, I’ve worked with bridges, coaches, psychic mediums, the whole shebang,

Fraser Jack
brilliant, love it, I’m gonna I’m gonna follow that journey, because I’m interested to see how it goes. Now I want to talk about the concept of there’s a bit of a buzzword around at the moment called Death influences. And, and obviously, you know, when you’re talking about doing something at scale from one to many and zero Dominie, you become an influencer in a way under the under the new term that we’ve sort of all got to know. And then of course, if you’re talking about money, you’re an influencer. So found herself in the media recently, but also, you know, I think something that we really need to entrepreneur from an entrepreneurial mindset, we need to understand how influencing works.

Adele Martin
So I guess I really liked if influencers, the ones that do it well, because they bring this awareness of money, make it make it something that’s, that’s cool to talk about, that’s okay to talk about. It’s okay. They have so I actually liked that they’ve made money something that’s a mainstream topic to talk about. Where I’ve had a problem with it is when they do it, like, you know, this is gonna sound again, I don’t care. People were selling oils before and now they’re selling crypto now they’re selling, you know, forex trading and telling me how easy Forex for two years and they get, but they actually not making their money from forex trading, they’re making their money from the $300 training fee, just like with their terror, they’re not making their money from selling the oils and making the money from signing people up for the $500 packages. So I had an issue with the multilevel marketing side of it, you know, preying on people that were vulnerable, stay at home moms, you know, paying them, maybe this sign up to this $300 thing, you’ll learn all the trading stuff. I had an issue with that. But I didn’t have an issue with them. You know, just there’s some amazing influencers that I follow, who aren’t financial advisors, but they don’t feel amazing stuff in the finance space. So yeah, I guess so. One of them is a lady called Emma from the Baroque generation. She does an amazing job. I love her stuff. Of course, it’s also people that are licensed and a few influences. So Victoria from she’s on the money, you know, he’s one Yeah, I Definitely think, you know, they’ve had a role to play. But you know, at times, it’s also unfair because how are they allowed to talk about that? If I did that, and said that I will partner with a particular product? You know, we would we weren’t allowed to do that. So yeah, there’s definitely some ways. I think sometimes I think it’s not fair. But I also think it’s amazing the job that they’ve done, and highlighting and bringing money to the forefront. Don’t people don’t want to take it, take that free information and go and do it themselves. They probably are gonna be your ideal client anyway. Like, people come to me because they want accountability, that they’re not someone that’s so yeah, for me. Most of those people aren’t my ideal clients anyway. So yeah, I think I think it’s interesting that the new space we’re playing in,

Fraser Jack
yeah, exactly. Right. It all depends on, you know, the history and the background, like you said, if there’s, if it’s a multi level level,

Adele Martin
I’m trying to I’m trying to recruit one of them at the moment, I think that would be amazing to partner to have as an employee and my business, I’ve tried to recruit several of them, I’ve got one at the moment. Because they understand community, they understand engagement, they understand marketing, like, you know, I think, yeah, and I’ve got a, so I really, I think that you know, they would make an amazing employees. And so financial planning businesses,

Fraser Jack
that’s a really, really good way of looking at it for a lot of people out there that that are running financial planning businesses and trying to work out how to bring, you know, I guess, your new clients into the business or, or additional clients into the business and try and grow their businesses that way. Adele, thank you so much for coming on. Now. Tell me about the future. You’ve mentioned a little bit of stuff that you’re working on now. But let’s tell me about the your, your next six to 12 months, what does that look

Adele Martin
like next six to 12 months. So they’ve already happened in my head. But yeah, the next six to 12 months, is, okay, I’m going to say this publicly, because you guys are going to hold on to it. And I want everyone to hold me to it. I’m going to write a book to financial advisors. So you know, I’ve got two decades worth of experience. I’ve worked with a zillion different coaches, I want to get the IP out of my head, I want to help more of the good guys, the good advisors succeed. And I see some of them doing it so hard, and it doesn’t need to be that way. And so yes, I want to I want to do a book for advisors to help them, you know, love advice, again, to be able to grow and scale without burnout, to help more of the good guys win and stay in the industry. So I’m doing that publicly. You guys hold me accountable. I want to have it done by the end of the year. So yeah, that’s and yeah, I’m start I’m now working more with financial advisors. So I’m working with some advisors at the moment. And I’m absolutely loving it. I love it. Because they’re stuck on something, I helped them get unstuck. Help them charge for their worth, understand the value that they give it help them not do more hours, but give more value. Like I really enjoying coaching and working with advisors at the moment. Yeah, I wish I did it years ago. I don’t know why I didn’t start it earlier. But anyway. But yes, working with more advisors now. And I’ve got a book coming. I want everyone to hold me accountable.

Fraser Jack
As you were saying that. I was just thinking about the fact that you’ve spent all this money on coaches over the years, and you’re just passing that knowledge on. And that sounds like a bit of a bargain to me. So if somebody wants to reach out to you and get hold of you and have a chat to you about what the future might bring or continue this conversation, what’s the best way for them to if

Adele Martin
they’re wanting help to grow and scale their businesses, I’m happy to have a check for them. I’ve got a lot of free resources as well. I’ve just did a guy to work with millennials and I’ve got a few other you know, that pathway document I’ve got that pathway document about the high school graduate, I’ve got that as a document got heaps of free resources, I can shoot them through as well. Or they want to have a chat and further and I think they want to grow and scale their business. I’m happy to look at what coaching looks like as well. They can all are all of the Facebook Instagram or email Adele and Adele martin.com That will reach me directly adele@adamandeve.com Or you know, LinkedIn, Facebook all the ways

Fraser Jack
brilliant. Thank you Adele and thank you for being part of this series we were talking about how we can you know advice entrepreneurs can deliver cost effective advice to more Australians that you’ve certainly pointed out how you’re doing it and really appreciate you coming in and giving all this information tome.

Adele Martin
Thanks for having me.

Listen to the podcast on the links below or on your favourite platform

General disclaimer for this podcast and all XY Education podcasts
https://www.xyadviser.com/disclaimer/

DISCLAIMER: The XY Adviser website and all content contained on the website is limited to general information. It does not constitute legal, financial or other professional advice. XY Adviser does not hold an AFS licence and does not provide any financial services. Nothing on this website should be interpreted as financial advice. Before making any investment decision, XY Adviser recommends obtaining financial advice from a qualified financial adviser.