Podcast Transcript

Episode 33, Season 1

Six-month update bonus episode, with Fraser Jack

 

Fraser Jack: [00:03] Hello and welcome to The Goals based advice Podcast. As you know, I’m your host Fraser Jack, and this is a special bonus episode. And today I’m not interviewing anybody, I actually just wanted to talk to you, let you know how we’re going here, and yeah, ask you a few questions and get you to give me a little bit of feedback as to how it’s going so far and what you wanna hear next.

Fraser Jack: [00:30] So I thought I’d start just quickly with, today sort of marks the day that this podcast turns six months old, and I sort of started it out hoping it’d get to this point, and we’re here, it’s been a blast, I really enjoyed it, and I have to say I’m really happy with the way it’s gone so far. And I wanna thank everybody for their efforts. A lot of people have given me feedback, a lot of people have given me tips on how I can improve, which I appreciate because I actually wanna be better at this. And so yeah, it’s been great. And the numbers have been slowly building, which I’m also really happy about. We started off really organic, with a handful of people listening and a handful of people downloading, and it’s grown to around 400 people a week, so I’m really humbled with it actually. It’s six months old and 400 people a week. And at the time of recording this, we’ve had about seven and a half thousand unique downloads in total.

Fraser Jack: [01:24] So very, very happy and very appreciative of everybody that’s been part of the process from setting it up, from the initial stages, all the way through to everybody who’s been so supportive along the way. And all our amazing guests that have come on and given their time and given their expertise, and just for the purpose of just sharing good information and giving for people to listen to. So thank you everybody, thank you for your support. I do appreciate it.

Fraser Jack: [01:51] Now, I also wanted to say, as I said, I wanna speak to you directly. And as a human, as a person, and as a community, and I want to put this call out to you, and I wanna hear back from you, and probably the best way I would think maybe is through LinkedIn. That might be the best way, you hit me up on LinkedIn, Fraser Jack on LinkedIn, and just throw a conversation in there, or start a conversation, and I really wanna know what to do next, who to talk to, what do you want, who you wanna hear from, especially if you wanna hear from somebody in particular, put their name down and I’ll reach out to them and see if we can keep that going, see if we can get them on the show, if we can get them, and if you got any questions, especially throw that in there as well, the things that you’d like to know, and I’ll see if I can get them on and hopefully everyone can benefit from me having a chat with that person.

Fraser Jack: [02:37] So yeah, so let me know what you think. It can be lonely here trying to come up with something every week just that you wanna hear. And I know people are telling me this is great, but if you do wanna hear something, let me know. I would be more than happy to reach out to people and try and get them on the show. So yeah, hit me up on LinkedIn with anybody you wanna hear from.

Fraser Jack: [02:54] I also wanted to say that this podcast has always been part of a bigger picture. I wanted to put together a goals based advice academy, which is not just the conversation and the podcast, but it’s also some tips and ideas and some cheat sheets and some ways of being able to implement goals based advice in your business. And anything that we can do more so around the questioning techniques or anything like that, it’s all forming part of an academy. There’s gonna be a lot of stuff around behavioral science, behavioral finance stuff, so that you can ... You know, just getting to the bottom of how clients and consumers tick. And then we can bring some information. So that’ll be on the Advice Intelligence website, look for the tab under resources, and then academy, and there’ll be the academy and the podcast will be sitting side by side.

Fraser Jack: [03:42] I’d also like to mention that I’ve gone and produced the transcripts from all the podcasts. So if you’re ever wanting one of the transcripts they’re on the Advice Intelligence website under the resources podcast tab and you can go to any of the podcasts and then download the transcript of what was spoken about if you want any quotes or any information that was in that where you didn’t quite grab it because you were out walking or whatever it might be and you wanted to go back and look at the transcript. They’re all available via the website so jump on there, have a look and you can download those transcripts and grab them.

Fraser Jack: [04:17] [inaudible 00:04:17] cover you, I really wanted to talk about some of the stuff that, I mean I’ve had a few questions and spoken about a few things from time, but I’ve had a little bit of feedback around people have said to me at times, “Goals based advice, everyone does goals based advice Fraser, it’s not a new thing.” I get that a little bit, sometimes I get, “That’s what we already do, everybody does it.” And I embrace this question because I get it a little bit, especially from larger groups and I always throw this comment back at them, I say to them, “Great.” I definitely beleive that we are in the business of helping our clients achieve their goals and you’ve probably heard me say this before, not just setting your goals, actually achieving your goals.

Fraser Jack: [04:59] And with this in mind, and I put this question to people, in the past 12 months, how many of your clients goals did you help them achieve? What is the exact number? And funnily enough I’ve never had anybody yet say to me that exact number. No ones been able to say to me, “Yes, Fraser, in the past 12 months we helped our clients achieve 219 goals.” Or, “347 goals.” There’s been no number and as a licensee certainly people haven’t been able to say to me, “As a licensee, our advisors have been able to achieve X amount of goals.”

Fraser Jack: [05:32] And it’s interesting to me that I’ve always said that we’re in the client business, we’re in the goals based advice business, this is all about helping our clients achieve their goals, then that’s a pretty important metric. That’s a really, really important metric to be able to say, “We helped our clients achieve this many goals and we can take that number and we can show other clients that number and we can take that number and we can present it to the next Royal Commission or to ASEC or anybody asking what are we doing for the fees and the money that we receive?” And then to be able to back up all of the processes around the strategies, “We implement these strategies to get these goals.”

Fraser Jack: [06:09] So to me it’s all around goals, it’s around tracking and I’ve said this a few times before but are we in the advice business? In the goals based advice business or are we in the product business and [inaudible 00:06:22] business that’s looking for people to fit that true goals based advice. So it really comes back down to me, we’ve got to be in the human business of looking after clients goals and then we use strategies, we use platforms and we use products to do that not the other way around. So I’ve been quite vocal in that space, some people don’t like hearing that. But yeah really is to me, I’m on a mission to be able to say, “At some point in the very near future that advisors can track their goals to the point where they can set, help set smaller goals, help track them and give out that number as a business metric.” One of the most important business metrics moving forward.

Fraser Jack: [07:00] Yeah, so that’s the mission I’m on and I’m more than happy to have that conversation/debate with anybody, at anytime, so if you do feel free to reach out to me if you want to add to that or encourage me or tell me I’m wrong, I don’t mind either way. So yeah, there you go and also I heard a really good saying the other day I wanted to share with you as well, and that it came from an unusual source but it was really about what clients are after and it was around the idea that clients don’t actually come to us for advice, they come to us for help. And I listen out for that a lot now, they come to us for help and are we there? Are we helping or are we just advising?

Fraser Jack: [07:39] And the advice is the solution to the help but it starts with help and all these goals based advice conversations that we’re having, results around the idea of helping clients first and then using the strategies and the advice as a secondary. Because yeah they don’t come to us for advice, they come to us for help and they want us to be helpful and they want us to help them and we do that via using our professional skills. However, yeah they’re not reaching out for advice, so that’s a good one to keep in mind.

Fraser Jack: [08:07] During this show there’s also been a number of power questions that we’ve discussed and I want to start collating these power questions and I want to start sharing them and making them more readily available and a bit more of an open forum on these power questions. We’ve had questions from Dr Katherine Hunt saying things like, “What is it that you’re not telling me? What are the things that you haven’t told me about this?” And those sorts of things, I like the questions around, “How specifically do you know when you’ve achieved these goals?” There’s all sorts of great questions that are out there, “Why? Why specifically do you want to do that?” And then asking that question a few times to get the right why. “Why didn’t you tell me about that?”

Fraser Jack: [08:47] This was a great one from Peter Diamantedes, “What are the things that you have never told anyone that you would love to do?” And that to me is some great power questions. What I want to do is I want to say this is just a handful, throw them at me on LinkedIn and we can start getting that conversation and keep that conversation going. I’ll read them out on the shows as they come up and yeah let me know your power questions. I think we should share them, be part of the community around the academy as well and just put them on there and make them readily available to everybody.

Fraser Jack: [09:17] So I think that’s pretty much it that I wanted to cover on this episode. Again, I’ve had plenty of feedback, great feedback, some a lot positive, which is great. Some good suggestions which I’ve also embraced and I love to get it and I’d love you to share with me your thoughts around the podcast itself and how we can improve it.

Fraser Jack: [09:38] Again, I’ve only had a couple of reviews on iTunes so if you’re on iTunes and you want to leave me a review, I would love it. I’d really appreciate it, and also I appreciate the fact that you are out there spreading the good word amongst your peers about the podcast because I can see the numbers growing every week and I really appreciate it.

Fraser Jack: [09:57] Lastly I guess, yeah, I definitely want to say thank you to everybody at Advice Intelligence who have helped me with the podcast, who have sponsored the podcast. You know we say powered by Advice Intelligence, you know what that means? It means they’re paying the bills and they’re really supportive of me doing the podcast and also keeping it going as a longevity thing and having it on the website and everything like that. So thanks everyone there, thank you Jackie for all of your support and help with regards to the podcast and everybody else involved, you know who you are. Very good, that’s it, sign off from me. That’s the end of this episode and thank you again, don’t forget to please subscribe so you get all the next episodes and I look forward to hearing from you. Thanks.

Fraser Jack: [10:40] If you haven’t already, I’d love you to subscribe to the podcast on your podcast platform of choice. And to continue the conversation head over to our social media channels, we’ll catch you next time.

 

 

Disclaimer: This document is a transcription obtained through a third party. There is no claim to accuracy on the content provided in this document, and divergence from the audio file are to be expected. As a transcription, this is not a legal document in itself, and should not be considered binding to advice intelligence, but merely a convenience for reference.