It’s time for another instalment in our regular staff spotlight series, this time with our financial adviser, John Hinson. John is a veteran adviser with 25 years of experience in the industry, and has been with us at RetireInvest for seven years.
Read on to find out more about John’s career to date, his opinion on technological change in the financial services industry, and the underrated skill that he believes is vital to his role and his relationships with clients.
How it began
John began his career in the banking sector, serving the public and supporting them with their enquiries. When he was 29, he decided to change things up and moved to Prudential to pursue a career in financial advice. “It was a tough gig,” John remembers. “My job was to go out and see farmers and try to get them to start a pension.” He continues, “Quite apart from my shoes and car being constantly covered in mud, it was a really tough sell, despite a pension clearly being in their best interests. Their first instinct was to say no and keep their money where they could see it.”
From Prudential, John moved to Barclays, where he spent a happy decade surrounded by a large team of people, learning the true value of interpersonal skills.
Why being a ‘people person’ matters
“Assisting clients with their finances is something that requires a great deal of trust on their part,” says John. “They need to see that you care about more than just the fees you’re charging. It’s about small gestures – asking after their grandson, or remembering that they’re off on holiday next month. It’s also about being straightforward and honest, without giving clients unrealistic expectations about what their money can achieve.”
John also finds that keeping on top of current events and knowing what is going on in the market is crucial in winning his clients’ trust. “I travel a lot to see clients, so I enjoy listening to current affairs podcasts to ensure I stay in the know – there’s nothing worse than being with a client and having them tell you about some recent development, rather than the other way around!”
Technology and the generational divide
Something that John has noticed in recent years is the significant generational divide that separates older and younger generations in their approach to financial advice.
“I often work with multiple generations of the same family, meaning that I’m coming into contact with younger people whose approach to financial advice is vastly different to that of their parents and grandparents,” John says. “My clients in their 30s and 40s are very switched on, in tune with the latest financial and business news and can find their way around the online investment platforms we now use to help clients keep track of their finances. They’re also much more concerned with environmentally sound solutions, i.e., ensuring their investments align with their moral and ethical preferences.”
In comparison, he notes that some of his older clients are more resistant to change, wanting to retain their paper statements and struggling with the gradual withdrawal of face-to-face services in financial institutions such as banks. “It’s a really difficult situation,” he says. “On the one hand, the change that is happening in the industry is enabling a more precise, efficient and results-driven service for clients than ever before. On the other, we work with clients who were born into a world with no computers, no Internet and no mobile phones. How can we possibly expect them to keep up with the pace at which our world is changing?”
A recent client success story
John’s favourite thing about his job is the tangible change he is able to make to his clients’ lives, both in terms of their financial security and their stress levels! Here is a recent example:
“A few months back, I began working with a relative of one of my clients. She had multiple pensions held in different places and didn’t really know what to do with any of them. She didn’t have any fixed retirement goals and didn’t really know whether she could afford to retire at all. Over the next few months, I helped her gather her pensions together into one place and ensured her money was invested in environmentally sound funds that matched her personal preferences. My client now knows exactly what she has saved up for retirement and how much she is likely to be able to save in the future. She can now look forward to retirement with full peace of mind.”
It could have all turned out differently…
We’re very glad that John decided to become a financial adviser because once upon a time he had different aspirations. When he was younger, he actually wanted to be a fireman and even applied to become a fireman at one point! Oh well – his local fire department’s loss is our gain!
We also asked John another very serious question – if he could have any superpower, what would it be? “Oh, you’ve put me on the spot now!” John laughs. “I’d love to be able to travel in time so I could go back and change certain events. It would also be fun to be able to move objects with my mind!”
We personally think that being able to make a real difference in his clients’ lives is a superpower in itself – thanks to John for everything you do!