Episode Transcript
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Speaker 1 (00:05):
Welcome to the
Finance Friends podcast.
Whether you have followed usfrom the beginning or you're a
new listener, we are excited tohave you here.
Finance Friends gives ourlisteners a seat at the table
with successful finance industryleaders.
Follow us on our socials atFinance Friends Podcast, linked
in the description box of thisepisode, and stay tuned for
(00:29):
weekly episode releases.
On today's podcast we haveJames Wrigley, a social media
phenomenon.
He has over 220,000 followersacross TikTok and Instagram and
a lot of his videos on theseplatforms reach over a million
people globally.
(00:49):
Isn't that crazy?
He talks about his role as afinancial advisor and how he's
been able to grow his socialmedia following.
Listen in.
Welcome, james.
Good to have you in the studio.
How are you today?
Thanks for having me.
Fabian, very well, well, that'sgood.
I don't normally do podcastrecording on a Friday, so
apologies if my voice is alittle bit croaky today.
Speaker 2 (01:12):
You made a special
one for me.
Speaker 1 (01:14):
Thank you, I did.
I did Well.
You're a special guy.
You're very famous on thesocial media platforms.
Speaker 2 (01:21):
So people tell me.
Speaker 1 (01:27):
So how many?
I'm not a big TikTok person,but we do have a TikTok account
Finance Friends.
How many followers do you haveon TikTok TikTok's?
Speaker 2 (01:33):
just over a hundred,
about 101 or something.
Instagram's taken overInstagram's 114.
Speaker 1 (01:40):
So that's, thousands
yeah 114,000.
Speaker 3 (01:44):
Sorry, I didn't add
that.
Speaker 2 (01:45):
Yeah, so just over
100,000 on TikTok.
Instagram's about 114,000 orsomething.
Facebook last I checked was67,000.
Facebook's growing reallyquickly at the moment for some
reason.
Yeah, linkedin's a littlebehind now.
Linkedin was well and truly infront, but well and truly behind
these days.
Speaker 1 (02:02):
So I'm the opposite.
I'm big on LinkedIn.
Haven't exploded on the othersocials, maybe because of my
Instagram accounts.
I'm private.
That might be part of thereason, but maybe, before we go
deep into the socials, we'rehere to talk about your career
and how you got to where you aretoday.
So what's your title at themoment?
(02:25):
What do you do?
Yep.
Speaker 2 (02:26):
So I'm a principal
financial advisor.
The firm that I work in, I ownpart of, is called First
Financial.
I'm, yeah, day-to-day afinancial advisor, but a degree
of responsibility for a team ofpeople as well, and so there's
various advisors, associateadvisors, in my team and, in the
way that we have our businessstructure set up, there's a
(02:48):
power planning team and a clientservices team.
They're kind of pool typestructures, whereas the advisors
and the associate advisors allsit together and I'm in charge,
to a degree, of one of thoseteams in the business.
Speaker 1 (02:58):
Yeah, and when you
say you're a financial advisor,
the people that might not have afinancial advisor or might not
work in financial advice.
What does a financial advisordo?
Speaker 2 (03:10):
It's a good question,
so a lot of it is helping
people first and foremost,trying to help them understand
what is it they want to do when?
Speaker 3 (03:17):
are they at?
Speaker 2 (03:18):
What are the things
that they want to do?
What's holding them back?
What are some of theirchallenges?
It starts from a financialperspective, but you're often
having conversations with peopleparticularly in the beginning
of when you're getting to knowthem.
They start to open up abouttheir life and they always
jokingly say I bet you didn'texpect to be doing this or that.
You know a bit like apsychologist.
(03:38):
It's all funny.
You say that More than half ofthe people we actually talk to
make a joke of that kind ofvariety.
So it starts off about moneybroadly.
It moves into kind of life andother bigger aspirations that
they've got, but then weultimately get to a point where
we're just trying to help themand guide them and coach them to
one make better financialdecisions.
But then that often leads to abetter life in some form or
(04:01):
another.
When you get into the detailit's things around
superannuation and family andsavings and paying off your
mortgage and all of these kindof things.
But it starts with the moneybut it branches out into other
life things too.
Speaker 1 (04:14):
Yeah because,
ultimately, what you want to
achieve on a personal levelrelates to what your financial
circumstances.
Speaker 2 (04:23):
That's it.
There's someone that comes tomind now going through a
conversation with them and onpaper they look like they're in
an incredible position thisreally expensive house in Sydney
and a whole lot of money in thebank and big incomes and all
the rest of it but when youactually sit across the table
from them, you can see there's awhole lot of tension around
money.
The numbers on a page look likethey're earning a fortune and
(04:47):
they should be reallycomfortable, but it's clearly
not, and so there's other thingsgoing on there, and so as you
start to get into conversationswith them, you'll understand
that certain choices thatthey've made around their
financial setup at the momentare actually really holding them
back from living the life thatthey really want to lead.
They'd be much more comfortableand much more happy in a
(05:08):
smaller house with no mortgageand more time around with the
kids, rather than the big housewith the big mortgage and the
big corporate jobs that theyneed to be able to fund that
lifestyle is that a bit of likekeeping up with the joneses?
Speaker 1 (05:20):
you know your two
lawyers have to live in a
affluent suburb in Sydney versus.
Do you really need what'simportant to you as individuals
rather than what's important toyour mates up the road?
Speaker 2 (05:34):
Exactly, I think
that's where it kind of spirals
from, I think, and spirals kindof, I think.
Maybe the way to look at it isthey start off in a particular
industry and you start to earn aparticular amount of money and
the bank's going to lend me thismuch, so surely I should borrow
it and I should have a househere and I need to send my kids
to this particular school.
But just because someone else isdoing it doesn't mean that you
(05:55):
need to do it.
Worry about yourself and thelife that you want to lead, and
contrast that with aconversation with someone that I
had yesterday that theirhousehold income is incredibly
high but they live in one of thewestern suburbs of Melbourne
with a really small mortgage,but they'll be able to knock
that off in the next couple ofyears.
They're not even 40 yetmortgage-free, earning north of
(06:16):
$700,000 a year household income.
They'll be able to retire bythe time they're 50, provided
they don't upgrade the house.
And they're actually talkingabout no, we really don't want
to upgrade the house, we want toretire early, and so these life
choices that you make then leadinto financial decisions that
can be really good for you orreally bad.
Speaker 1 (06:34):
And is it your job?
Helping people to understandwhat's really important to them,
that's it.
Speaker 2 (06:42):
You start with the
numbers and people will blurt
the numbers, and it's reallystrange.
People often don't talk abouthow much money they earn or the
debts that they're in and soforth, but when they sit down
with me as the financial advisorand we start the online meeting
or we close the office door orwhatever, all this stuff just
starts being blurted out.
It's like they're desperate totalk to someone about it and I'm
the financial advisor.
So I'm the person they'redesperate to talk to someone
(07:03):
about it and I'm the financialadvisors.
I'm the person they're supposedto talk to about it.
But then, yeah, you get intokind of this bigger life type
stuff.
What do you actually want to dowith your life?
Do you want to keep workinguntil you're 65 or 70 years old?
Good luck to you.
Plenty of people want to dothat and other people don't, and
so you need to line up the lifechoices you make with with the
financial choices.
Speaker 1 (07:21):
Yeah, and have you
noticed the difference in
mindset based on the generation,or if they're baby boomers,
versus gen net, particularlyaround work?
Speaker 2 (07:33):
Yeah, yeah,
particularly around work.
So the older generation thatare now like a lot of my clients
that worked with them aroundthe time that they retired, but
they might now be in their late60s, early 70s, this kind of
thing.
In the beginning of us workingwith them, they were either
working towards a day when theywere just going to stop working
completely, or they were maderedundant yesterday or something
(07:56):
and they're coming and sayingwe've finished up work, let's
make the best use of what we'vegot.
There's a lot of conversationsI'm having with often
40-something-year-olds or maybeeven younger.
Is this idea of making somedecisions and building some
assets and so forth to get to apoint where they don't have to
work anymore if they don't wantto, the idea of 40-year-old, the
(08:19):
idea of them not working?
What else am I going to do withmy time?
I might not want to workfull-time, but I want to have a
purpose and I want to.
I have a reason for getting outof bed.
So we're often making plansaround them, getting into a
position where work becomesoptional and by the time they're
50 or 60, they may very wellcontinue to keep working or they
go and do something else.
(08:39):
They leave the high-flyingcorporate job behind and go and
do something else.
Maybe with that fills them witha little bit more purpose but
also pays a whole lot less moneytoo.
Speaker 1 (08:49):
Yeah, so it's about
finding that balance.
If you have a self-fundedretiree irrespective of whether
that's 40 or 65, it's nice tohave that and you have the
stress of money or having tohave the corporate job where you
have to grind every day.
It relieves that and you can,like you said, have a bit more
purpose.
That's exactly it, yeah, so sohow did you get to where you are
(09:13):
?
What did you study atuniversity?
Speaker 2 (09:16):
I started a commerce
degree at Melbourne University
here in Melbourne that's where Ilive Straight out of high
school went to uni, did mythree-year degree, finished that
, got a job, my first job out ofuni.
I worked at Mercer, one of thebig corporate super funds.
They do administration for alot of big corporates for their
super.
I was there for nearly twoyears.
(09:39):
The last job that I had therewas training a whole lot of
people that had come over fromIndia on how to do the job.
It was kind of a back officeadministration job that I was
doing.
I was being outsourced to India.
That was when there was thisbig boom of outsourcing from a
lot of big corporates at thetime and so I kind of did myself
out of a job through thatexercise.
They I jokingly say they took myjob with them on the plane and
(10:01):
then, um, when they went backhome again and then I just
started looking around, Iactually caught up with a
recruitment agent at the time.
I'd applied for a few jobs andI sat down for a coffee and I
still remember the cafe becauseI think the conversation was so
pivotal in my career.
She'd said to me what studyinghave I done since I finished uni
(10:22):
and at that point I didn't knowthat I needed to do any more
studying.
I'm like, I've got my commercedegree.
Doesn't that mean that I get ajob somewhere?
Someone will give me a job.
I've done all right at schooland uni and the answer to that
is no.
There's this whole whole worldof kind of post uni education,
kaplan courses and and differentthings.
And so she said to me look, youshould just start to do some
(10:43):
studying.
I did some studying, was partway through a commerce program
Kaplan course rather, ended upwith an entry-level job in
financial advice and clientservices team.
So then we're down thefinancial advice stream of that,
that course that I was doing up.
Fortunately, up until thatpoint I'd only done the a couple
of basic intro subjects.
(11:04):
You had to pick aspecialization later on, and so
I picked the financial advicespecialization, continued down
that path and, like, once I gotinto financial advice my mind
was just blown.
I couldn't believe the stuffthat the advisor that I was
working for, the things that wecould do and how we're helping
people and the money people hadand how they were living in
retirement and so forth.
It was just a whole new worldto me.
(11:25):
I had no exposure to thatwhatsoever before getting into
financial advice, and that's 17,18 odd years ago now.
I did client services for a fewyears.
Then I went into paraplaningfor a few not paraplaning
associate advisor for a fewyears.
Then I was advisor for a fewyears, senior advisor and now
(11:45):
I've got the title principal.
I've been advising for a whilenow.
Speaker 1 (11:49):
What do you most
enjoy about your job?
Speaker 2 (11:52):
It's changed over the
years.
So in the early part of beingan advisor it was this kind of
sponge of just learning what wasgoing on and the technicality
side of things how to talk toclients and just learning and
learning and learning as much asI could.
Then it came a period of timewhere I got a whole lot of
(12:13):
satisfaction about kind oftraining and developing the
younger people that were comingthrough.
And now, because of the socialmedia stuff it's more about,
I've kind of gotten to thispoint where I realize that
there's a limit to how manypeople you can help in one way
show, perform on a one-on-onebasis, where financial advice
tends to sit.
But because of the platformslike Instagram and TikTok and so
(12:36):
forth, I can then help so manymore people.
And so it's at a stage now wherea particular video can get tens
of thousands of views and itkind of makes me feel good that
people are learning, they'reeducating.
Hopefully, as a result of that,they're making better financial
decisions themselves withoutactually engaging in financial
advice.
And sure those that feel theyneed a little bit more
(12:58):
specialist help, a bit morenuanced, well then they kind of
reach out for financial advice.
But I appreciate the populationat large isn't going to be a
client of a financial advisor,but through the social media
stuff we can help more and morepeople and educate them and
hopefully they have better livesand better finances and so
forth as a result of all of it.
Speaker 1 (13:19):
Was there a lightbulb
moment when you thought I want
to share my knowledge on socialmedia?
Speaker 2 (13:26):
So it started, the
sharing on social media started
as like a business developmenttype tool.
So most financial advisors theyneed to find a new client from
somewhere, otherwise thatfinancial advice business isn't
going to be in existence.
If there's no clients, there'sno, there's no business.
So early on in my career, andlike every other financial
advisor, you need to try andfind some clients and I, at a
(13:50):
particular stage, I thought oh,there's this thing called the
internet and wouldn't it beamazing if, if, instead of an
accountant referring someone tome because I knew an accountant,
wouldn't it be great if someonecame to me because they just
liked me, for whatever reason?
and then I was thinking itwouldn't even be more amazing if
someone like could learn aboutme whilst I was sleeping and and
(14:10):
I was following Gary Vee a lot,either at that time or not long
after a big kind of personalityonline.
So I started posting onLinkedIn is where it started
written stuff on LinkedIn andthen it became video and it went
from there.
So it started off as like abusiness development type tool.
Nothing happened for years andyears and years and years and
(14:35):
years and years and and then inthe last like three years it's
just shot off and so we get alot of client inquiries, there's
lots of views on the videos and, as I said, kind of helping
lots and lots of people.
Speaker 1 (14:45):
And can you share
with our audience some of the
videos you might put up, becauseI find your videos quite
hilarious, actually, but also agreat way to learn about
finances.
There was one that I thoughtwas quite funny, that you went
to the supermarket and I thinkyou peeled a mandarin and said,
(15:06):
well, I don't need the skin,I'll just take the mandarin,
which I thought was hilarious,right, but I think you've
obviously evolved since then,yeah, so there's a bit of.
Speaker 2 (15:18):
It took a while for
me to realise but through just
consuming others and people thatwere big on publishing content
online that the sooner you sharemore of the real you, the
better.
So rather than me, james,wearing a suit and a tie and
sitting in an office and talkingabout stuff and so certainly my
first videos were like that,but more often than not now
(15:38):
they're ones that actuallyrecord on the weekend when I'm
like I might be walking to thegym and I'll record something
whilst I'm walking to the gym orI'm doing something in the
backyard, and so I've got a lotof videos around like my, my
grass and the hedge and stuffand maintaining the garden at
home, as well as then kind ofinteracting with with the
financial advice stuff.
So the the what I've found worksreally well for me is I'll have
(16:01):
a meeting or some type ofconversation with a client and
there'll be something that I'llexplain to them.
I'm like actually that's otherpeople might be interested in,
whatever that thing is that Iwas just explaining to them, and
so then I'll get my phone outand just record me explaining
whatever it was that I explainedto that person.
I'll explain it to my phone andthen post the video online.
(16:22):
But the less polished, the morereal, the more ums and ahs and
stumbles and if I need to saysomething over again, I just
post that video and it becomesmore real, a whole lot less
salesy and people interact withit and it goes up a whole lot
better.
Speaker 1 (16:39):
I think it's like I
post a lot of content as well.
I think it is good to be rawand authentic because it's
genuine Mm-hmm, although it'shard, when you post something
that you might not feel isperfect, to let it out to the
social platforms, because youwant to critique yourself and
(17:02):
you want to get better and youwant to make sure it's perfect.
But perfect isn't always great.
Speaker 2 (17:09):
Gary Vee talks about
this idea of perfect in the eyes
of the person watching it.
So something that's perfect toyou may not be perfect to
someone else and vice versa.
Like, who are you or who am Ito judge if something's perfect,
just record it and put it outthere and let the world decide.
And you can kind of see, likesome of the videos where I've
(17:30):
literally just rolled out of bedand walked to the gym and I'll
get like a million views onthings versus me when I've had a
shower and I've put on my cleanclothes and I've done all of
this stuff, and then it getslike a couple hundred views.
It's like, oh, I'll put all ofthis extra kind of effort of
sorts into it?
Speaker 1 (17:47):
What advice would you
give to someone that is
studying commerce at MelbourneUniversity, that maybe doesn't
know exactly what they want todo studying commerce at
Melbourne University, that maybedoesn't know exactly what they
want to do, what advice wouldyou give them if they want to
become a financial advisor?
Speaker 2 (18:03):
So I get messages
like that a lot and there's
someone who's been messaging mea bit on LinkedIn more recently
around that.
So my first tip for them is tojust get a job in financial
advice Any job that you canpossibly get.
You're not going to get theassociate advisor type job.
You need to just get intoentry-level administration
anywhere.
Even if it's a day a weekwhilst you're still studying,
(18:24):
even if it's a day a week whilstyou're finished studying.
The hardest job in financialadvice to get is that first one.
Once you've got that first one,then the next one becomes easier
, the next one becomes easierand the next one becomes easier
because everyone wants somelevel of experience, and so you
need to find the person thatwill give you a shot when you
don't have any experience.
(18:44):
Whatever that might be andmaybe it's in something else
that's not necessarily in afinancial advice firm Like I
worked for a super fund inadministration.
I had no intention of gettinginto financial advice at that
stage I didn't even know whatfinancial advice was, but being
in that administration team inthe super fund has some
parallels with working infinancial advice, so I wouldn't
(19:04):
be too caught up on what thatfirst job is for people that are
in university or just finishing, rather than just getting a job
, and then the next job willcome.
And the next job will come Ifyou're in your early 20s or
whatever you've got plenty ofyears ahead of you to sort out
where you're at.
Speaker 1 (19:22):
Yeah, that's quite a
common theme.
We hear a lot fromprofessionals just get your
first opportunity, get your footin the door, start learning
corporate culture, transition itdoesn't mean you have to do
that job forever and you mighthave three or four careers in
your professional transition,you know doesn't mean you have
to do that job forever and youmight have three or four careers
, you know, in your professionaljourney.
(19:43):
But that's okay and I find thatyou know people are just
willing to get out there andknock on doors and get an
opportunity and just startworking and improve themselves
and have a mindset of learningand development.
Speaker 3 (19:53):
tend to do the best
and progress the quickest.
Speaker 2 (19:57):
Absolutely.
Something that's worked for mewell over the years in a whole
lot of different facets of mycareer is just saying yes, like
someone will give you anopportunity, and I just say yes,
and I'll have a little freakout later on about whatever it
is like being a guest on apodcast or in different levels
in my career.
(20:17):
At one stage, the person that Iwas working for the advisor I
was working for said to me andwe had a bit of a restructure in
the business in the tip thetypical pathway would have been
to go into paraplaning for aperiod of time.
He's like we can go intoparaplaning and then come back
to being an associate advisor,or you can just be my associate
advisor.
What do you want to do?
I said oh yes, I'll just beyour associate advisor.
I've got to work out what Ineed to do, but but I said yes
(20:38):
and so just keep saying yes toopportunities.
Might sound daunting, but youknow you, you get used to it and
you'll work out what you needto do and just keep moving
forward by saying yes, yeah andwith the yes attitude obviously
in your position.
Speaker 1 (20:55):
we've got such a big
following across I'd say
globally your following would beand you get lots of engagement
from your followers.
How do you manage your timewith such a big following?
Young family, family walking tothe gym, keeping the garden
looking good, also being aprincipal financial advisor?
Speaker 2 (21:19):
Yeah, that's the
tough part.
So everything's just all mashedinto one.
I'm not a big believer of thiskind of idea of work and life
being separate.
I view it as it's just all onelife, and so whether I'm doing
some work on a Saturday or I'mgoing to pick up the kids on a
(21:39):
Thursday afternoon from schoolor whatever, it's just I have a
job to do from an employmentperspective and I just do the
things that I need to dowhenever that fits in with the
other things that are going onin my life.
So I'm often working late of anight, but like today, I didn't
get into work until nearly 9 30.
I dropped off my son at school.
(22:00):
My wife started work early.
I'll do some work over theweekend.
You know, I finished up alittle bit earlier yesterday.
Not so much finished up alittle bit earlier yesterday,
but one of my sons has tennistraining and so I just kind of
take the laptop, take him totennis training and I take the
laptop and I just sit in theclub rooms of the tennis courts
and a little bit of work for 45minutes.
So you just kind of everythingjust overlaps each other.
(22:21):
I'm, I'm, and I never have beenone, uh, that you know five
o'clock, okay, that's it.
I go home and I don't thinkabout work until the next day.
I don't, I don't think I couldoperate at the level that I'm
operating without, without this,this kind of overlap.
But then you know, around thesocial media and so forth, again
, that's all just intertwinedthroughout the day.
(22:42):
So I'll often run a run, ameeting with a client and you're
kind of on a bit of a high it's.
It takes a bit of, takes a bitout of you.
I'll finish that meeting andI'll always have a bit of
downtime.
I'll just kind of sit there,whether I'm at home or whether
I'm in one of the meeting roomsand in the office, and, like a
lot of people, I'll just kind ofsit there, whether I'm at home
or whether I'm in one of themeeting rooms in the office, and
, like a lot of people, I'llkind of reach, I'll grab my
phone for just a bit of a chillout.
(23:02):
But rather than just looking atother stuff that people have
posted online, I'm oftenresponding back to comments and
things that people have postedon my own content.
So you've got to interact withthat community online.
That kind of fosters theengagement and builds the
following and so forth.
You can't post a video and thenwalk away from it.
You have to interact with it.
But it just all overlaps allday long, every day, seven days
(23:27):
a week.
It all interacts with eachother and I just try and make
the best of it.
Speaker 1 (23:32):
Yeah, I find
personally, when I've got
something on at home that'splaying on my mind that I have
to do it might be something, apersonal item, personal banking
or whatever I find that if I canget that done, then I can focus
better at work.
So, instead of going to worknine to five, say the grind, and
(23:54):
then coming home and that beingon my mind, or going to work
and that being on my mind, goingto work and that being on my
mind, if I'm able to get thatoff my mind, I'm able to
concentrate a lot more.
Yeah, when I'm in the office orwhen I'm meeting people, yeah,
and a big thing for me isexercise.
Speaker 2 (24:06):
like you know we're
talking about, you know running,
and bumped into you on the onthe train a few weeks back,
you'd just been for a run likethat in terms of like
controlling your day, because Ihave no idea where the day is
going to take me.
I know there's certain meetingsthat I need to do, but in, in
and around those meetings I'vegot no idea what else is going
to happen throughout the day.
But trying to get some exercisein in the morning is is near
(24:28):
enough to a non-negotiable to me, whether it's a swim, whether
it's a go for a bike ride,whether I go to the gym or
whatnot.
Particularly on the weekend, Iget really grumpy if I don't get
that exercise in early in themorning, and so I'll often get
up at 5.30 or something and goto the gym or whatever.
(24:50):
If I'm at home, I tend to gofor a swim.
If I'm coming into the city,I'll go to the gym and come into
the city, but that helps me setup the day, and then by the
time I get home, if I'm ruinedand I just want to sit on the
couch, well then that's okay.
I've done my exercise for theday.
Speaker 1 (25:05):
That's good.
Well, thank you for coming into the studio and thank you for
being on the Finance Friendspodcast.
Enjoyed following you on yoursocial media platforms and also
getting to know you on apersonal level.
So thank you, James.
And for anyone who wants tofollow James on the socials,
we'll share them in the link.
(25:26):
Thanks, Sienna.
Thank you for coming on.
James, Appreciate it.
Speaker 2 (25:28):
Thanks for having me
here.
Thanks for having me.
Speaker 3 (25:34):
Disclaimer this
podcast exists for informational
and entertainment purposes only.
The personal opinions of thespeaker and guests do not
represent the view of any otherparty.
If this recording containsreference to financial products,
that reference does notconstitute advice nor
recommendations and may not berelied upon.