For my back office I had to use Intelliflo Office. I’m using Cashcalc and FE because they are effectively the same company now. I’ve got various other tools coming in.
I quickly decided I wanted to leave the investments to the experts. I did my due diligence and for discretionary fund management I’ve gone with EBI. It was about cost and the way they do investing.
It probably took me about two concentrated months to do everything in the back office and get a centralised investment proposition up and running.
I looked into how I would charge but some of the other models were so different from my existing client bank so I had to be aware of that. I have heard with subscription models that it can be hard to increase fees.
I think I was initially trying to be a perfectionist. I think a lot of financial planners are but I think you have to let go and go with your gut. Just make the decision and pay for it.
There was a lot of time I was waiting on the fence and I wasn’t sure what I was waiting for.
I did reach out to mentors and they did help. A lot of people in this industry will give up their time and I would have gone to them early.
Initially I find the important thing with clients is gaining that trust, either with new clients or clients I had in the past.
It is a long lead time and when you’re in an established business you don't see that as much. It is rewarding but it is about trust building. Time can go very quickly with that sort of thing.
My background is working with women. When you go to a bigger company, that identity can be lost so it was really important that my history reflects my future.
I definitely think there was a different way of working with women and I think that as a general rule women can be quite considered with what they do in finance. That in the past is how I work.
