First Financial Principal James Wrigley is well aware of the rapidly changing financial services landscape in Australia, but he’s determined to stay one step ahead of the curve.
James has embraced the social media channels of TikTok and Instagram to impart financial information, and his innovative spirit has now been acknowledged on a national scale.
James has made the voting shortlist for the Financial Standard’s Power50 – recognising the 50 most influential financial advisers in Australia.
The 50 advisers who collect the highest votes will have their names published in the October 31 issue of the Financial Standard.
According to James, the accolade is an unexpected bonus of making financial information more accessible to a wider audience.
“Ultimately there’s a whole slice of the population who aren’t going to be able to afford to pay for financial advice, so making information more accessible and knowing people might pick things up from it is worth my while,” he says.
It all started with LinkedIn
James began his foray into the world of ‘FinTok’ (financial TikTok) and Instagram after developing his blogging skills on LinkedIn.
“I started out posting written pieces on LinkedIn and after getting used to that, I got the guts to record some videos and try to get used to the practice of hearing and seeing myself on the screen – which is hard to do at first.
I gave TikTok a try and I have become comfortable with it now. I get feedback from clients all the time who have seen me on the platform and it’s sparked their interest in learning more about the topic I’m discussing.”
While James’ social media habits have attracted new business for First Financial, he enjoys the connection with commenters from every corner of the globe.
“It’s nice to think that my information will help someone who might have been wondering what they need to think about for retirement or investment. It bridges that gap to connect people who perhaps don’t have access to any financial advice at all.
There are people who see the TikToks and think, ‘I should talk to someone about that,’ and they give me a call and become clients, which is great as well.”
Video Statement of Advice
The financial advice landscape in Australia is rapidly changing and the team at First Financial is committed to keeping abreast of trends to best connect with prospective clients and service current clients.
For almost 20 years, financial advisers have delivered a written statement of advice (SOA) – often totalling 50 pages, as per the Corporations Act.
The Financial Planning Association of Australia (FPA) is working on how they can deliver that SOA in video, rather than in a written format.
And according to James, it’s a welcome trend.
“When these changes come into play there will be an opportunity for financial advisers to use the advancements in technology to allow for the more efficient production of financial advice.
This will be far more engaging for many clients and a lot of the younger advisers coming into the field now are more digitally native and used to recording themselves and making videos for social media platforms.
The practice I have had in creating a script and creating a video for TikTok or Instagram will definitely help me with this transition as the industry picks up on the trend.”
Sound advice… anywhere, anytime.
COVID has changed the where and how for many workplaces, and these changes look as if they’re here to stay.
Despite the setbacks of a pandemic, the increased use of technology in the financial services industry has allowed First Financial to deliver financial advice across national and international borders at the click of a button.
“The boundaries of location have been broken down in the last couple of years and, in the most part, clients couldn’t care less if you’re in Melbourne or Brisbane, as long as you’re offering well-informed, individualised advice.
A combination of embracing new technologies, breaking down these barriers of geography and changes within the industry to simplify procedures will really change the outlook for financial advisers and our clients in the next few years.
I look forward to these changes and my presence on social media means I have a good idea of what people are looking for and expecting from financial advisers and where future trends will lie.”
Power50 - Recognising James Wrigley
Don’t forget to tune into James’ TikTok and Instagram channels – you might pick up some handy tips!
First Financial is ahead of the pack when it comes to specialist investment management, holistic financial advice and retirement planning services.
A boutique, client-centric firm, our relationships with clients are intimate, valuable and engaging.
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