Planning suits Kevin to a tee

1. Name: Kevin Manshon

1. Name: Kevin Manshon

2. Job title: Executive manager, financial planning

3. Dealer group: Westpac

4. Age: 50

5. Qualifications: CFP and Diploma in Financial Planning

6. Number of clients: About 350

7. Remuneration: Salary plus bonuses

8. How long in profession? 10 years

9. What attracted you to financial planning ?

I had banking and financial experience overseas and therefore it was a logical step to follow when I came to Australia in 1983. I joined the Bank of Melbourne as branch manager with a view to move into the financial planning area. While studying financial planning through Deakin University, via distance learning, I was approached by Jim Leishman (from Leishman Financial Services in Melbourne) to work for him.

10. Background:

More than 30 years experience in banking and related entities.

11. Who is your target market and how do you reach them?

A cross section of clients ranging from corporate executive to indi-vidual retirees and contacted through the bank's network.

12. Do you have any superannuation clients?

About 30 per cent of the portfolio.

13. List the top five issues currently facing financial planners:

1. Providing ongoing monitoring and service to a growing client base.

2. Educating clients with regard to true long-term wealth creation as opposed to short-term performance.

3. Ongoing training and upskilling of oneself both technically and academically.

4. Getting customers to comprehensively explain their goals and ob-jectives, resources and attitude to risk.

5. Encourage clients to think laterally about their how their assets and resources can work for them.

14. Do you think these issues will remain paramount in 10 years time?

Yes. Despite advancements in technology and Internet trading, many clients will still be looking for a one on one relationship with a financial planner to guide them through the maze of complex legisla-tion (especially superannuation) and an ever-evolving financial in-dustry.

15. What motivates you as a financial planner?

To be in the privileged position of helping clients secure their long-term financial future.

16. What has been your best and worst move for a client?

As a dedicated financial planner, one is always looking to do the best for your clients. The hardest thing for a financial planner to do is convince a client who is determined to cash out an investment not to do so, but to ignore the volatility in favour of long term gain.

17. How long is your working week?

45 to 50 hours a week.

18. How much money under your direct advice?

About $100 million

19. Best marketing tip for attracting new clients?

Unless you have the luxury of an ongoing referral source, such as the banks, your best referral source comes from your existing client base. It is also a good idea to have network arrangements with ac-countants, solicitors and other associations.

20. Do you use any portfolio management technology? If so, which one(s) and why?

A range of funds from some of the leading fund managers are available through Westpac's master trust. It is then a matter of understanding the combination of the different styles of management in order to suit your client's investment profile.

21. Any "clients from hell"?

Those who are never satisfied with short-term performance and forget their long-term goals and objectives.

22. Do you have any role models?

Yes, Jim Leishman (from Leishman Financial Services in Melbourne) who taught me to "walk in your client's moccasins". Jim gave me a basic grounding in financial planning that I found invaluable and always emphasised the importance of putting the client first.

23. Any extra industry involvement or activity?

It is important to have a balance to life and given the demands of the role, any free time is very much valued. Therefore extra industry involvement or activity has been limited to date.

24. What other issues create success for you?

Reading motivational materials from authors such as Paul Hanna, Wayne Dyer and Deepak Chopra.