FPA Board member, Alison Henderson CFP®sees opportunities through change, which will enable financial planning to emerge as a much stronger profession.

A day in the life of a leader comprises many management tasks: overseeing work performance, managing improvement initiatives, reporting to stakeholders and juggling a multitude of priorities that never seem to end.

Alison Henderson is proud to be a ‘girl from the Gong’. She relishes the beaches, outdoor activities and the natural beauty of Mt. Keira in the Illawarra mountains range that frames Wollongong – the coastal city she works and lives in – about 90km south of Sydney.

The mum of two – a daughter aged 14 and an 11 year-old son – first cut her teeth in financial planning back in 1994, but after a couple of years working in Wollongong, the lure of the ‘big smoke’ proved too irresistible. However, it didn’t take long for this self-confessed country girl to realise the fast pace of city life was not for her.

“Luckily, I had kept in touch with Dianne Richardson, the managing director of the Wollongong firm I previously had worked for, who is now my long time mentor, colleague and friend. Dianne offered me to return to the business to become a planner, where I have stayed, eventually becoming an owner of SWA Financial Planning,” Alison says.

FPA Board

So, how does a self-confessed country girl from ‘the Gong’, with a young family and growing business to manage, decide to put up her hand for FPA Board nomination?

She says it was quite an easy decision: “Having been in the profession for so long, I came to realise that complaining about the status quo, without stepping forward to make a contribution with ideas and solutions, is unhelpful. I wanted to be an active part of the solution to the problems that I see facing the profession and planners.”

Alison was inspired to join the Board by the contributions made by colleagues and friends, who had put themselves forward to shape positive change for both the profession and consumers. She cites former FPA Chair Neil Kendall CFP^®, as well as current Board members, Marisa Broome CFP^®and Delma Newton CFP^®, as being particularly formative in her decision to join the FPA executive team. 

Having been elected to the Board in November 2016, Alison also chairs the Policy and Regulations Committee, and she is also a member of the Future2 Foundation Board of Directors.

As an FPA Board member, a typical month for Alison includes travelling to Sydney at least every two months to attend a Board meeting, which runs for a full day. And twice a year, prior to the Board meeting, she also attends a full strategy day. And as Chair of the Policy and Regulations Committee, she organises and runs sub-committee meetings at least four times a year.

“Obviously, keeping up-to-date with all the ongoing legislative changes to our profession means that I need to actively spend many hours each week reading and keeping across all these changes,” she says.

It’s a busy commitment for the mum of two, who also has the added demands of juggling a growing business with looking after the needs of her clients.

“I’m not sure how I do it,” she laughs. “I guess I don’t sleep much.”

What’s on your mind?

In fact, sleep is one thing she sometimes struggles with. As a practitioner and business owner, Alison concedes there are plenty of things that keep her awake at night, not least, finding the time to manage all the new changes facing planners.

“I am concerned about how I’m going to find the time to ensure I continue to provide the best ongoing advice to all my clients, whilst trying to juggle my Board duties, plus all of the new education, exam and CPD requirements under FASEA, as well as ensuring I get home in time each day to spend some quality time with my family,” she says.

“With our lives busier than ever, it’s going to be a challenge to ensure that my work/study/life balance is achievable and sustainable over the coming years.”

She believes the FPA Return to Learn education hub is a great resource that will assist members to better understand the new FASEA education standards, while providing invaluable information around options on how to meet those standards.

Another issue that concerns Alison is the unnecessary duplication of legislation and red tape in financial services, which is making it challenging to keep financial advice affordable, particularly for those Australians who need it most.

“Over the longer term, it will be important for the FPA to ensure that this excessive duplication and red tape, which could potentially increase as a result of the Royal Commission, is brought to the attention of the Government and regulators to ensure advice can be accessed by more Australians going forward.”

But despite these worries, Alison is also excited by the opportunities that new technology is having on the profession, including automating the repetitive, non-value adding work that needs to get done.

“At SWA, we’ve got several team members with coding skills – that were learnt in conjunction with their financial planning skills – which provides opportunities for us to automate repetitive manual work and to be more responsive to environmental changes that require us to provide targeted strategy and investment advice to our clients,” she says.

And from a Board perspective, Alison says she is excited to see improvements in technology that is making the daily duties of planners more productive by reducing some of the manual drudgery around some compliance tasks, such as professional obligations.

One example she refers to is the FPA’s new centralised CPD solution, which is saving members considerable time and effort in maintaining their CPD records.

“I’m just so excited about the future for the profession,” Alison says. “Once we get through these changes, which are stressful and time-consuming, we’re going to emerge as a much stronger profession.”

Change requires leadership

However, Alison acknowledges that change requires leadership – as a business owner, practitioner and Board member. She believes that during these challenging times, it’s important that the profession has people who are passionate about the long-term standing of financial planning and the financial wellbeing of all Australians.

“I am particularly excited about the next generation of planners who are coming through. I look at the passion and talent of all our young planners in our practice, and they’re inspiring. They give me great optimism for the future of our profession.”

Alison says leadership requires constantly reminding ourselves that the profession will only continue to exist if planners deliver value in the form of great advice and service to clients. She adds that part of great service is retaining our empathy for others and maintaining strong relationships with clients – something that many technology solutions are unable to deliver.

“I think one of the fantastic aspects of our work is that we get to know our clients very well. This leads to the growth of mutual trust and respect. All of the changes currently facing planners will ultimately lead to a greater level of trust in the profession, and that can only be a good thing.”

Right balance

And while there’s plenty happening in her life to keep the candle burning late at night, Alison is mindful that she balances her work with what’s most important in life – her family.

Outside of SWA and her Board commitments, you will often find Alison either on the tennis court or spending time “just mucking around with the family”.

“There’s just so much to do in ‘the Gong’ on the weekends,” she says. “We love bushwalking, and there are some absolutely magic bushwalks here in the Illawarra. And, of course, there are the sensational beaches for swimming and surfing in summer.”

But come winter, you won’t find Alison hibernating. Look closely and you might just find her and family schussing down the slopes in the Snowy Mountains… Board papers and all!

***

Alison Henderson CFP^®

Practice:SWA Financial Planning

Years as a planner: 22 years

Elected to the FPA Board: November 2016

***