During the last few months we’ve heard a lot about the different sectors of people in Australia that will be impacted in different ways by the COVID-19 market shock. Director of Fox & Hare Financial Advice, Jessica Brady, has for a long time now been driven to help young Australians get access to financial advice that’s tailored to their generational needs. Having met her business partner, Glen Hare, whilst working at Macquarie Bank, the pair have created a unique business model that centres itself around membership packages rather than the traditional build of an advisory firm.
The dynamic duo completed two years of research into their audience before starting their business, in the pursuit of finding out exactly who they were and what their needs were. The result of their findings led to the building of 3 different coaching packages with varying levels of complexity in the advice they’d give to each group. The member programs are designed in a way so that members can flow between them depending on how developed of an approach they wish to take to their financial situation.
Jessica comments that “Yes, it’s been an awful time, but actually I think it’s going to enable people to start really setting themselves up for financial success moving forward”. “I’m excited for the opportunity to change from a member perspective”. Jessica feels that this time is an incredible opportunity for people to understand their spending and where they can cut down on unnecessary things. She also feels that it’s a perfect time for the value in a savings account to be rediscovered, as well as young Australians’ approach to insurance.
During this time of remote working conditions Jessica’s client’s and team were well equipped for the digital transformation, however she expressed that the Australian fintech space had some improving to do. “We feel like we’re in the middle of financial services giving archaic processes while our clients want a really easy, streamline tech solution, so it’s an interesting challenge as a business to figure out what tech is going to give the best customer services”.
Despite this their early adoption of technology meant that remote working was the last of their worries as COVID-19 wreaked havoc on global markets. They’ve managed to be that important, trusted adviser to so many in a time of need, and have been able to take insights out of this scenario that helps inform their businesses future success.
You can view their full conversation here: