A highly experienced financial advisor, Alan Lazenby leads one of Yorkshire’s top 5 star rated independent financial services which specialise in providing expert advice to company directors, SMEs and professionals.
A self-confessed ‘chatty, financial geek’ Alan is a confident speaker and is often asked to share his experience and insight on finance to national and international audiences.
- What does a typical day look like for you, and how do you structure your time?
I use Mondays for team and Director’s meetings as well as compliance and training, Tuesday, Wednesday, and Thursday are client facing with Friday working from home and doing Teams or Zoom meetings with clients that prefer this method. So, my days are very varied, and this doesn’t consider regular meetings with fund managers several times a month. I remain flexible to clients needing me when it suits them, which includes home visits and evening meetings.
- What’s one myth about your industry or role that you’d like to bust?
That we’re untrustworthy salespeople. Since 2012 no IFA firm has charged commission, and most firms don’t have much in the way of incentive schemes, they mainly get higher basic salaries. Also, most senior IFA’s tend to pass new work to junior team members, because they must service existing clients, and can take only a few new clients each year. So, some large national firms might have a sales culture, but local firms certainly do not, we are a service profession.
- What does success look like to you – has that changed over time?
Success in the past was being able to pay my tax bill and grow each year, after 14 years in business, it’s about seeing clients hit their goals and increasing the number of people in our team to provide a more efficient service, and that includes incorporating AI for note taking.
- What’s one initiative or achievement you’re particularly proud of — and why?
I spent a huge amount of time researching the financial system after Covid, this has helped me advise my clients about the need for real assets to combat inflation, and our clients were well informed in advance about the need to hold physical assets like gold and silver, well before they became fashionable. When governments print money, cash becomes a wasting asset, and you need professional advice to protect your wealth; we have excelled at keeping our clients informed of this risk.
- What legacy or impact do you hope to leave through your work?
Our moto is ‘With you for Life’ our impact is our ability to look after whole families and inter-generational wealth. We look after the children of our clients, even though they’ve very young and mostly have little, it’s our belief that the young need help as much as those who have built wealth over time.
- What’s the most surprising lesson you’ve learned in your leadership journey?
The poor technical standard of many experienced financial advisers, this is why we have chosen now to bring on a trainee instead. If you want talent, you need to nurture it and this can only be done by taking on younger people who are willing to adapt and learn, there is some truth in trying to teach old dogs new tricks.
- How do you stay motivated when things get tough?
I remind myself that I am responsible for my team’s mortgage and other bills each month, and for the future retirement and standard of living of my clients. Others can walk away, but I am not in such a position. I have to endure, not matter what, it’s my responsibility and not letting people down is strong motivation.
- What are you currently reading, listening to, or watching that’s helping you grow?
I read very little fiction; however, I have recently read the Harry Harrison ‘Stainless Steel Rat’ series of books. This is quaint 1970’s science fiction storytelling and is very comically written.
As a geeky finance guy, I’m always reading what some might call dry books, but what I see as broadening my understanding of the world. So, ‘The Ascent of Money’ by Niall Ferguson, ‘The Tower of Basel’ by Adam LeBor, and ‘The Power of Habit’ by Charles Duhigg, are just a few of the many books I’ve enjoyed.
- Which leader or entrepreneur has influenced you the most — and why?
Professor Jordan B Peterson, author of ’12 Rules for Life’.
He’s both an academic and a businessman. He has been very influential during difficult times. He explains important themes in a way that is easy to digest and enables you to immediately use them in your life. So, rule 2 is ‘Treat yourself like someone you are responsible for helping’ and rule 6 is ‘ Set your house in perfect order before you criticize the world’.
The first is having self-worth and ensuring that you don’t always put people first if it reduces your own capacity, you can’t look after other people if you’re a mess, this is about self-reliance. The second is ‘tidy your bedroom first’ another words, sort out your own imperfections before you look at someone else’s, start your day by tidying your bed, then the room, then your home, then your street, and perhaps helping in your local community. Stop trying to run the world, start closer to home! So, when the temptation comes to shout about the state of the world, look at your bedroom first.
- What’s one piece of advice you wish you’d been given at the start of your career?
Be persistent, this is a very difficult and complex career, and sacrifices are needed in the short term to succeed long term in this business.
