Adviser Interview: Joshua Stega – The Wealth Guy

16 July 2015 / By Kris Kitto
We recently caught up with one of our favourite advisers, Sydney based Joshua Stega - founder of JAS Wealth.  We spoke to him about his business and his alternate persona "The Wealth Guy"

Interview:

1. What is the 'elevator pitch' for JAS Wealth? What makes JAS different from every other advice business out there?

We focus on the habits and behaviours around wealth. Our goal is to help successful individuals turn their money into wealth. At JAS Wealth, financial products are just commodities, we spend our time developing a solid wealth foundation for our clients and providing ongoing services as a ‘personal trainer’ for their wealth.

2. What areas of advice do you specialise in?

We are specialists in the psychology around money and help our clients develop the habits and behaviours that will make them wealthy. We can help clients with all aspects of their wealth, from household budgeting through to SMSFs. It may sound very broad, but as I said we focus on the habits and behaviours of money, so we see similarities in the issues people face whether they are aged 21 or in their 80’s.

3. Is there anything specific that you like about SMSFs from an advice perspective?

The best thing about dealing with a client with a SMSF is that they want to be engaged in their retirement strategy. They realise the importance of taking control of their superannuation and want to develop a team of experts to help them do this successfully.

Gen-Y-SMSF



4. What are some of the characteristics an ideal client of JAS? What do they look like? Who are they?

Anyone who wants to build good habits and behaviours around their wealth. Just like a personal trainer, we can’t lift the weights on behalf of our clients and make them fit. We can however help them in every way along that journey from money to wealth. If they want to start the journey, we want to work with them. We also think long term, so we want clients who will be with us for 25 years or more.

5. How do you work with other professionals and what opportunities do you see for collaboration between different professionals?

It has been a challenge because our industry is so stuck in its ways and let’s face it, those old ways don’t work (plus the never really did in the first place). Over time I have been lucky enough to build a good network of like minded professionals but this didn’t happen overnight. Thankfully, one conversation with a forward thinking advisor is enough to erase ten conversations with the others. I am very excited about the changes that will occur in our industry and it will come from those advisers with the passion and drive to challenge the status quo.

6. What do you see are some of the biggest challenges advice professionals are facing at the moment?

The biggest issue is the reputation of the financial advice industry. It is poor and deservedly so.  The financial industry needs to stop seeing itself as a product distribution model, whether it be shares, insurances, SMSF’s or mortgages, and start being a profession selling a high quality service. Financial products will still exist however they should only be an outcome of a rigorous high quality service offering and advisers should never be remunerated for selling products.

7. In addition to JAS you also maintain “The Wealth Guy” brand. Is it challenging maintaining both the JAS and Wealth Guy brands side by side – or is there a harmony there?

That is a good question. The Wealth Guy is a brand designed to make financial advice more engaging. I can see a time when JAS Wealth fades into the background and The Wealth Guy takes over.

8. You also seem to get media exposure on a regular basis – congrats on that – do you have any tips for other professionals on how they can get their face in the paper?

Don’t hire a PR company. You are your best PR company. Get on the phone, send emails, and build a network of people in the media and tell them your story. If you are passionate about what you do, it will shine through.

9. I know you’re a tech-savvy adviser – are there any tools that you are using in your business that you are loving at the moment?

I like to draw on solutions from the best in the marketplace and not necessarily finance related. I am loving Boomerang for Gmail at the moment.

10. Are there any books you’re currently reading or podcasts you’re listening to?

The most recent book I read was the Elon Musk biography by Ashlee Vance, which I thought was a fascinating read. I also like to tune into Tim Ferris’ podcast when I can.

11. When you’re not working hard to help your clients, what do you like to do to relax?

I am a big reader and you can always find me with my kindle in hand. I am also curiously passionate about all aspect of health and fitness, and I am focusing on functional movement at the moment (check out MovNat to see what this is all about).

Kris Kitto
About The Author

Kris Kitto

Kris Kitto - Director at Superfund Wholesale. I really enjoy the opportunity to collaborate with other professionals, especially those who are pushing some boundaries and delivering their services in a new and fresh way. I truly believe that for us to move our industry forward, we need to focus on what COULD BE rather just accepting what we have in the present. That ideal of not being constrained by history, and looking to the future, is a big part of what I bring into our business and also the businesses of professionals I work with. Follow me on Twitter