Five minutes with... David Storm, OneVue

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Former Citibank Wealth Management financial planning head and IOOF distribution head David Storm now works as head of platform strategy, sales and service at OneVue. He is responsible for broadening OneVue’s distribution footprint in the intermediary market, and leading the adviser services and SMSF solutions teams.
 
How did you get into financial services?
I started as an insurance agent with Colonial Mutual in Newcastle in 1987.
 
How would you sum up the sector in three words?
Diverse, complex, opportune.
 
What’s the biggest challenge facing the industry today? 
Articulation of the advice value proposition in a way that means something to the client. This will become increasingly important in the post FOFA fee-based world as planners look to take a more holistic view in the provision of advice rather than the somewhat transactional nature of advice delivery.
 
How would you change financial services?
Firstly, I would streamline the compliance burden on financial planners to facilitate more relevant information to clients. The other area that needs more attention is estate planning as the wealth of the baby boomers transitions to the next generation.
 
What has been the highlight of your career to date?
Surviving the corporate contact sport that is senior management in financial services.
 
What’s the best advice you’ve ever been given personally or professionally?
My first sales manager at Colonial told me to never think about the commission. Look after the client first and the commission will look after itself.
 
Who are your role models?
Visionary leaders, prepared to back themselves and disrupt the incumbent market dominators.
 
What are you doing when you’re not at work?
Not playing enough tennis, playing golf badly but still enjoying it, and spending time with family and friends.
 
What’s your preferred coffee?
Skim flat white.
 
If you could invite three people to dinner, dead or alive, and excluding family and friends, who would they be and why?
- Peter Fitzsimons because I’m a fitz flies fan.
- Warren Buffet because when the world loses its financial head he is a beacon of common sense.
- Bob Hawke.
 
Complete this sentence: If I wasn’t in financial services, I would be… 
I wouldn’t have a clue. I started my working life building power stations so probably something in heavy engineering.

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