OneVue COO Lisa McCallum has worked in the financial services industry for more than 20 years and has extensive experience in wealth management, operations, product development and administration platforms. She takes a five-minute break to give Wealth Professional some insights.
How did you get into financial services?
I got into financial services by accident as I was looking for an accounting role. That was my passion back then but I found a position in the mid 80s working at a stockbroking firm. They were incredible times prior to the 1987 stock market crash and my love for financial services and operations began.
How would you sum up the sector in three words?
Dynamic, challenging, complex.
What’s the biggest challenge facing the industry today?
The biggest hurdles facing the industry today include the competitive landscape and changes brought about by regulations and industry initiatives. It is challenging to balance resourcing between these initiatives whilst dealing with all the regulatory issues.
How would you change the industry for the better?
The industry needs to simplify how products, services and information for clients are made available. FoFA was a good step towards ensuring clients’ best interests were always put first and it would be disappointing if the proposed FoFA amendments change this principal and commission disclosures. Also as clients are becoming more sophisticated, they are becoming more self directed with their investment decisions. It is important to provide them with access to good products, services and tools so they can invest, research, learn and more easily access advice when needed.
Best advice you’ve ever been given personally or professionally?
The best advice I have been given was “you won’t know if you don’t try”. I have been fortunate through my career that I have been given incredible opportunities however if I hadn’t heeded this advice I wouldn’t be where I am today.
Who are your role models and why?
Leaders like OneVue chief executive Connie Mckeage who are visionary, inspiring and strategic. They enable you to be challenged so that you continue to grow and learn.
What’s been the highlight of your career to date?
Working at OneVue and having an opportunity to make a difference.
If you were Prime Minister for a day, what would you do?
I’d look to make initial financial advice tax deductible to further assist making advice accessible to people. I’d also look to make insurance affordable as most people are underinsured and it is important.
What are you doing when you’re not working?
Spending time with my family and friends, playing golf and relaxing at home.
What’s your favourite meal?
My favourite meal is a good roast dinner. This was a weekly tradition with my family during my childhood and it continues today with friends rather than family as my family lives interstate.
If you could invite three people to dinner, dead or alive and excluding family and friends, who would they be and why?
Steve Wozniak, the co-founder of Apple, to get some advice on how to be a successful quiet achiever.
Carrie Webb so I can get some advice on how to improve my golf.
Nelson Mandela to find out how you make it against all odds.
Complete this sentence: If I wasn’t in financial services, I would be…
A travel consultant arranging specialty holidays for small groups.