Five minutes with…Philip Reid, ARRIA

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The Association of Real Return Investment Advisers (ARRIA) has just been launched to help advisers incorporate real return strategies into their businesses. General Manager Philip Reid discusses hockey and the word “financial adviser”.
Why financial services?
I’m an accountant and manager by trade. I have seen first-hand the benefits sound financial choices can make and enjoy being part of an industry that has such potential to support our economy.

How would you sum up advisers in three words?
Considered, leader, catalyst for change.

How would you change the industry?
Remove contradictions… as an example regulations and guidelines require advisers to do the best thing by the client, whilst insurers place limits on the use of alternatives… some of which help manage that risk.

Best advice you’ve ever been given?
Happy wife… happy life… then find the passion in what you do.

What’s the most important thing an adviser can do to develop their business?
Again understand their unique ability and passion, and build a value proposition around that.

What’s the biggest challenge facing the industry today?
The word financial adviser… it’s like saying doctor… can be anything from doctorate in poetry to heart surgeon. I think we will evolve advice cultures that mean something… hopefully like ARRIA. This will communicate to some extent what you believe.

NRL, AFL, soccer or other?
Hockey… Casuarina Div2 Mens Aqua (average age late 40’s)… oh Kookaburras for world cup victory in a month or so.

What’s your favourite drink?

If you could invite three people to dinner, dead or alive, and excluding family and friends, who would they be and why?
Nelson Mandela… Leadership, Winston Churchill… Leadership and Abraham Lincoln… Leadership.