He’s the man at the front of the Inside Super network with a mission to bring the Superannuation tools and tricks of the elite to everyday Australian’s and he says Inside Super is just getting started. Thirty-year finance and Superannuation industry veteran Andrew Dear stopped in to talk with the Inside Super content team about the business, how his experiences with some of the biggest names in the industry led to this point and what lies ahead in Inside Super’s future.
Andrew is a rare site in the department as his approach to running Inside Super is what he describes as “being in there with the client”. Right on 10am as agreed Andrew makes his arrival. “Where do you want me?”, he asks with a laugh.
Inside Super Content Team: This interview is the first chance to really introduce yourself to your client’s Andrew, what is the very first message you’d like them to hear?
Andrew Dear: I suppose it is isn’t it, although I feel I have a very strong relationship with my current clients this may be beneficial for those who are prospective clients. The main message I try to get across to anyone that doesn’t know me well is that I have been in the game for a long time and I understand how it all operates at the highest level and I understand it well enough to explain it to my clients in plain english. I have seen and advised on investments, both inside and outside of Super for many years. Over the years I’ve seen some horror stories resulting from either really poor advice or clients trying to do it themselves. I guess the one thing I would to say clients is before doing anything make sure you really understand what it is you’re doing. Get some proper advice and really investigate all of your options.
Inside Super Team: That’s quite an interesting point regarding being able to breakdown complex themes into laymans terms, was that a motivator behind bringing you down this path?
Yes, I’d say so. One of the missions that we have at Inside Super is to be able to educate clients enough to be able to empower them to take control of their financial future. Rather than overcomplicating the situation with technical jargon
Inside Super Team: You’ve been in Financial Services close to 30 years, how can Inside Super clients can benefit from your experience?
Andrew Dear: Correct, I started in 1992, the same year compulsory Super was introduced and since that time I have worked for some of Australia’s largest banking and non-banking financial institutions. I have been assisting clients with their Superannuation through multiple financial planning roles including management roles where I managed teams of financial planners. I have overseen the growth of some very large portfolio’s and learnt more than a few trade secrets. I understand all of the options available to clients, from high net worth individuals through to your average investor.
Another specialisation that I have developed over my career that I have used to assist my clients is property investment and how that can fit into a strategy. This enables me to broaden the advice we can offer to suitable clients. What I mean by that specifically is that most financial planners are unable to offer advice on direct property because of the restrictions their approved product lists put on them. The way we have structured Inside Super allows us to provide more holistic advice.
The reality is, and without wanting to sound arrogant, I would say I, and in particular the business is very well qualified to ensure Inside Super clients can feel confident that they will receive the best possible advice available in the market. I have to stress that this is not just because of me, but also the team of equally experienced partners that I have built around me that all have their own individual specialisations. We like to think that we can all be client-focused and collectively build complete strategies for our clients.
Plain English explanations – if you really understand something you can explain it in many ways including simple plain english that everyone understands. This is what I really pride myself on, my ability to demystify these concepts so that clients feel empowered…empowerment through education. It turns people around from procrastinating because they don’t really understand to getting involved and doing something.
Inside Super Team: That gives us a great grasp of Andrew Dear the Founder of Inside Super but what about Andrew Dear outside Super?
Inside Super is a really big part of my life because I am genuinely passionate about seeing people become educated enough to be confident their financial future is on track and be able to make good decisions. My non “work” passions lie in photography in which in the past few years I have become a bit of a macro photography enthusiast and cooking. The biggest kick I get out of photography is that it gives you such an in-depth interaction with nature without interfering with it at all.
Inside Super Content Team: Can you tell us some more about how you have structured your team?
Andrew Dear: For me when I first envisioned Inside Super I wanted to be able to provide clients with holistic advice across multiple disciplines. I have seen clients in past trying to set up Self Managed Super Funds, for example, get into trouble because their advisors were not talking to each other, or even worse they were competing with each other: Accountants, not talking to the financial advisor who is also working independently of the finance broker. I remember talking to a client years ago who had found themselves having to pay stamp duty twice on a property transaction because the SMSF had been set up incorrectly to start with…why because there was no coherent strategy that had been developed and implemented by the advisors before setting up the fund.
So I wanted to bring together all of the professionals required including financial planners, accountants, stockbrokers, solicitors and finance specialists amongst others, and put them around a “table” so that they can develop a strategy that best suits each individual client, and then assist them to implement it. To my mind, this is proper holistic advice.
I have brought together the best people at the peak of their game in their individual specialisation, and created an environment where they can solely focus on the best interests of the client.
Inside Super Content Team: Thank you for joining us this morning Andrew. Anything you’d like to add before we let you get back to it?
Andrew Dear: If what we do can empower people through education to take a step towards taking control of their financial position whether through us or through an alternate avenue then I am confident we have achieved our mission.