A beginner’s lesson to us

When we took our celebrity investor Blair McDonough to meet Joel Fleming from UBS Asset Management, we really hit a chord.

Joel runs the UBS Microcap Fund which invests in up-and-coming businesses, and the thought of finding out about the next big thing had huge appeal for Blair.

Watch Joel's full episode of Learn from the Money Masters here. His extended masterclass is also available for free here.

With only one masterclass remaining, it's been fascinating to see Blair go from absolute beginner, when it came to investing outside of property, to someone who could ask and articulate well-thought-out questions on specific asset classes and strategies. This really came to life in the time he spent with Joel.

There is something very appealing about finding the next big Australian idea: something that has the potential to be great, before the rest of the world sees it. Joel explained in detail how his process values individual organisations and what goes into the due diligence processes his team completes for each potential big idea. Blair was fascinated by this and likened the journey of finding the next big thing in stocks to discovering the next big acting talent: that one-in-a-million person who makes it to become a star.

It was enlightening to see him apply some of the approaches behind these investment strategies to his own life: to make it real and to give it more meaning so each made more sense to him.

And I realised that this is actually a really great communication strategy. By likening technical approaches to other more understandable concepts, it is possible to explain complex strategies to those with little to no exposure to the industry.

While the first exposure to an investment product or strategy usually won't be enough for investors to truly trust and understand what they are considering, it does mark the start of a longer education journey. This can give people the confidence to move towards a more diversified financial position which is broader than just property and super.

As Blair has gone through his journey from his first meeting with our adviser Simon Clifford, to being introduced to individual fund managers with different strategies and styles, I have learned a lot myself. Having been in the industry well over 20 years I too have become accustomed to our jargon and the industry’s technical approach to communicating the benefits of what we do.

Blair’s questions however, have reminded me of what real people think when they are starting out on a learning journey.

It's always good to remember this in any communication or education we are creating. Because if we don't take people on a journey from the beginning, they are going to miss out on the benefit of what the industry does so well. Education needs to be clear, in plain speak, and relevant.

This is something we all need to remember.

I look forward to showing you our finale next week – thanks for being a part of the journey with Blair and I.

All the best,


The opinions expressed in this content are those of the author shown, and do not necessarily represent those of No More Practice Education Pty Ltd or its related entities. All content is intended for a professional financial adviser audience only and does not constitute financial advice. To view our full terms and conditions, click here.

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