Produced By: Ensombl
Stepping into the world of self-employment is always a brave decision, even more so when you have a young family to care for and a longstanding career within larger organizations. In a recent conversation on the podcast hosted by James Wrigley, financial planner and entrepreneur Jayde (“Jay”) Jenkins shared her journey into launching her own advisory firm, Bloom Financial Planning. Although Jay found herself in this new venture somewhat unexpectedly—she jokes she was “a sucker for punishment”—she has since embraced the challenges and successes that come with running a business. Over the course of their discussion, James and Jay revealed insights into the practicalities of setting up a financial planning operation, juggling professional ambitions with parental responsibilities, and most importantly, maintaining the highest standards of professionalism and ethics in their work.
Below is a synthesis and expansion of their conversation, presented as an article of approximately 2,000 words. Their story provides valuable lessons for any financial planning professional, or indeed any business professional, looking to balance personal life, professional growth, and ethical responsibility in a rapidly evolving industry.
James Wrigley opens the conversation with an acknowledgement that Jay’s guest appearance was something of a last-minute scheduling coup. Jay, who had planned to attend a gym session, quickly reshuffled her day to sit down for the podcast. Joking about the guilt of depriving Jay of her exercise routine, James highlights a relatable theme: the need for flexibility and adaptability when balancing entrepreneurship, career goals, and personal health.
Most entrepreneurs, especially those with family obligations or other priorities outside work, discover early on that adaptability is crucial. You might have the perfect calendar planned out—business development calls, client meetings, personal training sessions—only to have an opportunity or an emergency that shifts everything by an hour or two, or even a day. For Jay, giving up a gym session is only a small concession in a bigger puzzle of work-life balance. Yet it sets the stage for the conversation to come: how does one manage a financial planning business, find new clients, maintain professional standards, and still juggle personal life with integrity?
James shares his own gym routine, describing how he squeezes in workouts early in the morning to avoid skipping them later. By three in the afternoon, especially if you’ve been up since the crack of dawn, fatigue can set in. Many financial professionals can relate: early starts allow for personal commitments, but can also induce midday burnout if not managed properly.
Jay, on the other hand, used to be an early bird but now wrestles with parenthood: getting up at 5 AM often feels much more daunting with two young children. While early workouts may remain out of reach, Jay emphasizes that entrepreneurship gives her alternative ways to manage her schedule. These comments point to a broader truth: the time management strategies that once worked can become less viable with changing family circumstances. Flexibility is once again the magic word, and an essential trait for any professional seeking to maintain high performance without sacrificing personal well-being.
When James asks Jay how she manages two little kids and a flourishing financial planning practice, her reply is candid. Alongside her own advisory business, Jay’s husband also runs a separate company with about ten staff. This dual-entrepreneur household leaves them juggling multiple demands: day care schedules, staff queries, and business growth objectives all at once.
Jay explains that while both parents are self-employed, which offers a degree of autonomy, the workload remains intense. Wednesdays were once her day off; now it’s a day for carefully orchestrated “kid handovers” and nibbling at work tasks in scattered pockets of time. Yet Jay emphasizes the silver lining. Compared to a corporate setting where one might be required to commute daily and adhere to a rigid timetable, the autonomy of self-employment brings benefits. This flexibility not only improves her efficiency but also lets her be more present for her children. For financial professionals aspiring to launch a firm, Jay’s experience highlights that success isn’t necessarily about rigid hours; it’s about structuring your day in a way that honors both professional responsibilities and family life.
Before founding Bloom Financial Planning, Jay spent around six years working with Australian Unity, transitioning there through acquisitions of Bridgeport Financial Services and other firms. During her tenure, she primarily serviced a retiree demographic—mostly military personnel tapping into defined-benefit income streams. Jay’s experience in a large organization, dealing with an older client base, stands in stark contrast to the younger clients she seeks to serve today.
James, meanwhile, reflects on his own circumstances—having two children in primary school—grateful for how flexible working arrangements have evolved in recent years. Had the “traditional” five-days-in-the-office setup persisted, both he and his wife would have been forced to rely on daily before-and-after school care for their children. The conversation underscores a broader industry trend: professionals today increasingly seek flexible work models that allow them to blend personal commitments with the demands of a busy practice.
Jay took a leap of faith in starting Bloom Financial Planning. The business sale at Australian Unity accelerated her decision. But while she had long envisioned running her own firm, she admits having trepidation about finding clients. In her previous roles at financial institutions, client leads naturally flowed from internal referrals. Out on her own, she faced the daunting question: “Where will my clients come from?”
Such uncertainty is normal for any new venture. Indeed, many advisors stay within larger institutions for the comfort of a pre-existing client base. But Jay’s story illustrates that clients can materialize from unexpected places—accountants looking to exit financial advice, old colleagues who value your expertise, or professional contacts who support your entrepreneurial dream. Maintaining strong professional relationships, personal networks, and transparent communication can yield surprising opportunities.
Crucially, Jay took a methodical approach: she announced her new venture, engaged with past colleagues, nurtured her online presence (through Instagram and her website), and stayed open to new possibilities. The synergy between her existing network and her public outreach proved instrumental. Her experience affirms that while launching a solo practice can be nerve-wracking, honesty and relationship-building are often the most powerful client acquisition tools.
Establishing a financial planning firm requires more than just renting an office and hanging out a shingle. Compliance, regulatory oversight, and appropriate licensing are paramount, not only to stay on the right side of the law but also to build trust. Jay shares how she researched Licensees extensively, ultimately connecting with Spark Advisors—a licensee that specializes in supporting newer, tech-savvy financial professionals.
Professionalism and ethics are intertwined with compliance structures. A robust licensee relationship can guide an advisor through best practices, legislative changes, and potential ethical dilemmas. In Australia, for instance, advisors must adhere to a Code of Ethics that centers on acting in the client’s best interest, avoiding conflicts of interest, and maintaining professional integrity.
Jay praises her licensee for offering weekend support and prompt responses, essential when dealing with urgent client queries or last-minute compliance questions. A supportive licensee helps maintain consistent standards, ensuring that the client receives advice that is diligently vetted, free from hidden agendas, and thoroughly documented.
During her employment with Australian Unity, Jay mostly served retirees, many with defined-benefit pensions. Now on her own, she focuses on helping professionals and families aged in their 30s and 40s—couples managing mortgages, childcare, and demanding careers. Unlike her former employer’s stance that “there’s not enough money in younger clients,” Jay sees a gap in the market. Younger individuals often have multiple financial complexities but limited guidance. They want to prepare for a secure future but are unsure how to balance immediate needs (like home loan repayments or family holidays) with long-term wealth creation.
Professional ethics informs Jay’s decision to help this demographic. Even if a client’s investable assets are modest today, comprehensive financial advice can yield significant benefits over time. This includes budgeting strategies, life insurance, superannuation contributions, and even foundational lessons in money psychology—key elements that can transform a young family’s financial life. Jay’s choice, therefore, is not just entrepreneurial; it’s an ethical commitment to broaden access to advice.
James asks Jay to outline her meeting processes and fee structures, curious about how she accommodates a younger demographic that may be new to professional advice. Jay describes a four-step process, which includes:
Many younger clients aren’t accustomed to paying for financial advice. They may balk at traditional annual fees or may not be certain they need ongoing service. Jay currently offers an upfront project fee for initial advice, but she’s considering building a 12-month engagement model. This approach ensures that as life circumstances—birth of a child, change in employment, new property—shift, the client can seamlessly adjust financial strategies under professional guidance. Encouraging younger clients to continue with at least a baseline ongoing service respects the reality that life events can invalidate even a well-crafted plan within a few months.
In the early months, Jay struggled with the typical entrepreneurial catch-22: she needed staff support but was hesitant to spend money on hiring before revenue stabilized. After trying to handle everything herself—meeting with clients, drafting the SOA, implementing trades, and chasing up administration—she realized the inefficiency of that approach.
She eventually found a Virtual Assistant (VA) based in Adelaide, someone with deep experience in data entry, paraplanning, and financial planning studies. The VA will handle tasks such as paraplanning and implementation. This frees Jay to focus on client relationships, strategic thinking, and her own well-being.
From an ethical standpoint, delegating tasks can improve client outcomes, too. Overworked advisors juggling every detail risk overlooking client-specific nuances or compliance requirements. When tasks are assigned to suitably qualified professionals—be it paraplanners, administrators, or compliance specialists—clients benefit from more accurate and thoroughly vetted advice. Jay’s story highlights how outsourcing can be an investment in quality and ethical service delivery, rather than a simple cost cut.
Jay also notes that a significant portion of her younger client base finds her via social media channels—especially Instagram. Though she initially created her Instagram to connect with potential clients, she discovered the platform could also foster strategic relationships. A mortgage broker with a large Instagram following now frequently refers clients to Jay, leading to a consistent stream of new leads.
Despite its efficacy, social media marketing carries potential ethical pitfalls. There’s always a risk of oversimplifying financial concepts or failing to include disclaimers that remind viewers this is general information only. Ethical and professional advisors like Jay aim to provide accurate snapshots of advice, while acknowledging that social media posts cannot replicate a comprehensive personal consultation. Reinforcing disclaimers, cautioning viewers about the limitations of general information, and encouraging them to seek personalized advice are critical for upholding professional standards.
During the conversation, Jay shares her plan to create an online financial literacy course. The spark for this venture arose from repeatedly meeting individuals who needed foundational lessons—on budgeting, interest rates, superannuation, insurance coverage—but lacked the resources for a formal financial advice package. By developing a self-paced online course, Jay can close that gap: she offers affordable entry-level support to those on tight budgets, while freeing her schedule for more complex financial advice engagements.
This approach weaves together entrepreneurial strategy and ethical commitment. Offering a baseline financial education product reflects a desire to serve more than just affluent clients. From a broader perspective, the financial planning industry has faced criticism for catering predominantly to high-net-worth individuals. Courses like Jay’s broaden access, ensuring that essential financial knowledge is within reach. In turn, participants who complete the modules may later decide they need ongoing professional advice—thus creating a pipeline of well-informed, genuinely committed future clients.
Throughout the interview, both James and Jay reference “professionalism,” “compliance,” and “client best interest.” But how do these values manifest in everyday client interactions?
Jay and James briefly discuss Voyant, a modeling software that has gained traction among financial advisors for cashflow forecasting, scenario analysis, and client presentations. Tools like Voyant foster transparency. Advisors can illustrate multiple scenarios in real time, showing the direct impact of, for example, making extra mortgage repayments or contributing additional funds into superannuation. Clients can then visualize their financial future, better grasping both potential benefits and risks.
Another software Jay mentions is Plannexa (formerly known as Xplan in some contexts), commonly used for client relationship management (CRM) and compliance. CRM systems help advisors track interactions, log meeting notes, and store documentation in one place. This centralization reduces the risk of miscommunication and ensures compliance obligations—such as file notes, research, and disclaimers—are easily accessible. Reliable software, used correctly, supports a culture of accountability, a key component of professional and ethical conduct.
Near the end of the conversation, Jay talks about wanting a physical office. Much of her client work is currently conducted online or in rented meeting spaces in Brisbane and the Gold Coast. While remote work has its advantages, she misses the camaraderie and energy of an in-person environment. Dreaming of a local office indicates a desire to build not only a business, but also a community hub.
In addition, Jay hopes to create group learning sessions, possibly in the form of Q&A webinars where like-minded clients can learn from each other’s experiences. Such collaborative opportunities can demystify the advice process and eliminate the misconception that money discussions should happen only in hushed, one-on-one settings. For many younger clients, community-driven financial education can be more engaging and less intimidating.
What does it take to build a successful, ethically grounded financial planning business from scratch? Jay’s story reveals several critical lessons:
Ultimately, both James and Jay embody a modern ethos: they champion thorough compliance, recognize the importance of client-centered advice, and embrace fresh, tech-powered ways of delivering financial plans. Balancing personal obligations with professional ambitions, they show that true ethics go beyond regulatory requirements—it’s about genuine care for each client’s well-being.
Jay Jenkins’s journey, as shared with host James Wrigley, underscores the vitality and opportunity inherent in the evolving financial planning landscape. Though her path from employee to entrepreneur was at times abrupt, the swift transition allowed her to shape a business on her own terms—targeting younger clients, embracing digital marketing, and leveraging a supportive licensee structure.
At every turn, Jay’s choices reflect a commitment to ethical and professional standards. From thoroughly exploring her clients’ values in the discovery phase, to cultivating a social media presence that educates rather than misleads, to acknowledging the limits of her own capacity and bringing in outside expertise, Jay’s example aligns with a vision of financial planning that is transparent, client-focused, and deeply human.
For anyone considering a similar leap—be they a financial advisor working in a large institution or someone in a different service profession—the takeaways are clear. Building trust and expertise means honoring your client’s best interest, understanding their personal narrative, and staying adaptable to life’s evolving demands. By combining flexibility, professionalism, and ethical integrity, advisors can help shape a financial planning sector that welcomes every demographic, fosters genuine relationships, and ultimately changes lives for the better.
Accreditation Points Allocation:
0.20 Technical Competence
0.10 Client Care and Practice
0.10 Professionalism and Ethics
0.40 Total CPD Points