My first job was in 1989. I was a trainee Japanese government bond analyst with Standard & Poors. I finished my final university exams on the Friday and started on the Monday. It was a great opportunity and my first foray into the world of financial markets. I moved from covering JGBs to the Australian share market, and thus commenced my career in equity markets.
I am now managing director of Burleigh Heads-based boutique financial advisory group iInvest Securities. We specialise in products listed on the Australian Securities Exchange and pride ourselves on our programs that help educate the average person on the sharemarket.
BEST BUSINESS ADVICE YOU’VE RECEIVED?
Always be on the lookout for changing market conditions. Pre-empt changes where possible by being conscious of your competitors at home, and changes to offshore stocking businesses. Always be ready to adapt.
WHAT YOU WISH YOU KNEW WHEN YOU FIRST STARTED OUT?
Only work with people that share your values. It’s important that you’re on the same page with others involved in the business.
YOUR GOLDEN RULE IN BUSINESS?
If you look after your staff, they will look after your business. Allowing key staff to buy into the business is great for both the business and the employee. It locks in key resources and there’s no greater incentive for an employee to work hard for the business than if they benefit directly.
A LONG LUNCH: A WASTE OF TIME OR ESSENTIAL?
A long lunch is definitely an essential. There’s no better way to get to know a person, make good contacts.
WHO IS ON YOUR BUSINESS MOBILE’S SPEED DIAL?
Our accountant and longterm business adviser here on the Coast.
IF YOU HAD $1M SPARE, WHAT INDUSTRY WOULD YOU BE INVESTING IN NOW?
Definitely the share market. With interest rates at historic lows, we’d be looking at highyielding blue-chip investments over the medium-tolong term.
WHAT SHOULD GOLD COAST PRIMARY STUDENTS BE STUDYING?
Learn about savings and investments, particularly the effect of compounding returns over time. The share market is a great alternative long-term investment, and you don’t need a lot of money to get started.
BIGGEST FRUSTRATION DOING BUSINESS ON THE GOLD COAST? AND HOW TO FIX IT?
The general mistrust of financial advisers on the Gold Coast due to scams we’ve experienced here in the past. With education standards in the industry lifting, and licensees obligated to do strict due diligence on new staff, the reputation of the industry is slowly improving.
Joann Condon, managing director of Burleigh Heads-based iInvest.