INTHEBLACK September 2021 - Magazine - Page 56
MEMBER PROFILE
// M Y C PA B U S I N E S S
AT A
GLANCE
Darren Smith FCPA is the
founder of Financial Advice
Matters and Financial
Wellness Matters, which help
individuals gain knowledge
and confidence in managing
their financial affairs.
Employers choose from 16
education modules, such as
goal setting and retirement
lifestyle planning, delivered
to employees across
mining, retail, airline and
not-for-profit sectors.
Workshops are fee-forservice, and Smith soon
hopes to be able to deliver
financial education
sessions in schools.
STORY HELEN HAWKES PHOTOGRAPHY LUKE MARSDEN
FINANCIAL
WELLNESS
DARREN SMITH FCPA DELIVERS FINANCIAL WELLNESS
PROGRAMS TO EMPLOYEES TO REDUCE THE COST OF STRESS.
B
olstering financial wellness for individuals and
employees has helped Darren Smith FCPA build
a profitable and diverse finance business and fulfil
a personal mission.
“Wellness has many dimensions, including financial,”
he says. “About 2.44 million Australians suffer from
financial stress, costing businesses an estimated
A$31.1 billion a year in lost revenue.
“A report by the Consumer Policy Research Centre
found COVID-19 has also amplified the vulnerability
of consumers, because of the scale of job loss and
financial concerns.
“On a personal level, I have seen the impact of mental
health struggles – I lost my brother to suicide 20 years
ago. Although it was not connected to finances, it was
a strong driver for me to help people improve financial
wellness, which has been identified as one of the larger
contributors to suicides.”
INCREASING FINANCIAL LITERACY
While Smith has worked in the financial advice field
for nearly a decade, six years ago his Brisbane-based
firm Financial Advice Matters created a separate brand,
Financial Wellness Matters. Of the firm’s 32 staff,
13 operate as financial advisers. The business has a
dual focus – to deliver holistic financial advice and
coaching, and to deliver financial wellness education.
56 ITB September 2021
“Setting up the new business structure and brand
in 2015 gave us the opportunity to reposition our
values to include financial education, motivation
and, ultimately, wellness,” says Smith, who began
his finance career in 1989 as a trainee accountant for
Commercial Union in Melbourne. He has a masters
degree in business from Deakin University and
experience in the insurance and sales fields.
“We had a group of existing clients who joined
us on our journey, and we also approached HR
departments about running financial wellness
programs for their staff,” he says.
“We are now growing by referral, with 1200 private
clients and a list of companies and organisations
Australia-wide engaging in the area of financial
education, including Qantas, Glencore, The Motor
Trades Association of Queensland, Wesley Mission
Queensland and the New Hope Group.”
Through a multi-module, structured education
program, Smith and his team provide practical tools
and skills participants can use to make more informed
financial decisions.
“It’s about giving people the energy and enthusiasm
to take control of their finances, as well as assisting
them with financial literacy,” he says. “When you
actually get into a session with 20 people, you realise
how poorly many people are managing their money.