“The best way to predict the future is to create it.”

Joshua Parrott‘s journey into the world of financial advising is a reflection on the power of legacy and passion. Born into a family deeply entrenched in the financial and insurance services industry for three generations, Joshua’s path seemed almost predestined. However, it was his personal experiences and dedication that truly shaped his career. From working as a Financial Planning Assistant for his father during his university days to becoming a fully qualified financial adviser, Joshua’s story is one of continuous growth and commitment to excellence.

Joshua’s professional journey is not just about numbers and portfolios; it’s about people and their aspirations. His unique approach to financial advising, which integrates personal life experiences and specialist knowledge, sets him apart in the industry.

Whether it’s advising on listed products or helping clients transition smoothly in aged and disability care, Joshua’s empathetic and tailored approach ensures that his clients receive the best possible guidance. His dedication to staying updated with the latest industry trends and legislative changes further underscores his commitment to his clients’ financial well-being.

Heritage Reimagined

Joshua Parrott, a Financial Adviser, was inspired by his family’s long-standing involvement in the financial and insurance services industry, spanning three generations. His journey began when he worked as a Financial Planning Assistant for his father while studying full-time at university. Initially uncertain about pursuing a career as an accountant or financial adviser, Joshua’s exposure to the human-centered nature of financial advising helped him make his decision.

After completing his Bachelor of Arts/Bachelor of Commerce in early 2024, he passed the national Financial Adviser Exam and became a Provisional Financial Adviser. He then completed the required supervised work activities and structured training under a Barron’s Top 50 Financial Adviser.

Now a fully qualified financial adviser, Joshua aims to further his family’s legacy by protecting and growing his clients’ financial wealth. His dedication to the profession is evident in his commitment to continuous learning and professional development.

Where Work Meets Life

In 2022, Joshua married an accountant named Pollyanna and in December 2023 they were blessed with a daughter, Wynne. Even outside of work, Joshua discusses strategies with Pollyanna, whose expertise has been invaluable. They joke about potentially starting a business together as Parrott & Parrott, and there’s always a chance their daughter might become the fifth generation to enter the financial and insurance services industry.

This integration of personal and professional life has enriched Joshua’s approach to financial advising, allowing him to draw on a wealth of knowledge and experience from his family and personal relationships. Their shared passion for finance and mutual support have strengthened their bond and professional growth.

Guiding Excellence Through Expert Insight

As an Accredited Listed Product Adviser and Aged & Disability Care Specialist Adviser™, Joshua has expanded the breadth and depth of services he provides to his clients. His accreditation allows him to advise on a range of listed products, including shares, REITs, ETPs, LICs, and LITs. Staying up to date with macroeconomic and microeconomic events, as well as legislative changes, ensures that his clients’ portfolios are well-positioned for the future.

In his role as an Aged & Disability Care Specialist Adviser™, Joshua helps clients transition smoothly between environments, requiring emotional intelligence, empathy and mediation skills to navigate differing family opinions. His ability to provide tailored advice in these specialized areas sets him apart from other advisers.

Architect of Your Ambitions

Joshua emphasizes the importance of goal setting in the financial planning process, helping clients create SMART goals. He spends significant time in initial meetings understanding clients’ goals and identifying negotiable and non-negotiable aspects. By presenting multiple options, Joshua helps clients find sustainable approaches that align with their desired lifestyles.

His role becomes even more crucial when clients suffer from age-related diseases or disabilities, as he ensures they are not misled or make inappropriate decisions. Joshua’s commitment to empowering clients through education and clear communication fosters trust and long-term relationships.

When Doubt Met Determination

One of the biggest challenges Joshua faced was advising a retired CEO with poor financial literacy. The client was mistrustful, dominated meetings, and repeatedly asked the same questions. After months of meetings and numerous presentations, the client finally agreed to proceed with Joshua’s advice and thanked him for his patience.

This experience highlighted that even high-net-worth individuals (HNWIs) who have had significant organizational responsibility can struggle with personal financial management and be influenced by personal biases. Joshua’s perseverance and dedication to client education were key to overcoming this challenge and achieving a positive outcome.

To stay updated and provide the best advice to his clients, Joshua follows several strategies. He reads market reports and news updates daily, reviews proposed legislative changes and regularly attends webinars and in-person events.

These include investment briefing lunches, coffee catchups with fund managers, and networking events with other financial advisers and stockbrokers. Joshua values obtaining information from a variety of sources and engaging in in-person discussions to gain diverse perspectives. His proactive approach to staying informed ensures that he can provide clients with the most current and relevant advice.

Crafting Meaningful Milestones

Joshua has achieved several meaningful milestones in his career, including attending overseas conferences and representing his firm at tradeshows. However, the milestone he is most proud of is when a school was built in his firm’s honor for students in Lombok, Indonesia, following a devastating earthquake.

A client funded the rebuilding of the school and named each classroom after someone from Joshua’s business. Seeing the excitement of the children during the school’s opening over Zoom was a career highlight for Joshua. This experience reinforced his belief in the positive impact of financial advising beyond just monetary gains.

Balancing Demands

Joshua believes in setting an example for his clients by balancing the demands of his vocation with his personal life. He uses a color-coded list called the ’12 Spheres of Life’ to ensure he pays attention to various aspects of his life, including faith, health, relationships, education, profession, and community.

By maintaining a balanced calendar, Joshua ensures he is not overworking and is looking after both his personal and professional well-being. This holistic approach to life management allows him to be more present and effective in his role as a financial adviser.

Nurturing Belief

Joshua’s advisory approach sets him apart and earns the trust of employees from prominent organizations. He goes to great lengths to solve clients’ problems and designs a professional and caring experience for them. This includes preparing personalized PowerPoint presentations for meetings to summary his advice, creating unique data visualisations, accessing technical experts from around the world, and travelling to meet clients in-person. Joshua’s dedication to creating a clear and professional advisory experience builds trust with his clients. His attention to detail and commitment to client satisfaction are key factors in his success.

Actionable Lesson for Lasting Impact

Joshua has learned that genuinely wanting to help people from all backgrounds, without prejudice and with patience, is crucial for a successful career in financial advising. Clients can sense if someone genuinely cares about them and their family, and they are more likely to share their true thoughts and feelings with an empathetic adviser.

This lesson has been fundamental to Joshua’s approach and success in his career. His ability to connect with clients on a personal level and provide tailored advice has been instrumental in building long-lasting relationships.

Goals on the Horizon

Joshua is currently writing a book about the history of financial services in Australia, which he hopes to publish one day. While it may not be something of interest to his clients, it is helping him broaden his understanding of the industry and its history.

Joshua’s desire to help people and improve their financial situations remains unchanged, and he aspires to reach more people and change more lives for the better through quality financial advice. His commitment to continuous learning and professional growth will undoubtedly shape his future endeavors in the financial advisory space.