The Financial Wellbeing Podcast

Episode 37 – The Employee Ownership Journey at Ovation Join Chris, David and Producer Tommo as they explore Employee Ownership – a great option when a business owner wants to step away and the employees want to step up. They discuss what drives people at work and how employee ownership relates to financial well-being. This podcast shares some great insights into the sale of Ovation Finance to an Employee Ownership Trust. The legend that is Tight Ass Tommo also shares great money saving tips and we answer listeners questions.   0:15 – Welcomes & Introductions 0:40 – What is this podcast about? 1:13 – Listeners questions, What does subsistence and disposable income mean? 3:00 – Tight Ass Tommo, featuring success stories and shampoo bottles #tipoftheweek – direct debits 6:50 – Employee Ownership Trusts Why is this an interesting podcast topic? “We go to work to earn money, surely it is better if our work can also be fulfilling?” 7:45 – What does Employee Ownership mean? 9.30 – AARUP 10:00 – What is in it for Chris as the owner and how the EOT works 12:20 – Tom’s perspective as an employee. “We are drawn to Ovation’s values and like the way we do things” 13:19 – Differences employee’s notice, building up to the EOT for a while, as Chris steps away the employees have to fill the void 14:48 – Drive, Daniel Pink 15:07 – Explaining algorithmic working and heuristic working 16:25 – Happiness at work is not only based on earnings 16:50 – What drives people at work and how it applies to Employee Ownership 17:11 – Sustainable businesses that will be eternal 17:40 – How the changes effect clients 19:00 – The Ovation journey towards the EOT, everyone has a voice but we have a clear understanding between accountability and responsibility 21:08 – Empowering employees to make a contribution towards a successful business 22:00 – The Flag in the Ground Pyramid, and how to test all these collaborative decisions against it. 23:00 – How does Employee Ownership relate to Wellbeing? 23:30 – Five areas of Wellbeing recap 24:40 – How many companies are Employee Owned? 26:00 – For further information take a look at EOA, enthusiastic people at all points of the EOT journey. 26:40 – Chris has written a new book that explains the pathway to Employee Ownership   Do you have any financial wellbeing questions you would like answered?  Maybe even a #tightasstommo money saving tip you would like to share? If so, let us know and they could feature on a future episode. Contact us through Twitter @Finwellbeing or email – contact@financialwell-being.co.uk   If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop

  Episode 36 – Understanding our Attitude to Risk with Neil Bage The third episode in our three part series on investments. Chris, Dave and Producer Tommo, answer listener’s questions, offer great money saving #tightasstommo tips and we have another interview with Neil (The Sage) Bage. The interview looks at risk profiling and how to understand our approach to investment risk in order to make better financial decisions.   0:10 – A Big welcome & introductions 1.05 – On this episode, second part of interview with Neil Bage, founder and creator of Be-IQ – risk profile solution software 1:35 – Listeners Questions, a question from @ankers43 about access to pensions 5:40 – Tight Ass Tommo Returning unwanted items and beware the man in the pub Big thank you to @not_so_witty and @deborahhicks 7:20 – Pension Scams, be aware, if it is too good to be true it probably is 9:40 – #tipoftheweek PIWoP – Set alerts to see when big ticket items go on sale 11:0 – Interview with Neil Bage, talking about how our behaviours effect how we invest 12:00 – Setting the scene on risk questionnaires 12:35 – What is Neil’s approach to understanding risk? 13:25 – The way we assess risk and why it does not work 14:50 – Our subjective biases have a strong impact on our objective judgments 16:00 – We overweight our feelings towards loss more than we do to an equivalent gain 16:50 – Robo advice 18:05  People have no idea what they will do until faced with a situation 19:05 – What can we do to measure risk? Know thyself, Episode 21 19:45 – We have to take investment risk, so how do we align the risk wanted and risk needed? 21:15 – Psychometric testing 22:45 – Self perception of risk is at odds with our behaviour to risk 23:35 – Risk tolerence 24:35 – Experience and how it changes attitude to risk 25:25 – Its all about decisions and learning from our experiences 26:35 – Neuro Law 27:55 – What we need to apply to plans for the future 28:40 – Reflect on past experiences to know thyself and understand behaviour 29:25 – What Suitable Strategies are doing with Be-IQ and how it can help decision making   Do you have any financial wellbeing questions you would like answered?  Maybe even a #tightasstommo money saving tip you would like to share? If so, let us know and they could feature on a future episode. Contact us through Twitter @Finwellbeing or email – contact@financialwell-being.co.uk   If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop

Episode 35 – The Investor’s Guide to Soufflés This is the second podcast of our three part series on investments. With financial well-being in mind, Chris, David and Producer Tommo provide some practical ideas and thoughts around investment planning.  As ever we have a giggle with a #tightasstommo anecdote and Chris has a big announcement to make. 0:15 – Welcome & Introductions 0:59 – Football and Financial Wellbeing 2:00 – Basic Investment Principles Episode 34 – Positive Behaviour & Investing Successfully with Dr Daniel Crosby 3:19 – The sale of Ovation Finance to employee ownership Take a look at this Adviser Lounge post for further information about Ovation and EOT’s 8:27 – #tightasstommo tip of the week – lunchtime meetings and power of attorney Power of Attorney refund 11:15 – Basics of investments Investments should not be looked at in isolation to an overall financial plan. 12:30 – What is the point of investing? 15:51 – Top Tip 1 To reduce the investment risk, consider spreading the investments around different asset classes. 16:35 – What basics of wellbeing are relevant to investing? 17.20 – Are the investments aligned to your financial plan? 17:45 – Top Tip 2 If you do not like managing your own investments, let someone else do it for you! 18:00 – What’s a multi-asset fund? 18:20 – What’s the difference between an active and a passive fund? 20:30 – Top Tip 3 Treat your investments like a soufflé 21:55 – What does re-balancing mean? 23:05 – David asks “Where is the risk and excitement?” 24:35 – Top Tip 4 Don’t take more investment risk than you’re comfortable with 24:30 – Investing is different to speculating 25:00 – If you are going to speculate or gamble, make sure you can afford to lose it all 25.30 – Summary of tips 26:15 – The danger of playing with investments when you do not know what you are doing   Do you have any financial wellbeing questions you would like answered? Let us know and they could feature on a future episode. Contact us through Twitter @Finwellbeing or email – contact@financialwell-being.co.uk   If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop