David Marasea
Marasea Partners
David is an Old Collegian (’98) and strong supporter of the Marcellin Business Network, having attended many of our events over the years.
This time we visited him in his office in the city.
Asked why he decided to start his own business, David explained that while initially working as a Financial Advisor in a small boutique firm, when it decided to merge and become the Shadforth Financial Group, he felt that the corporate model was less and less what he wanted to be involved in. Feeling he had been there long enough and that he’d lost the ability to have the personal touch there, he bravely went out on his own.
With a lock out period of two years, David virtually had to start from scratch finding new clients. His client base has however steadily grown, and his desire to help others achieve their financial goals by developing long term relationships is ensuring steady growth.
As David’s business enjoys growing success, there are a few factors he puts this down to:
Firstly the relationships formed with clients are of utmost importance. Most of his clients are individuals with some small businesses as well.
Financial planning is 90% psychology and his clients expect him to know everything.
Trust is implicit as many emotions are involved in people planning their financial lives which impacts so much on their personal goals.
Word of mouth is how David gets most of his business, both from other clients and other professionals.
The fact that he is independent and not pushing any other packages or products.
Of course there are always challenges in business. David has found that the government and it’s over zealous regulators have made compliance a burden, thus making it harder to get the work done. However he’s approaching this with a positive viewpoint and feeling that challenges can also present opportunities.
Managing staff can be challenging sometimes. And the ever growing digitisation of our world and AI are an increasing factor. However, David feels the personal touch is always going to be important and not replaceable.
The opportunities offered in his business are in genuinely wanting to help people who are concerned about their long term financial futures and he lives by “It’s what your money can allow you to do, not necessarily about how much you have.”
David continues to support Marcellin as he looks back very fondly to his time here. The concept of community is strong at Marcellin and he feels it is getting lost in general society ”We are more connected, but more lonely”.
Fun Facts
Nickname at school: Mara
Favourite subject: Chemistry
Favourite holiday destination: Italy
Favourite canteen food: Chocolate and Jam donuts, Sausage Rolls
Teachers remembered: Dr Bouscacci, Mr Nunan, Mr Moran, Mr Rhys
Famous people you’d like to meet: Da Viinci, Caesar, Cicero
AFL team: Carlton
Transport: MV Augusta motorbike
Worst school rule: Socks pulled up
Best school rule: having to shave and have a hair cut
Cats or Dogs: Dogs
Mates still seen from school include: Peter Piccione, Dominic Luna, Dave Bennett
Memories: The school looked a lot bigger back then!