Adviser Spotlight: Meet Marnel Stafford

At Foster Denovo, our Advisers are more than just financial experts, they are people with unique stories and passions. In our Adviser Spotlight, we take you beyond the job titles to explore what motivates our Advisers, how they work, and who they are as individuals.   

Today, we are introducing Marnell Stafford, Partner at Foster Denovo. Marnell shares her unconventional journey into financial advising, what keeps her motivated, and a bit about her life outside of the office.  

Can you share a little bit about your journey into financial advising? What drew you to this career? 

I have quite an unconventional background compared to most financial advisers. I used to work in tourism, managing and owning hotels and game lodges in South Africa. I also  ran a consulting and marketing company. However, after going through a tough divorce and losing a lot, my dad challenged me to explore financial advice. He’s always been a motivator for me. He suggested I try it, so I took the tax exam in South Africa, somewhat reluctantly, and ended up getting a distinction. This surprised me because I had never considered myself a “numbers person,” due to not excelling in subjects like math at school. But this achievement made me rethink my abilities, and I began pursuing a career in financial advice. 

I started by working in admin for a friend who was a financial adviser, which made me realise that this industry, like hospitality, is really about people and service. When I moved to the UK to marry my husband, I had to redo all of my exams because of the different financial regulations. That process was daunting, but I’m glad I did it as it helped me understand the UK’s specific tax and pension laws. I joined Foster Denovo in March 2020, a week before the pandemic lockdown. As you can imagine, working remotely in a new job was a challenge. However over time, I thrived in the role, winning the Service Excellence Award three times, and earlier this year, I became a Self-Employed Adviser. 

Could you tell us about a challenging client situation that you are proud of? 

One client situation I’m particularly proud of involved an older gentleman who had lost trust in financial advisers after years of bad experiences in Dubai. He’d seen his pension drastically reduce from £120,000 to £90,000, largely due to adviser fees, making him very wary of anyone in the industry. I was introduced to him through a workplace pension advice session, and after a long two-hour conversation he said, “I think I can trust you.” That was incredibly rewarding. He has since become a client, and earning his trust after his previous negative experiences was a proud moment for me. 

What is one piece of advice you would tell yourself in your first week as a financial adviser? 

I’d tell myself not to listen too much to outside voices, especially negative ones. A lot of people doubted me because I was a woman, older, and new to the field. But you have to block that out. On the flip side, it’s crucial to really listen to your clients as I believe understanding them is key to providing the best service. 

What is the most rewarding aspect of your role? 

Helping people, without a doubt! Financial advice is about helping people to achieve the financial future they desire. The satisfaction comes from building trust and making a positive difference to someone’s life. That’s what gives me job satisfaction. 

How do your personal interests or life experiences inform your approach to financial advising? 

Being a woman over 50 having gone through a divorce, and losing a lot financially, has given me a unique perspective. I often find myself advising women who are going through similar life changes. When you’re emotional, it’s easy to make poor financial decisions, and I can speak from experience. I also understand the importance of considering long-term security over immediate emotional desires; such as prioritising pensions or financial independence over simply keeping a family home after a divorce. These personal experiences allow me to empathise with my clients and offer support that goes beyond the numbers. 

What is one goal you have, either professional or personal, that you’re particularly excited about? 

Professionally, my goal this year was to be in the top ten in terms of bringing new business to Foster Denovo, and I’m pleased to say I have achieved this! I hope to keep that momentum going until the end of the year. Personally, I want financial freedom. After experiencing many highs and lows in life, it’s about reaching a point where I can enjoy what I love, like traveling and spending time with family, without worrying about work. That’s the level of freedom I aspire to. 

Outside of work, what passions or hobbies do you pursue that help you stay balanced? 

I’m a huge foodie, love traveling and photography is another passion of mine. I’m also a die-hard rugby fan, which is practically in my blood as a South African. Rugby unites people in South Africa, so it’s always been a big part of my life. All these interests’ like food, travel, photography, and rugby help me unwind and keep a balance in my life. 

If you could have dinner with three people, alive or historical, who would they be and what would you ask them? 

I’ve thought about this a lot, and one person I’d love to have dinner with is Ricky Gervais. He’s incredibly smart, and I think a dinner with him would be both hilarious and insightful. I’d love to talk to him about his series ‘After Life’, which showed a depth to him that many people didn’t realise. He’s brilliant at mixing humour with deep, emotional truths. 

Another person would be Nelson Mandela. I’d want to ask him about forgiveness. How did he forgive after being imprisoned for so long? His ability to forgive and unite a nation is something I find incredibly inspiring. 

Lastly, I would choose Dame Judi Dench. She brings elegance and wisdom while always having a witty sense of humour about her. I would ask her about her experience as an actress and how she keeps so energetic and relevant at her age. 

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