The stories of how Elston advisers have helped people, are all very different. Sometimes it’s about planning for retirement. But often the stories are about other things too. Like family and future, business and legacy. It’s about pursuing passions and opening a new chapter to a personal story that keeps evolving.
When Jae Fraser recently sat down to share his story, financial planning barely rated a mention. Jae talked about his Mum and his love of teaching and his charitable foundation. He has achieved so much, and yet you get the feeling he’s really only just getting started.
Here is an excerpt from Jae’s interview. We hope you enjoy his story. If you have any questions, please don’t hesitate to reach out. We’d be more than happy to help.
What does Little Scholars mean to you?
It means so much to me. Anyone who has started a small business and poured their heart and soul into it knows how it really is a part of you.
The connection for me is incredibly strong too because I’m not just the owner of child care centres, I am also a teacher who cares about early learning. At Little Scholars our goal is to be an extension of the family. Our first priority is to nurture, teach and guide children and help develop all the skills that will allow them to succeed in life.
It sounds like you’re wearing lots of hats
I am. I like being part of the teaching team. I never want to lose touch with the teachers and the children. I’m also an executive of the Australian Child Care Alliance (ACA) which is a not-for-profit, member-funded organisation advocating for the future of Australia’s children. And I’m running the business too of course.
But you found time to talk to a financial adviser?
Yeah, I did. It wasn’t because I was getting ready for retirement. I’m still a few birthdays away from thinking about that. For me it was just knowing that I’d reached a certain point – I’d climbed a fair chunk of the mountain – and I was trying to work out the best way to go from there.
Little Scholars is something that I’d put so much time and energy into getting right. It was all consuming in those first few years. Then suddenly I realised that things were working, the business was growing, and I just felt that I needed to talk to someone with some investment expertise and make sure I wasn’t mucking things up.
When you first came to Elston, what were you expecting?
To be honest, I wasn’t sure. I knew that my business was getting on its feet and that there were things that I probably should be doing, but I wasn’t really sure what questions I should be asking. I just went in with an open mind.
They listened to me. I listened to them. And it all just sort of unwrapped itself in a couple of hours or so. I learned a lot in that first meeting with Kelly. It was a bit confronting at first. But it felt great to have everything explained and to be given things to think about that I hadn’t really ever considered before.
What sorts of things hadn’t you considered?
I think succession planning was the big one. You know, what’s the exit strategy? In my mind, the business was still young and we were still in that growth stage. So, to think about the day when I might step away from the business and move onto the next thing – that just wasn’t on my radar at all.
Of course, there is going to be an exit at some point. And you can’t just arrive at that point and just shut down, you know? So it made me go away and start thinking about it. Which, you know, it was really uncomfortable, but the best exercise I’ve ever done because now I’ve got it sorted for, you know, ten years or more down the track.
Is it hard to picture the day you step away?
It is hard. Or, at least, it used to be hard. These days I have a much clearer picture of what the future could be, for the business and for me. I know that the steps are in place and I can see what I’m working towards, and when I should get there.
And what happens when you get there?
Any number of things. There might be elements of what some people might call retirement – longer holidays and taking it easy. It might be more of what I’m doing now. Or it could be a whole new adventure. Who knows? The main thing is I will have plenty of options when I get to that point. I’ll have the freedom to decide.
So, it feels good to have a plan?
It does feel good. I’ve got this clear view and this clear plan and everything’s kind of being built around that. And even if I have a tough day and things are stressing me out, I know that it’s all worth it. I’m working hard to achieve that future goal, and I’m on the right path.
Also, I have to say, if I am having a tough day, I like to get out of the office and go to one of the centres and chat with the teachers and the children and remember what it’s all for, what it’s all about. It’s a great tonic.
How have your conversations with Kelly evolved?
Bit by bit I’ve become more comfortable with how it all works. Kelly has educated me through different discussions. Initially I felt that investment strategy and all that world was completely opposite to what we deal with every single day. And so it’s just not my focus or something that I wanted to dive into.
But over time, I’ve gained greater comfort and confidence in that side. At the same time Kelly’s understanding of me and what makes me tick has deepened.
She also knows what not to dwell on. There are those boring slides in the yearly review that just make me glaze over. Kelly always jokes about how she’s going to make super sexy for me – but I know she never will. And anyway, there are far more interesting things to talk about.
That’s what I like about our relationship now. It’s moved on from dollars and cents and now it’s about life and getting the most out of it. Exploring options and making things possible. That’s what a good adviser does.
Has the idea of giving back always appealed to you?
Yes, charity is important. That’s always been something I’ve believed in. I think as I talked it through with Kelly and the Philanthropic team at Elston, it became clear that a more structured approach might be something that we could do – and that it could have an impact in a very specific way for something that’s very close to my heart.
That’s where the Fraser Foundation started to take shape. I could see that there was a real need to get the best teachers into the industry, but that for many people who have a desire to get into early learning, there can be all sorts of obstacles. The Foundation helps to remove some of those obstacles.
What sort of impact is the Fraser Foundation making?
The Fraser Foundation is committed to providing tailored scholarships to aspiring early learning educators. And in just 2 years since the foundation was established, we’ve been able to make that a reality for 21 people so far. It’s the best feeling in the world to get a photo of someone on their graduation day and to read their letter of thanks. It is unbelievably rewarding to know that you’ve helped to make someone’s dreams come true.
The Foundation can have a massive impact on communities too. We initiated ‘Project Gundoo’ a program that’s aimed at providing direct support through mentorship and financial assistance to six dedicated educators in Cherbourg – a remote aboriginal community west of Gympie.
Every quarter, we dispatch two educators and a mentor trainer to the service to offer relief to the Centre so these educators can receive valuable mentorship while working toward completing their studies. Our goal is to help these educators attain their Diploma qualifications and subsequently support them in pursuing a Bachelor’s Degree, so the children of this community can see hope and a bright future.
Will the Foundation be your legacy?
I think so. It didn’t start out that way. I just wanted to create something special for the people who currently work in, and those who want to work in, early learning. This sector has done so much for me, and I really just wanted to give back.
Initially I wasn’t quite sure what shape the concept might take. It was only when I started to collaborate with Government departments and ministers that I could see what was needed. I realised that I could bridge the gap between education and support to build a better vocational pathway for early learning teachers.
The legacy of the Foundation can extend far beyond my lifetime. It can go beyond the working lives of the people we’ve helped to become teachers. It lives on through the children who have had great teachers.
We’re trying to make sure that every child has the teacher, that the parent dreams for them to have. Early childhood teachers are the ones who unlock potential, instill confidence, and shape characters. And every child deserves the nurturing guidance of a skilled educator and role model.
What was your own journey into teaching like?
My journey into early education is deeply personal. It began when I was just 13. It was during school holidays that I started volunteering at my aunt’s childcare center. And I just loved it. There was just something about being with the children and seeing the world through their eyes, seeing their curiosity – it just really ignited a passion within me that’s still so strong today.
It wasn’t a straight line from there to where I am today. Just getting into uni and earning the money I needed to get through my degree was a challenge. But I’m fairly tenacious. I’m pretty sure I got that from my Mum.
What do you enjoy most about teaching?
I love everything about the opportunities we create for the future. The children we educate today are the future leaders of our society. Also, there is never a dull moment. It’s high pressure, it’s busy, it’s a huge responsibility, but it is so much fun.
Does the Fraser Foundation accept donations?
Yes, it does. Thanks for giving me the chance to drop in a shameless plug. The Fraser Foundation is a type 1 deductible gift recipient (DGR), which means we can accept donations, and those donations are tax deductible.
We’ve already supported more than a dozen aspiring educators through offering grants and scholarships, and we’re excited about how many more people we’ll be able to help in the future.
If you’d like to know more about the Fraser Foundation, click on the link below.
If you would like more information please call 1300 ELSTON or contact us.
