Laila Arain & Stephani Lucas | How'd You Do It & Why Should I Care?

Laila Arain: 0:00

Hi, everyone. Welcome to the next episode of the Bay Street Capital Holdings podcast titled, How'd You Do It& Why Should I Care? This series ends to highlight women doing amazing work in various industries. So today, we are so lucky to be joined by Stephani Lucas, who's founder and CEO of the Annuity Consultants. Hi, Stephani, lovely to have you on the show.

Stephani Lucas: 0:20

Hi, thanks for having me. I'm super excited to be here.

Laila Arain: 0:23

So I guess we can first start off with a quick introduction as to who you are, and an answer to the main podcast question, which is, how do you do it? And why should I care? Yeah, absolutely.

Stephani Lucas: 0:32

So um, a little bit of background, or are we going to do my story first?

Laila Arain: 0:37

Yeah, let's do a bit of background about you. Let's go.

Stephani Lucas: 0:39

Okay, great, great. Um, so I founded the annuity consultants about 11 years ago, after many years of being in the industry. And I grew kind of frustrated with the way things are done. And so I wanted to do things differently. And so I guess why I'm here and why you should care is the fact that I am bringing more love, compassion and kindness to the insurance and financial space through our heart centered planning series.

Laila Arain: 1:08

That's so lovely. And I guess my next question to you is, this is such an interesting idea that you came up with what inspired you to join this industry?

Stephani Lucas: 1:16

Wow. Well, to be really honest, I actually was trying to pay for college. And I'm one of 10 kids. And so it wasn't really in the plan for my parents to be paying for school. And I was, the second should have been the sixth to graduate from high school, and the first to go to college. And so this really got me into the industry. And then I found that I was really good at it. And I had passion for it. So I 21 years later, I'm here and now taken on an even bigger role, and really looking to change it from the inside out.

Laila Arain: 1:53

That's really awesome. So you seem like quite a trailblazer. a go getter, if I can call you that. But you seem like you kind of went out there. And you had an idea. I'm just curious, what were the best resources that helped you along in your journey?

Stephani Lucas: 2:06

Really having the ability to ask for help. And knowing that eventually things would evolve? And we would not be in this like, current paradigm? I guess. So. So the resources that I really utilized was knowledge from other people that are experts in the industry, and being able to access like different technologies, which our industry is pretty far behind in that. So bringing technology into our process.

Laila Arain: 2:47

Very, very important. Yeah. Awesome, awesome. And it seems like, you know, you had a lot of experience before you entered the industry, and you spoke to a lot of people. I'm curious whether any lessons that you wish you would have known before joining your industry.

Stephani Lucas: 3:00

Yeah, I wish that I had known that I didn't need to compete with the men that, you know, I didn't have to be one of the guys. And I ended up really suppressing my feminine energy, and utilizing my masculine a lot. And it did not do me any favors. And it really it actually kind of led to burnout. And it was it was not cool. So I wish that was something that I knew that, you know, just because it's a male dominated industry doesn't mean that I have to be like a man. So

Laila Arain: 3:40

yeah, that was probably a great learning opportunity for you. And sort of on the note of learning opportunities, what would you say was your biggest failure? And what did you learn from it? I know, it's a tough question.

Stephani Lucas: 3:51

Yeah, yeah, geez, um, you know, there are a lot of failures as an entrepreneur. I think my biggest was at the beginning, I was making so much more money than I had ever made before. And I wasn't necessarily in service of the people that I was working with, or that were my customers. I felt like, at one point, I definitely was in this like, greedy kind of mode, you know, and it was all about me. And it wasn't about being in service and giving back. And, and it took me a while to realize that after losing some, like key clients that it was, I should have been investing back in them. And I should have been doing more for them not expecting them to do more for me. Yeah,

Laila Arain: 4:40

no, definitely. No, yeah. Again, I'm glad you took it as a learning opportunity and landed quite early on in your career so that you can really develop and following on from that you've been dropping like little gems of advice here and there throughout this call. I'm curious though, what would be one piece of advice you would give somebody who is wanting to pursue a career similar to you yours. Yeah,

Stephani Lucas: 5:01

patients. So this industry can be incredibly rewarding, not only in being lucrative as far as making a good living, but also being able to help people and being able to be a part of some of the most important decisions people make in their lifetime. And so my advice to anybody wanting to get into this industry would be really to have patience, to be committed to hard work, and really planting the seeds. Because it takes time people that get into this industry, you're not just automatically, you know, trusted, because you're, you're doing this job, right, it takes time to build a good reputation, and for people to want to do business with you. So patience is key. Yeah,

Laila Arain: 5:53

definitely. And I would agree, the reputation is also everything as well. So important. Yep. And following on from now, what would be one common myth about your industry that you would like to debunk right here right now?

Stephani Lucas: 6:04

Um, you know, there's this like, used car salesman like slimy, you know, that people in this industry are in it for themselves? And that, you know, it's not about their customers, it's about making the money. And I don't agree with that, you know, there are people like that, for sure. And I feel like they are the ones that are highlighted that, you know, a lot of times people are focused on the negative, just like how news is put out there. Right. It's like, the negative stories always catch. And so I think the majority of the people in this industry really, truly are in it to help the people. And I just want people to know that there are a lot of people in this industry that can be trusted, that are in it to be in service, and that really do care about the end, you know, client.

Laila Arain: 6:56

Yeah, definitely, man, thank you for debunking that. Um, obviously, as a founder and CEO, I'm sure you're super, super busy. But what have you read or listened to recently? That's really inspired you?

Stephani Lucas: 7:05

Yeah, so I have a few, um, anything dropped Dr. Joe Dispenza. I love but I recently read, you are the placebo. And that really has taught me a lot more about how much power we have as humans to heal our own bodies, and not have to rely on you know, medications and different things like that, that in America, it's so easy for us to just go and get a prescription. And not that I'm saying that medication is not useful, because some people need it for certain things, right? What it's easier to go and get like that band aid versus going inward, and like doing the inner work to deal with things, even like physical ailments can be healed by you being positive and doing the right things for your body. So, Dr. Joe Dispenza. And then I also recently that one I read, and it's a long read, but totally worth it. Um, and then I like audibles. Because you know, I can listen to them while I'm doing other things. Russell Brand's revelation, listen to that, and very, very much connected to a lot of what he's talking about in there. And then breath by James Nolan, I think it is, I might be wrong on the author. But, um, again, going back to breathing is such an important thing. And if you're not aware of it, like so often, you can find yourself holding your breath and your body needs the air, right, we need to live. And so many people hold their breath and don't even recognize it. So it's important for our health. It's important for just being grounded and yeah, so those are, yeah, recent. So thank you

Laila Arain: 8:53

for those recommendations. And following on from that, obviously, being an entrepreneur, you need to sort of rely on a network and get to know people I'm just interested in who are three people in your life who have been the most influential to you.

Stephani Lucas: 9:05

Oh, wow. So my sister, first and foremost, I mean, she's like, the kindest, most loyal understanding like amazing human. She is. I mean, she can do anything. And if she puts her mind to it, like she's incredible, and she's sort of she was like my mom and my best friend all wrapped up into like one person being one of 10 kids like, she was the oldest and she kind of took care of us and she is somebody who has like such a different take on life than me her path has been significantly different. But her perspective is always so welcomed and like I learned stuff from her all the time. So she's been a great, great like, strength in my life. And then my really good friend Amy McElwain, she is an incredible human, just, she's an entrepreneur, she is ambitious, she's smart, she's kind, she really taught me how to go out and explore the world. Like, I, I didn't talk about this, but I got sober eight years ago. And when I got sober, it was like, I had to learn how to relive. And I had never had traveled outside the world, like outside the country before, due to the fact that I grew up in the household that I did, we didn't have money to do that. And so I was very limited in my perspective. And so she really encouraged me to do that. And when I started traveling, I just got to immerse myself in so many different cultures and, like, expand my knowledge of so many things. And another thing that she really taught me was the acceptance of all people. Right. And, and not only accepting all people, but accepting myself. And, and obviously, that's like the foundation of accepting others is, you know, loving and accepting yourself. And, and so yeah, she's been a real inspiration to me. And then the third person would be, he's, I consider him a mentor, as well. He's a client. And he was actually my first client, and I've worked with him. His name's Neil McAuliffe. I've worked with him probably about 1314 years, because I've worked with him at the company I was with before I started my company. And he has showed me like, what a father and a husband could be, like, such a good, good man, and so kind, loving, and gentle and just compassionate. And like, all the things, right. And, um, I remember one year, I was having a tough time after I got sober with my family, and he actually invited me to his family's home to spend Christmas with them. You know, yeah. And, and I'm friends with his daughter, who, she's, she works for him. And she has for like, 14 years. And she's in success, like in line to succeed and take over his business when he retires. And so like, um, you know, his wife and his other kids, everybody I'm close to, and it's just, like being embraced like that, and taken in, you know, I was like, sort of orphan but not really, you know, and just to have somebody to know, like that they care about you that much that they would, you know, ask you to be a part of that. So,

Laila Arain: 12:44

those are my people. That's awesome. And I'm so glad that you're surrounded by such a supportive

Stephani Lucas: 12:48

group of people. Yeah, thank you.

Laila Arain: 12:50

And then finally, to round off our conversation, what is one piece of advice that you wish you gave yourself at any point in your life?

Stephani Lucas: 12:57

Oh, geez. Um, I guess, like, you know, just be kind and generous to everybody, and really be in service of others. Just, you know, I think that we are here for a reason. And a big part of that is to give to others, and not to take. And so I think just being better about that, like, at a younger age, and just being more committed to being better

Laila Arain: 13:34

behind. Yeah, to be a good person at the end of the day. Totally. Well, yeah. Well, that rounds up our conversations. Definitely. Well, thank you so much for taking the time to speak with me today. It was truly wonderful to hear your story and to engage in a great conversation.

Stephani Lucas: 13:47

Thank you so much. I appreciate it.

Laila Arain: 13:49

Thank you. Bye bye.