Mother and Daughter Financial Planners: Building a £100M AUM Partner Practice! Adele and Victoria Cable

What's the best age to become a financial planner?

Adele Cable changed career at 53, convinced she was nearly on the ‘scrapheap’. Victoria Cable started at 23, convinced nobody would trust someone her age with their finances. Together they've built a practice worth £2.8 million in three years, and Victoria's own business is already valued at £400,000 after just a year and a half.

This week on Financial Planner Life, Sam is joined by an extraordinary mother-and-daughter duo from Advanced Wealth Management at St James's Place to share exactly how they got here, what they've learned, and why the age question that puts so many people off financial planning is completely irrelevant.

From Adele's career in corporate sales at Xerox and HP, to Victoria starting as a bag carrier watching her mum in client meetings, to becoming the top 0.01% of advisers at SJP for protection advice, this is a story about what happens when you back yourself, find the right environment, and build something that genuinely changes people's lives.

This one is for anyone who thinks they're too old, too young, or too inexperienced to make the move into financial planning.

The episode's takeaways 🔥

• Why Adele's decades of corporate sales experience turned out to be the perfect preparation for financial planning
• What the Saint James's Place Academy actually puts you through and why it's worth every minute
• How Victoria went from bag carrier to top 0.01% protection adviser in under two years
• Why starting as a professional support specialist is one of the smartest routes into the profession
• How Victoria's youngest client is one week old, plus why intergenerational planning is the biggest opportunity in advice
• Why protection is the most undervalued entry point for building deep client relationships
• How Adele built her own networking event when every existing group turned her away
• Why lived experience, divorce, career change, and financial uncertainty make you a better adviser
• What a £400,000 business valuation at 24 years old actually looks like in practice
• Why the profession needs more women and what Adele and Victoria are doing about it

Whether you're considering a career change into financial planning, already in the profession and looking for inspiration, or simply wondering what it looks like to build a family business that genuinely matters, this episode delivers.

Financial Planner Life is sponsored by Redmill Advance

Whether you're starting out, already qualified, or building a training academy, Redmill Advance delivers expert-led learning, exam support and CPD from Level 4 to Chartered.

✅ Trusted by top UK firms

👉 www.redmilladvance.com/fpl

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Transcript

Why Age Is Not The Barrier

SPEAKER_04 0:02

So, what is the best age to become a financial planner? Well, today I'm joined by a mother and daughter duo. It's Adele and Victoria Cable from Advanced Wealth Management at St. James's Place. And today we dig deep into both their journeys into financial planning. One changing career at the age of 50 and the other getting involved at 23. We dig deep on how they've managed to reach 100 million within three years of being a partner of St. James's Place. And we look at Adele's journey from top sales role into becoming a financial planner and Victoria leaving university to work in a mother's practice. We look at how Victoria is generating clients as young as 10 days old. And we look at her insane approach to life protection, how she's become a top 0.01% advisor at St. James's place for protection advice. This is a phenomenal story. It's a phenomenal journey of a mother and daughter duo in financial planning. You will not want to miss this one. Adele, Victoria, thank you so much for joining me today on the Financial Planner Life Podcast. How are you both?

SPEAKER_03 1:14

Yeah, really, really, really great. It's really excited to be here as well.

SPEAKER_04 1:18

Good. Well, I'm excited because we had a fantastic pre-podcast chat, and everyone knows on the Financial Planner Life podcast how much I love my pre-podcast chats. Because I get to see a different side to people before the cameras and the lights are on, and everyone feels a little bit under pressure. But um it was such a great conversation, as we were just saying before the cameras turned on. I was energized after speaking to you. In fact, straight away I jumped on the telephone, phoned up uh Legal in General, and got you on the Legal in General podcast just covered.

SPEAKER_03 1:42

Which I am so excited for, by the way. Which is just it's so nice to be able to bounce off of people that have that same energy as each other.

SPEAKER_04 1:49

Yeah, exactly that. And it just got us into a conversation, didn't it? It's all about showing up. When you show up, what impression are you actually making on somebody? Yeah. I think that's super important, especially as a financial planner. And we're going to talk about that. And we're going to talk about your success you've had in your St. James's Place partner practice as well. Um, and both individually, the success you've had as a family as well, because it's mother and daughter we've got here today. Get this right. Yesterday I was at New Leaf, and at New Leaf, you've got Mark Hobbs and Daniel Hobbs, father and son. And they run New Leaf Network.

SPEAKER_02 2:18

So there we go.

SPEAKER_04 2:19

It's a family affair this week on the Financial Planner Life. Right, excellent stuff. So, two generations, one financial planning business. Adele, let's start with you first of

From Corporate Sales To Planner

SPEAKER_04 2:27

all. Um, tell us a little bit about your background prior to becoming a financial planner here at St. James's Place.

SPEAKER_01 2:34

Okay, sure. I worked mainly in corporate, so I'm uh I'm from Dublin, old as the seven, came across uh on the ferry and uh got my first job actually in Swiss Bank years ago, and then um always wanted to sort of you know excel in business. And I met bump into some people that worked for Xerox Corporation and I was very impressed by them. They really energized me. And um, long story short, that's where I ended up having most of my career in various different corporate director roles, running various um uh teams around the world, and basically uh throughout my career with Xerox and also with HP, I the one thing that was lacking was that I wanted to run my own business. Okay, and I was very fortunate to um meet my husband, like my second husband, um, and he was sitting having a review with his uh financial advisor who was from St. James's Place, and he said, you know, you've fed up with the travelling, you've got a lot of people you've helped in your career. Why don't you consider financial planning? You've been really good at it. And I said, But I don't really know the technical stuff. I know I've worked in a financial environment, but um, I've not done that job. And he said, Oh, come to St. James's Place, we've got a brilliant academy, and we'll build all the technical things around what you've got. They said, What you've got, we can't teach you. You know, you've naturally got an empathy with people, you've got people who trust you. So he set up a meeting the next day, and that was it. The selection process started and loved it. I just wish I'd met him when I was in my twenties. Oh, we do it.

SPEAKER_04 4:00

Well, this is the thing where so many people get into financial planning through the St. James's Place from actually talking to a St. James's Place financial advisor. So it's really interesting to hear that. So, in that corporate world, what was your discipline? What was your specialism? Was it marketing, sales, leadership? What were you doing?

SPEAKER_01 4:17

So I was sales. So uh one of my roles I did, I was sales director of Xerox Ireland. I ran uh various sales um organizations throughout the world, uh, one of which was um global translation. Uh but it was always with teaching people to understand people's needs and how to deliver a solution that would meet those needs and how to articulate that. So I guess it was really good training for this job, really, because you're all about, you know, we constantly say, don't we? We just want to find out what do people want to achieve. And it's so exciting to be able to get them to do that.

SPEAKER_04 4:50

So naturally just inquisitive. That's what sales teaches you, doesn't it? Yeah, it teaches you to ask really good open questions. Yes. To really find out about people.

SPEAKER_02 4:57

Yeah.

SPEAKER_04 4:58

What do they like about stuff? What do they dislike about stuff, and what do they find challenging? And then it's adapting, isn't it, and building a solution to the problem that they might have. How can we enhance their lives? Fantastic. I love that. And salespeople make great financial advisors because you have to sell yourself. Yes. And two things is definitely something you two ladies do incredibly well. So great. So that was your transition. You went through the St. James's Place Academy.

SPEAKER_01 5:19

I did.

SPEAKER_04 5:20

Okay, so how long were you in the SJP Academy for?

SPEAKER_01 5:22

So I was in it for six months, and it was the first academy that was um on Zoom because COVID had just happened. So we were six months, eight o'clock in the morning till five o'clock in the evening, while doing exams as well. So had a slight advantage in that COVID had slowed everything down while they set up an online academy. So I got a lot of my exams done. So it meant when I got into the academy, I had some spare time to be able to carry on and do my chartered and my fellowship, and also to meet with clients just to sort of start having coffees and just saying, you know, what do you what do you think a financial advisor is? And just to sort of start engaging with people and seeing maybe where they did need help. So when I came out on the six months, I was able to shoot out of the gates.

SPEAKER_04 6:03

Love it. You said to me, You wish someone spoke to you when you were in your twenties. So this stage of your career, the stage of life at the financial, sorry, the the St. James's Place Academy came along. Where were you though in yourself and how were you feeling within your career? Were you feeling flat? Were you feeling a bit like, oh my god, I'm coming.

SPEAKER_00 6:21

I was feeling really old. Actually, I forgot to mention the one thing I did say to him was, but I'm old, I'm nearly on the scrapy.

SPEAKER_01 6:29

But I to be honest, my brain had sort of switched down. I I sort of really knew what I was doing, so I didn't have to work really hard at it. And I just wasn't challenged in any way. I was doing thousands of crosswords all week, and I didn't realize I was sort of craving for something. And the difference is it feels like my brain has just gone. It it's the exams were really hard and really challenging, but in a way that I'd never worked my brain before. And it just made me, I feel like I'm done with the kids now. Like I really feel like I'm I'm younger, I feel more energized, I feel I really want to reel back that time, but also I don't want to retire. The oldest advisor I think is in SJP is someone at 85, so gotta beat him because I just love the job. You're helping people, and it just it really re-energized. And um, one of the things that the um the chap said to me that was, you know, I'll never forget you know, the difference he made to our whole family, really. He said, your age, you are actually below the average age in our industry, so you'll be the youngster. And he said, It's not about we actually we rejoice in somebody who's already had a career because you know, because I was telling him that, you know, throughout my time, you know, and I'd done well at work, all I was investing in was premium bombs and property. I didn't know anything else. And now when I came into the job, I suddenly went, okay, right, this is what I should have been doing. So I sold all the property and and changed to what my investments were, but it just gave me that, you know, you've probably seen a big difference in me as well, Victoria. You know, just how I was and how I dressed and how I changed it, I just changed my whole outlook.

SPEAKER_04 8:01

Having your daughter here is actually a great opportunity to see how much you have changed.

SPEAKER_03 8:10

Tell me that.

SPEAKER_04 8:11

How has she changed then?

SPEAKER_03 8:12

Do you know what it has been tenfold? I think with your previous career, because you were so established, because you were it was so comfortable and you just kind of stagnated. You know, you'd been in it for 30 years or so, you know, so it just became really comfortable. Whereas all of a sudden, it was like this um flame was lit within side of her where every day she was getting up and she was learning something new. And um, we we used to kind of say as siblings to each other, you know, you kind of you were amazing at at printers. That's what you did. Printers, if we ever had a printer question, you know, you you were you were our woman, but watching you even before she came out of the academy, just learning the exams, you know, you would come up to me every day going, did you know this about ISIS? Well, did you know what what what this taxation meant? And it just seeing this excitement and being able to be your daughter, but also work alongside you. I get to see this kind of unfold. And because we work together, we do a lot of um kind of we talk about client journeys together so that we can make sure we're giving a client the right advice. We kind of, you know, talk through it and seeing this roadmap in your head of where the clients are gonna get to. Honestly, I've just I don't even think you sleep anymore, actually. I'm gonna be honest, I don't know when she fits that in. Um, so it's just it's been really nice to see.

SPEAKER_04 9:29

Great. So super interesting career. It feels like you've opened the door to something else that you felt that you needed both personally in your own financial plans, but also offering you a fulfilling career in helping others.

SPEAKER_02 9:43

Yeah.

SPEAKER_04 9:44

One of the things your daughters definitely explained there is the in the enthusiasm that you have for what you are learning. So much so, you're an enthusiastic person, I don't know.

SPEAKER_02 9:53

But so much so that's I followed that's gone across to Victoria.

SPEAKER_04 9:58

So Victoria's working in the partner practice, and we'll get onto that in a minute when you're setting up the partner practice and all of that. But together you're working together, right? Yes. So Victoria, over to you. How did

Victoria’s Fast Track Into Advice

SPEAKER_04 10:09

you get into the financial planning profession?

SPEAKER_03 10:10

So, truthfully, Sam, I came out of like school, senior school, during COVID, and it was I had no direction, I had no idea what I wanted to do. I went to university to study business management, and whilst at university, I just did not feel challenged. You know, you kind of go from that, you know, eight to five learning at school, and then all of a sudden I had eight hours of lectures a week and I was not tested in the slightest. So I picked up a part-time job. And really luckily, obviously mum was going through the you'd just come out of the academy at that point. And so I started working as a professional support specialist or a PSS, um, kind of within you, and and as part of that, I almost I got to see all of the client journeys and everything. And I absolutely loved it. I loved every bit of it. I mean, I had the benefit of learning the back office, which really helped when I came out the other end, but being able to kind of watch the impact that you were having on these clients, I just I wanted that, and as as we kind of had a conversation about earlier, it's infectious. That energy, that just being able to help people, it just is so contagious, and so I was like, that's what I want to do. And it helped kind of lead me through it.

SPEAKER_04 11:24

I love it, yeah, absolutely. Seeing somebody do it, obviously you guys live together and working together makes it all that more real, doesn't it? Which is good. Okay, great. Let's get on to qualifications a second. Sure. So you your qualification route, level four first. Yeah.

SPEAKER_01 11:41

Yeah.

SPEAKER_04 11:42

And you're now chartered?

SPEAKER_01 11:44

Chartered and a fellow.

SPEAKER_04 11:45

And a fellow, yes. Right. Let's just talk about that because you didn't need to do that to become a financial planner. Why did you do that and what value did it add?

SPEAKER_01 11:53

Right. So to be honest, coming into a new industry, I've always been, you know, the go-to person, knowing everything that I needed to know and helping others. All of a sudden I have this massive imposter syndrome. And I was like, hold on a second, I am helping people with their wealth. Okay, it's not their health, but it's their wealth, which leads on to their mental health, and it's a big responsibility. So I want to know everything. And I knew I didn't need to go on and do the the further exams. But what it gave to me was a huge, much more understanding and a way of helping people. It's it's a huge difference between the diploma level and the chartered level. The fellowship is is is a nice to have extra, but those chartered exams go into so many more case studies, so many more what-if scenarios, thinking about the exit strategy of your money. And I wanted to be the best. And I love my biggest thing I love saying is I've been the top percentage and in qualified, and that genuinely means something in this role. It's not just oh, I've got another degree or whatever. It is very, very important because it makes you so much better. And then, you know, I know Victoria's on her charter journey, quite quite far into it. Um, and they're tough, aren't they? The exams are tough.

SPEAKER_03 13:03

They are, and and truthfully, even from a PSS and your daughter, I mean, I was your first client, from that point of view, even I have seen such a step up in terms of the level of detail you can go into with clients, and I can really, I personally really see the value in it.

SPEAKER_01 13:18

Yeah, so I think it's definitely something that everybody should, you know, try and focus on, even just doing some of the chartered exams, because you don't necessarily need to be an expert on everything. I was in a bit of a hurry, Sam, because I haven't got as much time as this one out. So I keep saying to her, take it easy, because I can help you with everything in any way. But having that in the practice is really important. And as I said, you know, I was 53 when I started this journey, you know, so I wanted to get to the top very, very quickly in my qualifications, and it's genuinely had a really good impact on the on the practice.

SPEAKER_04 13:51

I love that. Perfect. And thanks for sharing how old you were when you got into it. It's not something I always want to ask me in a yeah. We're not allowed, I'm quite blown away, to be honest with you. But you know, it's good to hear that you changing career at that stage of your life where a lot of people think I can't do it. You know, and it's really, really important. The average age is I think now 57 years old in financial planning. That's not to say that that's a bad thing, either. No, you know, I know financial planners are in their 70s, like you said, the oldest SJP is how old?

SPEAKER_01 14:20

I I believe in the S80s.

SPEAKER_04 14:21

I believe it's it's a type of job that you can do throughout your whole life because the people that you're going on the journey with are living their lives as well. So you're going along with them every step of the way, right? So I love the way that you can reinvent yourself in a new career at the age of 53 and that financial planning opens that door. And we need to not get so fixated on age that we need young people in. Yes, we need new young people in, but we need people from all walks of life in. Yes. And all ages in the in the in the profession. Yeah, most definitely. And I suppose we need the next generation because there's so many people exiting. So it's the exiting advisors, and how are we going to continue to look after those clients? And the gap is what everyone worries about. You know, is AI gonna fix it or not? We're always gonna need the human, you know, in the relationship, but without a shadow of a doubt, because AI is too perfect. We want the imperfect, authentic, strong relationships that only humans can actually bring to the table. So you're on your way to charters. Yes. How old are you?

SPEAKER_03 15:15

How how what was that? How old are you? I'm 24.

SPEAKER_04 15:18

I was allowed to ask that, okay.

SPEAKER_03 15:20

Yes.

SPEAKER_04 15:21

You gave me the go-ahead.

SPEAKER_03 15:22

Yeah.

SPEAKER_04 15:22

So 24 years old.

SPEAKER_03 15:24

Yeah.

SPEAKER_04 15:24

Nearly charters?

SPEAKER_03 15:25

Nearly charters. I've got one exam left.

SPEAKER_04 15:27

Fantastic.

SPEAKER_03 15:28

Great. And then luckily, because I've been in the profession, I've been in the financial industry now for five years, I'd say. Um that's how long you have to be kind of in the financial industry to get your fellowship. Obviously, with a few more exams. Yeah, and you're chartered.

SPEAKER_04 15:42

And you go in the fellowship?

SPEAKER_03 15:44

Of course.

SPEAKER_04 15:44

Yeah, love it.

SPEAKER_03 15:45

Yeah, we have a really kind of we just like to think you constantly keep learning. There's no reason to stop learning. So luckily, uh hopefully touch wood. I've got a long career ahead of me. I've got plenty of time to get fellowed.

SPEAKER_04 15:57

Oh, sorry for interrupting the Financial Planner Life podcast. I hope you're enjoying it. Now, if you think that you would like to be a guest on the podcast, because you have a product, a service, or a business that you would like to promote, maybe you want to attract some new talent to your business, there is a link in the comments where you can actually apply to come on the Financial Planner Life podcast. You get that full end-to-end experience that you're so used to from the Financial Planner Life Studios. And if you feel like you've got a podcast that you'd like to start, or maybe a video project, again, click the link in the comments section and book a meeting, and let's discuss that project and get it going in 2026. Now, back to the show. Love it. So started in a um PSS role. Yes. Uh, which is like an administrator support type position. Yeah. Yeah, where you cut your teeth within that. Watching mum, listening to mum. Did you get involved in any client conversations? Were you in the meetings, uh, watching any kind of videos or anything along those lines of client interaction? How did you kind of pick up on the experience of sitting in front of a client and what a financial planner does?

SPEAKER_03 16:53

Yeah, so I obviously when I started off as a PSS, I was very back office, um, which was great getting at the hang of that. But as it kind of progressed, one thing that we did find was I loved talking to clients. So my role kind of changed to being a lot more client-facing, you know, booking client meetings, following up with clients, none of the advice, of course, but actually just being involved with them. Then I did have the very beneficial opportunity to just be able to sit and listen. And you know, most clients were really lovely about it. They're you know, they're more than happy to have someone there. Um, so I had a perfect mentor. Yes. So I did what did you call me? Uh your bag carrier. That's what it was. Yes, we always think that people should start off being a bag carrier. Yeah, you know, literally following you around, taking the notes, following up on the notes from the meeting. It's a great help to you, but it was so invaluable to me.

SPEAKER_01 17:45

Do you remember the light bulb moment at all when we went into London to that solicitor's um practice and we had the 10 meetings that day?

SPEAKER_03 17:52

I really do. We sat in this meeting, and what we like to do is we like to do a lot of corporate work. So that means the corporation will invite how whoever wants to come along to come along. And I remember we sat there and I was it was before my my journey through the academy, and I was just taking notes, and I remember a lady had come in and she'd recently been through a divorce, and she was really stressed, really worried. And I just remember I got to sit there and just watch her just slowly just relax. It was the most inspirational thing. Just being able to see immediately, I could see that roadmap that you would you were visualizing out to the client. I could see immediately you knew what to do to help this client, and you could see the client trust absolutely immediately.

SPEAKER_04 18:34

Life experience does that. You mentioned second husband.

Divorce Experience Builds Client Trust

SPEAKER_04 18:38

Yes, has that journey personally without you say as much as you want to say on this podcast, but I think it's part of the journey of life, right? One in two marriages do break down.

SPEAKER_01 18:47

Yeah.

SPEAKER_04 18:48

Your experience of going through a divorce and being able to sit with people that perhaps are thinking about it or on that journey. How did that help you?

SPEAKER_01 18:58

I think it's been hugely, hugely beneficial because I know, sorry, you know, it's a lonely, lonely thing when you get divorced. It's really it's that going in to sign those documents that you signed on the happiest day of your life, but they look very similar and you're doing the whole process. And what happens is it's quite nice because people are great, they'll come out and go, I'll help you. And and I had strangers being introduced to me going, because I was one I was one of the first in my group to get divorced. And somebody said to me one day, Look, this guy's been through it. Would you mind if I introduce you? He'll talk you just through because you don't even know what the system is. But what I didn't have at the time was I didn't have anybody to give me financial advice. And you know, the friends that were helping me were like, Well, you go see this solicitor, this, the decree, nice I. But what I really needed as well was that person to just go, like, how do you divide your assets? What does a pension mean? What does that pension mean? I don't know what that means for my future. So to me, it's so lovely. I'm almost jumping through the, you know, if I monsoom to say, I can help you, I know I can help you. I can explain to you the process, I can help you see the pitfalls of some of the decisions you're making. So, yeah, sadly, I had that experience, but it has really made me a great advisor for people who are going through that, both men and women, because I I get the emotions as well.

SPEAKER_04 20:15

At what point should somebody reach out to a financial planner when it comes to a divorce?

SPEAKER_01 20:24

The best people that I can help is the ones that are planning it for three years' time.

SPEAKER_02 20:27

Yeah.

SPEAKER_01 20:28

Literally. And we have people that because couples are not, you know, they know when uh, you know, a relationship is maybe flagging and they've tried everything. And sometimes actually it's been quite ironic because I've had one couple who the lady came to me and I started helping her, and just having the clear mind that she was going to be okay actually made her work a little bit more, and they ended up staying together. So we do have that situation because people are a bit frightened. So the earlier the better that people can come and sort of almost say, Look, kids are finishing union, we've decided we're separating then. You can start to do some planning. Um, obviously, we sometimes get from lawyers, we get pulled into the process as they start that, which is is is great. But so long as they come as early as possible. Yeah. But if somebody comes out of a divorce and they're like sitting going, I don't know what to do now, we can help them. We can help them through the process. And I think the power we've got is the cash flow planning we do with people because people sometimes don't realize what they've got. But even just the just the clarity of knowing whether you've got enough or you haven't, that's actually really good for your mental health as well. Yeah because you know, and I think a lot, especially with especially with all the women that come to me, they're like, Oh, I'm you know, I'm early 50s, I'm never, I'm like, ah, you know, I got married again when I was like 53, 54, 53. And, you know, it gives them that inspiration to know I'm going to be okay financially, or if I'm not, let's do a plan and let's start planning it as early as possible.

SPEAKER_04 21:56

And do you find that by being present in those conversations that it's giving You the confidence to have a conversation with somebody that's perhaps considering um divorce?

SPEAKER_03 22:05

Yeah, definitely. It really, really is because I think you know it is something that's so personal, and we often get asked what's the biggest benefit about being a family business. And I think because we work together as mother and daughter, it kind of brings everyone else into the family as well. There's just that certain level of care. And obviously, you know, I am a child of divorce, you know, I know what they're going through from the kids' perspective. Because a lot of the time you can obviously comment on what it's like for the parents, but it's also, you know, parents are gonna think what's gonna happen to my kids' savings and and things like that. And so there's different point of views that we can give on it. And I think building that trust and relationship, clients do start to feel really comfortable with us because they know that we do actually care as much as as much as we care about, you know, each other. Yeah, um, so I think it really, really is. I had a lovely comment.

SPEAKER_01 22:55

Actually, I haven't told you this. So I had a lovely comment from somebody who um I've I'd met with and I said, Look, why don't you have a chat with Victoria as well? I was going away and I said, I know you need this urgently. So um have a chat and she can help you, she can help your children. And the lady came back and she said to me, I was so sorry I forgot to tell you this. She said, Do you know what's really inspirational? She said, I don't know if you were worried about this, but because I've just been left and I'm in this marriage, I'm on my own, I'm really scared about my children and how they're gonna grow up. Like, am I gonna be a good enough parent? And she said, seeing that you've done that and to see your daughter then come on and go, Great, this is what you need to do, and so confident, she said, it's given, it's made me feel really good about, you know, because I was worried my kids were coming from a broken home or whatever. They could see the end product.

SPEAKER_04 23:40

Which is why identification is so so powerful and lived experience is so powerful, and that authentic storytelling is so powerful. There are so many things that you both have gone through in your life, and when you share those stories publicly and open, it creates that level of social proof where people feel confident to be able to open up to you both. And I think that's so so important. And you know, when you're rocking up and you're kind of I'm a financial advisor and this is me and that's it, and I know things that you don't know. Like, where's the connection? Yes, you know, connection comes through real life experiences of pain and suffering, you know. And when you're able to articulate exactly how you did that, but you got over it and you survived and you thrived. That's when people go, Oh my god, I want to work with these people. It's authentic storytelling that works. I love it.

Getting Through The SJP Academy

SPEAKER_04 24:20

So I just want to go back to the academy because I know that the academy is not an easy thing to get even um in, really. There is a huge amount of screening that goes on to just make sure that people are making the right decision that this is the career for them. Yeah. Um, tell me about your experience then. How many uh interviews? How many? What did you have to do?

SPEAKER_01 24:37

Well, I had eight. I had eight level levels, and I was uh to be honest, I was petrified throughout it because I wanted it so badly once I saw, and it it wasn't about wanting it for me. What was most exciting was wanting it for my children and being able to give them the opportunity if this was something that I was building as a family business, and um yeah, but I had a an amazing lady um called Gemma who now has just come out of the academy and become an advisor in our business, and she was in the recruitment team and she was fantastic. They were all fantastic, I have to say, but she was the one that guided me through nearly every but every point, and um she was she was just amazing, and I always remember she cried when when I got I've cried, I cried the day you got in as well. So I mean you've had the same journeys also.

SPEAKER_03 25:21

Yeah, so it was quite a few interviews. I think I maybe had six perhaps, like interviews. Um, and it there's a lot of work that goes into it. You have to do business plans, you have to do, you have to go around and kind of find out who your network are, and you know, actually double check you're gonna have meetings when you come out. It's quite quite stressful, so it's not it's not an easy feat.

SPEAKER_01 25:39

Yeah, but I did, I have to say, like as a mum, I'm extremely proud, you know. And the day that Victoria got offered, I was I was part of the selection process because she was coming in to work in the business. But of course, I wasn't the decision maker as St. James's place had to say, this girl's gonna be a great advisor. And um they said and they said, Well, we're gonna give you the answer. Oh, literally, my stomach was like turning, and they said, We congratulate you. And I started crying, I started blubbing. Sorry, I'm not ashamed to say these celebrations in the household, yeah, yeah, yeah. Because you know, these the the the the selection team are really qualified and they really know their stuff, you know, they really do. They will pick up, you do all these psychological testing as well, they pick up on your strengths and your weaknesses, and um, you know, they're there to advise me whether, you know, at the end of the day, I don't want my daughter going into something that she's not gonna be brilliant at. Yeah, so I wanted a genuine um, you know, answer, not just me pushing it. So you did it, girl.

SPEAKER_04 26:35

So, what's really important, I want people to understand here as well, who's who who are listening, and this is the thing that I'm picking up at the St. James's Place Academy, that isn't like they're trying to hoover up people out there and just put them through the academy. It costs a lot of money to put somebody through an academy. SJP invests a huge amount of money, I know that, in each individual that goes through, right? So it's so important that they find the right person and that you stay and that you enjoy yourself because it's your life at the end of the day, and you want to make sure you're making the right life decision. So that's really, really positive to hear. And when you were in the academy and you were going through the terms, what were some of the things that you learned along the way, or uh exercises, or um any of the terms that really stood out for you in your learning?

SPEAKER_03 27:16

Well, it's definitely changed a lot over the time because you came out in 2021. Yeah. And and yours was six months, nine to five on Zoom. Mine when I did it, I did my first three months. I wasn't yet level four qualified. So they do the first three months was to get to that point. I actually did it in one month, um, just because I was a bit impatient and just wanted to get the exams done. Um, and then the second term when I did it was another three months, which I believe it's nine weeks now. Yeah. And what it basically says is it says, Great, you've done, you've learned about the UK financial system. How do we apply that to St. James's place? And they're great at kind of talking you through the biggest thing is how to keep yourself safe. Because obviously, in this industry, you're dealing with people's finances. So, how do you keep them safe? And how do you keep yourself safe? And I think they're probably the biggest takeaways.

SPEAKER_01 28:05

They are, and and I think the other takeaway for me was I I had done a lot of my exams like like yourself was the St. James's Place exams. They're so much harder. They are really they are hard, aren't they? They are, and they're there was a lot. Felt like it was it felt like about 50 exams. I mean, it was a lot, and I didn't realise because I I could done most of my exams and went, whack, hold on. But they they're important because they do go into a lot more of the the stuff you really do use on day-to-day.

SPEAKER_04 28:36

Good. Excellent to hear. Great. So you didn't go into it slightly. Um, you know, you you were put through the ringer, and you've come out the other side. It was worth it being put through it, do you think? Yes, definitely.

SPEAKER_03 28:48

I mean, there's a reason I think why it's called, you know, one of the strongest academies in the UK. Yeah. Is yeah, put us through the ringer, but now I can go into a client meeting with confidence that I know what I'm doing and I'm doing the right thing for the client and I'm keeping everyone safe in the process.

SPEAKER_01 29:03

Yeah, definitely. And they're just they're really caring but very firm in in the academy. So it's like we're here to nurture you, but this is what you have to do. As you say, the safety element is really, really important. You're dealing with people's money.

SPEAKER_02 29:15

Yeah.

SPEAKER_01 29:16

And so, but they always felt like there was someone there to sort of say, Well, this is what you need to do better, and you know, so you had checklists and you just could feel the progression throughout the weeks was actually quite like, oh my god, I can't believe I knew so little back two months ago. And but they're just so patient and they're so they they've got it down to a T. They know what they're doing, so which is why they've got it shorter and shorter now, because there was a lot that maybe they could just do a little bit quicker, and it was lovely they took that feedback from us because we said, Look, it's too much. There are things on here that we don't need to know in our job, uh, but focus a little bit more on XYZ. And I love the way they take that feedback because your experience is was different to even Gemas. Gemma's come through in nine months and nine weeks and um would still come out with the same knowledge. Wow.

SPEAKER_04 30:04

So from six months to nine weeks.

SPEAKER_01 30:06

Yes, yeah, yeah. But I guess because you have to do the exams beforehand. So, and there was there was a lot of leisure, not leisure time, but there was a lot of time given to people doing the exams. And I was gonna go, I want to get this through, you know.

SPEAKER_04 30:18

I think personally it's important that you do take some of the qualifications before you enter any kind of structured learning environment because it shows commitment.

SPEAKER_02 30:25

Yeah.

SPEAKER_04 30:25

Um and a willingness to want to get on on your own off your own back. And I think I don't think if you can't, if you can't pass a couple of exams on your own at h home, then you need to really consider reconsider whether or not it's the right route for you.

SPEAKER_01 30:36

Oh exactly. It weeds out. It weeds out just whether you you can be bothered to do them or whether you're you've got an aptitude for it.

SPEAKER_04 30:42

Or if you need some help. Yes, yes, and then you can go find that help. So the person that needs that help and support, this and you know, St. James's Place work with my sponsor, Redmil, Redmill. Oh, yes, my sponsors. They're a fantastic training company. Yes, and obviously they do train through the St. James's Place Academy. So and they work with lots of different people, lots of different learning styles, neurodiverse backgrounds. We have a guy with ADHD, dyslexia, dyspraxia, all those types of things, and they're supporting that person to become a financial planner, as is the SJP Academy. Yeah. So it's good to hear that they've got that level of support for people who think maybe they don't have the academic background or learning styles that constitute being a good financial planner. In fact, no, the door's open. If you've got a willingness to do it, yeah, put yourself in there, there is support in place to get that, get that through.

SPEAKER_01 31:24

Redmill come in just towards the back end of my journey, and I was like, why didn't I find you before? Redmill, where are you on my life? Because they do the videos are brilliant, really, really good way to learn.

SPEAKER_04 31:36

Perfect. You know, I'm loving working with David and the team. So there's lots of content coming out on the financial panel life as well. And we did some great videos with SJP with the Red More team as well. Grandson, listen, qualifications, oh, brilliant, well done. You know, SJP Academy, great, but that's not going to make you money, right?

Winning Clients With Real Activity

SPEAKER_04 31:50

That's not going to build you a great successful business. So tell me a little bit about the realities of being a financial panel, post-qualifications, and obviously winning clients and building a successful business. Dell, you went through it first.

SPEAKER_01 32:03

Yeah.

SPEAKER_04 32:04

So tell us a little bit about year one then. What did you do? What worked?

SPEAKER_01 32:07

So uh the first day you came out, it felt like falling off a bit of a ledge. I mean, what was fortunate because I did have some extra time, I had built up quite a lot of people who we just have what's called the like the coffee chat, and I'd had another advisor there who'd already got their qualification. So I was that was great because it's a bit like a spider's web. If you can build that first level, they all love it, and all of a sudden they'll tell friends, and I feel that that web just keeps growing and growing. Yeah. So, but of course, the day I got out, I wanted to join all these network groups, and I just kept getting no. We have our financial advisor, we have our oh my goodness, I thought that was the only way. But I actually um started at my own network. I just put a note out on social media and said, Look, I'm starting a new business. I want to join up with other um, you know, other people who are maybe in the same situation. Why don't we meet down the pub on Thursday night? And 28 companies turned up, so it was great. So, but it's all about activity, talking to as many people. My kids used to really, you know, tease me because they go, no matter who comes in the house, they have to leave on a pension. The plumber. Oh, I've got loads of things breaking in my house. I better get some people in because I just loved talking to people, you know. I always now choose the middle seat on a plane because you've got two people you can talk to about pensions. And so it's activity, activity, talking to people um and putting the hard work. I mean, you know, I was working evenings, weekends, really, to build that business. So um, yeah, it's a bit daunting because you're self-employed as well. And but um, you know, it's it's it's worked.

SPEAKER_04 33:36

So I also love the fact that, you know, the whole I'm into the whole laws of attraction. If you put it out there, you're gonna get something back, right? And if you speak to as many people as you possibly can about what it is you do and the solutions that you have, yeah. The message, as we spoke about at the beginning, is infectious. Yeah. If you can deliver that with confidence, enthusiasm, and inspire people, then the message is only gonna go far and wide. Word of mouth is the most powerful direct marketing tool you ever had. You know that within working in sales, right? You know that from observing it and doing what you're doing now. People talk about great things as much as they talk about things that are terrible, right? So it's very, very important, I think, with anybody, with any businesses you can't just sit on your hands. Don't think that, oh, I'll do it through social media and I'll hide behind my keyboard and computer.

SPEAKER_02 34:17

Yeah.

SPEAKER_04 34:17

I think the most effective way is to pick up that telephone to uh reach out to people. If you can't get into a networking event, build your own. Yeah, build your own podcast, whatever it actually is, build something for yourself.

SPEAKER_01 34:29

Yes.

SPEAKER_04 34:30

Um, if you build it, they will come. Kevin Cost. Kevin Costner said that.

SPEAKER_01 34:35

I haven't exactly filmed and I never quite got, you know, it's funny, I I quote that a lot to people because at the time I was like, it's built a big field, and yeah, but actually, if you get that, and that has happened, and you know, something that Victoria's particularly very keen and does a lot of is education and saying, I don't care how much money you have, I don't care. I if somebody wants to hear about financial planning, we're gonna educate you because that just leads on to you never know, they they might become, you know, amazing sort of you know earner in the future, but it doesn't really matter because if we're passing that financial education message out, it just is infectious. You know, young youngsters will tell their parents, will tell their grandparents, will tell their friends. So it does it does really work just just you know being focused on education.

SPEAKER_04 35:22

Let's go into the you you obviously felt like maybe you were too old to come into the profession, right? Yeah, you did. You're on the other end of the scale where maybe you might thought you were too young to be a financial planner.

SPEAKER_03 35:32

Yeah, I mean you were talking earlier about imposter syndrome. At 23, coming into the academy, I think I felt that tenfold. You know, especially because even on my academy, I was the youngest, um, there was a couple others around a similar age, but then there was a huge gap up to people a similar age to you. And I remember, I think even my my dad said at one point, Well, imagine a 23-year-old coming in telling me what to do with my finances. Uh, do they even have any finances themselves? And so you have that imposter syndrome in yourself, but truthfully, I've just never actually seen, you know, a wall for it. I've never seen a time when I've felt, you know, I am a bit underqualified for this. Because as soon as I came out of the academy, I knew what I was doing and I knew that I was doing the right thing for clients. And no client have has actually questioned it.

SPEAKER_01 36:24

No, well, because you, as you you say, you're coming out, we're all trained the same, and you've, you know, you've I think you've actually got a bit of an advantage because when you are, first of all, you're talking to a lot of people who either are young themselves or are parents of young people. So they get that you are going to be around for a long, long-term relationship. I'll be around for a long-term relationship, but I can never be around as long as you. So, you know, being able to, and also you've been very savvy yourself as well. You have been a doubter in the early days when I was, you were my first client, and Victoria, I hope you don't mind be saying, was earning a thousand pounds a month, and I made her put £850 a month. And she was, every month, you're robbing my money, you know, I just gone. Look at my account, I'm so poor. And then when you finished university and um, you know, you came out and you had a big wad of money, which some of which you'd put in yourself, which was good discipline to get into, but some of which St. James's Place had piled on top. And she was like, Well, I'm gonna go traveling and I'm only gonna use the extra that came in. And so you really do believe in that.

SPEAKER_03 37:26

Yeah, and I got to see really firsthand the impact of compound growth. And I just remember kicking myself and going, why do schools not teach this? And it just made me go, do you know what? It doesn't matter when anyone's starting, just start. Start from today. And I think one thing as well that really helps with the kind of age discussion is um a bit like we mentioned earlier, you know, age is just a number, whether you're 24, whether you're not gonna comment on your age now, um, but whatever age it is, you know, it what I always sit it firsthand with a client and I say, look, I'm gonna be here through every single experience in your life. And a bit like how you mentioned AI earlier. You know, AI might come along, and if you've got one question for it now. However, AI is never gonna be able to evaluate that journey that your family has been on. It's never gonna be able to see those relationships. And I actually absolutely love that, you know, I my youngest client is three weeks old. Oh, actually, I'm actually from tomorrow. My youngest client is one week old. Yeah. Um, you know, and I'm gonna be able to see that family grow. And truth, you know, as long as you come in with that confidence, you know what you're talking about, and you can give clients that, they really see the value in it.

SPEAKER_04 38:37

Intergenerational wealth transfer is

Investing For Children And Families

SPEAKER_04 38:39

massive. Trillions are gonna be changing hands over the next 10, 15, 20 years. Intergenerational financial planning businesses, I think, are brilliant because it positions you so well. On the subject of a one-week old being your youngest client, for those that don't understand how that can happen, explain why that is a client of yours.

SPEAKER_03 39:01

So the way that it works is when their parents want to make an investment for them. And what we do is we, as Adele mentioned briefly earlier, we do a lot of cash flow planning. So we look to say, look, even if you start putting a small amount away now and you stop when they're 18, and even if the child decides to never invest in it, we look at what that compound growth might look like for that child when they come to buy a house at 30, or even if they want to say for retirement, whenever it is, the compound growth and the impact that can have on the child is absolutely extraordinary. So we tend to say to clients, you know, sometimes, you know, grandparents, they come in, what can they, what can they buy, you know, and you never know, especially if they're a baby, like there's only so many toys a baby needs, really. But what can they do? They can invest that money now because even if that pot stays there, what that's gonna do for that child when they're older is immense. And one thing that we also find really helpful and that parents really like is when I say, You're gonna make this investment for your child now. When they're 18, it's theirs. However, when they're 17, I meet with them and tell them what they should be doing with it. You know, and having that confidence that, you know, that child is going to understand what their parents have been doing for them and how they can keep making that even better. You know, parents, you know, they really see the value in it.

SPEAKER_01 40:18

They do. I mean, we have your client that you're about to take is is a baby of a client. We've known we've we've been planning this for like three months, haven't we? Because there's a lot of opportunity to do inheritance sex planning, you know, setting up trusts. And as Victoria said, you know, how many toys do you need? So we say now, if anybody says, what would you like for the baby? Money for their pension, money for their GISA, or money to put into a trust, because they're the planning we can start very early on to transfer that wealth without, you know, we all have to pay our taxes, but you don't need to be leaving tips. If you don't plan it, you're gonna pay tax in your lifetime and you're gonna pay tax in your death. So being able to do that planning right the way early on is very, very powerful.

SPEAKER_04 41:00

We you're saying like people need to be taught in schools. Okay. But you're evidencing that you can get a one week old investing. Granted, you're not sitting there and holding an arm with a pen and getting your son. It's the parents, right?

SPEAKER_03 41:16

It is.

SPEAKER_04 41:16

So there's a this is me and my entrepreneurial brain. Now you just have to put up with me. But imagine like just targeting niches of high-end nurseries.

SPEAKER_01 41:26

Yes, good idea.

SPEAKER_03 41:27

You know, it would be it would be a great opportunity. I mean, that was one thing that I guess perhaps I felt a little bit behind on. Is I remember talking with my my cohort on the academy about where who who's your going to be your network? And I remember this lady, she was saying, I just don't know. I don't know what my network is. And I said, You've got kids. Have you ever been to the playground dropping your kids off? Do you know how many other parents there are?

SPEAKER_04 41:49

And mums as well. Yeah, as well. All the mums.

SPEAKER_03 41:51

And once and the great thing is, mums, they form a unit. I remember, you know, you have your your mums that, you know, we're all still family friends and things. And once you start, you know, they trust you and it becomes word of mouth and it spreads around. And, you know, kids are a great networking opportunity.

SPEAKER_01 42:08

They really are. I mean, that's where Gemma who's coming into the practice. She sits in between the two of us and she's got a little Eddie, and she is literally, she's so enthusiastic to tell all her friends what they could be doing because she's got this new knowledge, and she's she's rung me yesterday. She said, I met up with all the mums, and I was telling them, right, I've got all the I've got the down low now. And as you say, it's a it's a trust circle. But I I like your idea of you know actually going to the net the nurseries.

SPEAKER_04 42:32

There's something in that as well, because then you can create almost a plan that runs alongside that child and it educates the parent of when and how they should engage with that child to teach them about how their investment is performing and why they're doing it. And then that runs almost along, it becomes like you have to do it. It can almost become like a curriculum thing. So at say six years old, we start to teach them about Save Your Acorns, Rob Gardner, fantastic guy. Yeah, absolutely. The Save Your Acorns book, right? And that's a powerful book. Now, if you incorporate something like that earlier on in the in the child's journey through educating parents, there lies the solution to the problem that we have around the advice gap. Exactly.

SPEAKER_01 43:14

I mean, my my nephew was sitting, he's only 11, Logan, and he is fascinated because he's been like investing, his parents have been investing on his behalf, and I was explaining to him what it all was, and he was showing him the cash flow plan, and all of a sudden he was like, Right, I'm not gonna spend my money, I'm literally gonna save it. I mean, we have we have a group of young people that actually I have to sometimes say, you need to keep a little bit more aside because they've become sort of really focused on the fact that they want to have an early retirement, they want to have a strong lifestyle in their retirement, and they don't want to just blow it all now. They can blow a bit. Now we try to say keep your your lifestyle balanced, but that compound growth is just so powerful. And getting that knowledge out to people is just, I think, through the acorns and things, very, very powerful.

SPEAKER_03 43:58

Do you know what the biggest thing is it's that? Habit building, you know, parents don't necessarily have to have loads of of money to kind of put aside. But first you've got the compound growth. So even if you're putting small amounts aside, that's going to be growing for your child. But starting those habits, and then as you get older, saying, because I've got quite a few clients, as their kids come to 18, they go, okay, you're now taking over that that amount per month.

SPEAKER_01 44:23

Yeah.

SPEAKER_03 44:23

You know, and building that habit in and seeing it almost like a bill. Yeah, what that's going to do for their future is just immeasurable.

SPEAKER_01 44:30

It's just but reminded me as well. You rent Victoria ran a uh radio station in in your school. And I came in one day to talk about this tonight. And we actually, one of our young ladies who's working with us, she's at university and she's doing the job that Victoria did do when she was at university. That came from that, didn't it? And you went and did some educational talks at the school. That's a good idea. So they and they really like it because they think, hold on, I didn't know that was a career. I didn't know that was something we need to be doing. And it's just very, very powerful.

SPEAKER_04 44:58

I've said this to you already, which is why I've introduced you straight away to um to legal in general. I just think you are perfectly placed based on your experience in age, how you look as well. That does play a part when it comes to things like social media and perfectly placed to articulate financial planning to the next generation as a career and as a as a um a well-being product.

SPEAKER_03 45:20

And do you know what? I actually was pleasantly surprised. I'd done a lot of um kind of speeches to two schools, and at first I was a bit worried. I was a bit worried that they weren't they're gonna be, oh, it's another speech we have to go to at the school. But they have their heads turned on. Yeah. And they do kids want to learn. They want because you know, most of them they don't want to pay much tax, they want to grow their money as much as much as possible, and they don't know how. So I've seen like the actual feedback that I had at the session was incredible because it's like it's exciting.

SPEAKER_01 45:49

You spoke to 75 people, didn't you? And I it was quite funny because I sat and I saw the queue of people waiting to ask her questions, and I was sat at the back going, wow, because I thought they were gonna be like and I was thinking, oh, I was I was nervous watching you do it. And because it was silent, it was just silent, and I was thinking, oh my gosh, they're gonna start taking their phones out. But they don't they went on a big UTQ and asking you questions, weren't they? Yeah, I think they still keep contacting.

SPEAKER_04 46:14

Because they're because she's relatable. Yes, because it's it's you know, and also as well, she's close to their age.

SPEAKER_01 46:19

Yeah, yeah, yeah.

SPEAKER_04 46:19

It's so important. It's like, and and everyone wants to go in and look, the PFS do a lot of it, they go into schools and they educate them. But I'm saying I had a conversation with someone recently, and they're like, How do we they've they've got a project, it's a next gen product, uh project, and I'll introduce you to that guy as well. It's a guy called Tim. Um I've already spoken to him about you.

SPEAKER_02 46:34

Oh, okay.

SPEAKER_04 46:34

Um They're trying to get people who are like in school around the age of 16 interested in financial planning as a career. And as I said to them, you have to put somebody in that is relatable to that person. They have to be close to that age. Yes. They have to see themselves in that person. Definitely. You could be 30 going in there, but 30 at 16 to 30, it's like you're an adult bloody, you know, completely different generation. You know, it's funny because I've been actually taking some time to watch things on YouTube now from Gen Z, I guess, which is like 20 year olds. So I'm trying to watch what Gen Zs are talking about and uh speaking about and how they articulate each other, what they care about, and all of that, because I ain't got a clue. You know, my daughter's 10. I mean all my daughters, like we told her, but sorry about that one. But I need to understand what that generation is all about at the moment because that's the ones that she's watching or will be watching, and I need to understand. Now I can't tell my daughter how to live her life because she's gonna learn it from people who are 20 years old or whatever, like you know, so it's important I understand that. And I think good positive role models that are relatable is what they need, not somebody who's kind of 10 years into their journey. It doesn't it doesn't transcend.

SPEAKER_02 47:43

Yeah.

Corporate Pensions And Protection Strategy

SPEAKER_04 47:44

One of the biggest challenges that people have when they come into financial planning, especially if they are younger as well, is generating clients. So can you tell me a little bit about your approach to generating clients as a financial planner?

SPEAKER_03 47:56

Of course. So I mean, we were talking about this earlier. When when you come into the academy, you have a list of, you know, oh, I know this one from school and this person from uni and all this. And truthfully, not many of them end up actually coming through. And sometimes it can be a bit heartbreaking. It can be a bit, you come out and you go, Oh my gosh, I thought I had all these leads. But you know what? The best financial planners and and the best kind of salespeople or whatever you're doing, you're resilient and you go, okay, what's next? So I kind of took a two-way focus to it. So the first one was I decided to focus a lot on protection. And that was something that, you know, there was a little bit of a gap in in the market in terms of how much of an emphasis put on people put on protection. So one thing I do for a lot of advisors is I actually take on that burden for them. And, you know, I reach out to other advisors and say, How can I help your clients? How can I, you know, and then kind of kind of help them in that sense. And the other focus we had was corporations. And that was really something where, you know, I I I actually it was a complete coincidence, and this comes back to our conversation earlier about just talking to people because you never know who you're going to meet. And we were at a charity event, and I just got talking to this lady and she said, Oh, what do you do? Um, and I mentioned that I was a financial advisor, but I love to put the conversation on them. I don't like talking about myself very much. Um, and she said, Well, actually, I run I run a charity. Can I ask you a question? Because all of my young staff are opting out of their auto enrollment scheme and I'm terrified for them. And that actually kind of started me on going, do you know what? We really, really need to firstly educate the younger generation, but also focus on corporations and are their pension schemes in the right place? Who needs help? And it's a bit of a benefit, it's a win-win for both of us in that I get introduced to a lot of clients, whereas the employer, they are introducing all of their employees to a financial advisor. They're giving them that opportunity. It's breaking down any of those, I'm not rich enough to have a financial advisor, and all those kind of stereotypes go out the window because we get to sit in front of them and tell them what they should be doing. We have that corporate view, we're going to look after your pensions, but we have that personal view with each of the employees. Um, and that's really kind of where I've seen a lot.

SPEAKER_01 50:10

Biggest hook, really, because you've got the, you know, there's one particular um company that's got 90 people, and you know, you've worked so hard to go in there. She's working me hard. I go in the other day, it was 15 appointments.

SPEAKER_03 50:23

Mum is now my bag carrier occasionally.

SPEAKER_01 50:26

So I sit and do some of the notes. And but it was interesting to see because it was 15 clients that day, they were queuing up outside, but they've all got partners and they've all got, oh well, my mum needed help with this. So that's where once you get that hook somewhere and someone believes in you, and then I told you that they run, yes, and so they've got 300 contractors that have got wind of the fact that this is really useful advice. Um, so it's a win-win for the client as well because they're getting salary sacrifice, and but um, you know, generally most employers really just care about their staff and they like to be able to offer this. And at the end of the day, it's not costing them anything. And that was something that you took the practice into and really launched that both protection and corporate, because I was very, very busy with pensions, investments, and telling clients they needed protection, but it's a lot of chasing, it's a lot of chasing. And you did you, I think you went to the doctor surgery 12 times for one client just to get forms filled out, but that was the energy you brought and how you got your clients.

SPEAKER_04 51:24

Let's go into this then because protection is a very under undervalued um and underrated entry point in financial planning in respect to building client relationships. Um, tell me your views on protection. How important is it and how do you position it?

SPEAKER_03 51:36

Do you know what I think it is immeasurably important? And I think you, as both my mum and as a finite as my financial advisor, when I started, really did show me the impact of that. And being a PSS, I got to see the people who had something happen and didn't have anything in place and the impact that that had on their family and on them, and I got to see the people that had you know protection in place and how little of an impact it then had on them. And you know, it I think it's incredibly important, and unfortunately, it is one of those things, it is a lot of work to get that protection in place for a client. The underwriting, yeah, I have to chase doctor surgeries, which as we all probably know, don't they're not very quick to respond with anything. Um, so but I just think I think it's so important, and obviously, a lot of practices that you know I kind of work alongside to offer them that I will come and help with all of your protection. Um, it's it's not that they don't want to do it for their client, they know the value of it. Financial advisors will know that it's important, it's that they might not have the time to do it.

SPEAKER_04 52:40

Okay, so it's a fantastic entry point for you to be able to speak to clients about something which is massively valuable. Definitely. But also there's the network that you can build in respective introducers are like existing partner practices, for example, right? Other financial advisors. Um, now how do you position life protection to somebody when they think, well, you know, I don't really need it, I'll be dead, who cares?

SPEAKER_03 53:01

Do you know what? Sometimes that is one of the hardest points. And truthfully, it's completely dependent on the person. You know, for example, you know, you yourself, you have kids. You know, that's some of the biggest things is what are your kids going to do should something happen to you? And sometimes we we I kind of proposition it in the meeting like unfortunately we have to get morbid now, and you know, we have to get on a slightly deeper topic, and sometimes it can be a harder meeting because we have to say what would happen, what would you do? And that's with life insurance, that's critical illness, that's with income protection, with all of them. And it's understanding the client's values, what they want, um, the client's affordability is obviously one of the biggest, biggest kind of factors. And sometimes it does take a while. Sometimes it takes time for a client to understand, but the biggest thing for clients is again its age. A bit like investment, starting younger is better because your insurance is cheap. Yeah, yeah. You know, it's much cheaper. So it's it's kind of emphasizing to that that to clients. And you know, this is a long, lot ongoing relationship we have with clients. We like to think of it as we have a list of all the things that you can have with a client. You know, have you got investments? Have you got protection? Have you got a will? All of those different features. And over time, we want to get it that everything is ticked.

SPEAKER_01 54:19

Yeah, we have it green, it starts with red and then moving off to green.

SPEAKER_03 54:22

And if that's something that, you know, perhaps we would start, obviously I'll I'll highlight protection to them, but perhaps we start with pension planning. You know, that's what a lot of people are scared about. And then because it's an ongoing relationship, we can say, okay, what can we do to take your financial plan to the next step? And it they can be hard meetings. Yeah, they can be hard meetings.

SPEAKER_01 54:40

And I think you know, you've got it really down to a T now with protection. Um, but I think one, you really believe in it because I explained, I actually started my journey with St. James's place 15 years ago, so um, because of protection, because I was petrified. I'd got divorced. All of a sudden, if I died, because the value of my house, just because I bought it cheap and it's you know, compound growth on it, you know, worth a lot of money. My children, if I died, I was on and off the planes all the time. If I didn't get off a plane and something happened, and I was pretty scared of flying at that time, wasn't I? Then my children would have had to move out of the house. There was no protection in there, so I put a lot of money. So my second biggest cost every single month is protection. So you knew that, so you had a real belief in that. Sometimes clients think you may be trying to sell them something, and it's and it's trying to get them over that to say, I'm not trying to sell this, I'm telling you this is something you really need. And you might have to sell them in a few meetings before, and but having Victoria go into it as a protection, I said, Right, I'm actually going to get Victoria to do a full assessment, literally just to say, what do you need? What could go wrong and what do you need? And having that separate meeting, I was actually quite relieved because some of the questions you have to ask.

SPEAKER_00 55:52

There's always a funny side to something, isn't it? But one of the clients rang me, she said, Your daughter's just in there asking my husband some very detailed questions to do it with a straight face. And it's quite nice.

SPEAKER_01 56:03

It was quite nice for me to sort of sometimes be once removed from people that were just sort of doing the application. But um, you know, once they get it in place, the relief is actually quite big for them. And we very rarely have anybody because we always say to me, You must keep up your premiums. You must keep them up. You will never get this as cheap again, and it will go up on a steep curve depending on your age. And pretty much people are they get quite braggy about it then, don't they? Oh, I'm covered for everything, no matter what happens.

SPEAKER_04 56:30

A lot of people worry about the questions that come with life protection as well, and having to go to the doctor. Like I've had mental health problems within my life, and you know, it's taken me to some pretty dark places. And you know, when a financial advisor talks to me, they're like I'm gonna have to ask you these questions. I'm like, it's cool, ask me those questions. I do think there's a huge amount of people out there that would obviously push away any of those questions because they don't particularly want to um increase their premium or even get into that level of conversation. So I think as a financial planner, it's really important that you are aware of how life companies actually rate and um cover the lives of people that have had mental health problems, people with attempted suicide and things like that.

SPEAKER_01 57:14

Yes, yes.

SPEAKER_04 57:15

But it's it's very important. And I think if you have that level of um empathy and understanding, you can put people at ease. And again, it becomes another area where you can have that conversation. But we're going to ask you some questions, and it might be quite personal, but it's okay. We want you to be honest. And if you've got a specialism and protection companies out there now are really good with people that have had mental health problems and any kind of like suicide attempts or anything, like some of the people will there are firms out there that will cover people like that. So to think that somebody can't get that is is is untrue. And I think that's a story as well that needs to be shared. But you know, life protection is out there, it might be a bit more expensive for some places, yeah. But you know, it's for everybody.

SPEAKER_01 57:54

Exactly. And you know, we've actually had a client who got diagnosed with something very early because she was putting protection in place and had to have these tests. And you know what? You get a lot of these tests, it's not going to cost you anything, are there? You know, because the the insurance company paid for them. Yeah. And she got early detection on something, was able to get it sorted.

SPEAKER_02 58:11

So saving lives as well.

SPEAKER_01 58:12

Yeah, exactly. And we've had a marriage proposal because the inheritance tax bill was so high.

SPEAKER_00 58:18

And we were literally

Protection Conversations That Save Futures

SPEAKER_00 58:20

literally on the screen. I was like, well, we might as well get married.

SPEAKER_04 58:22

I love it.

SPEAKER_00 58:23

Okay, congratulations.

SPEAKER_04 58:24

Well, you know, I wanted to do it, I wanted to do a segment on the power of protection because I think it is one of the most undervalued things, and I hear financial planners say it all the time. So thank you for sharing that as well. And I think it's a great opportunity for somebody who's younger as well to go in and develop business. Now, um, I know that you don't like talking about yourself. So I'm actually going to just sort of ask Mum here, how successful has she been as a financial planner?

SPEAKER_01 58:44

Oh, she's done amazing. So she came out of the academy, and um, one of the promises actually that I'd made her because when she came out of university, she said, Well, I want to go traveling gap year. And I said, Well, why don't you get the exams under your belt and then go? And that was the promise, and it was hard when you came out of the academy because she took, you know, a few months off going travelling. And but despite that, in her first year, she did partner, which is huge in St. James's place. Actually, I believe you're in the top 1% of advisors, and she's in the top 0.01% of advisors doing protection. Wow. So absolutely blown away. So really, really proud. And um, it's just great to see you, except you know, when she comes every month asking for a paycheck.

SPEAKER_04 59:26

She tells you to put 90% of it in savings.

SPEAKER_03 59:30

Exactly.

SPEAKER_04 59:30

How do you feel when you when you hear that?

SPEAKER_03 59:33

I think really proud actually. It really helps that imposter syndrome, you know, and I think that's one thing that I love being a part of obviously a practice with you. Um, you're great at giving me good feedback, um, but also being a part of St. James's place is being able to see, you know, that kind of that's what you're that's the level that you're performing at, and being able to see, you know, that not only am I doing the right thing for my client, but I'm doing it really well, you know. And I think it's it's nice to see, and you're a pretty tough act to follow. So quite nice.

SPEAKER_04 1:00:02

This is what they say, mentorship, right? I think there's one in 26 or one in 16, so don't quote me on that. Leaders uh sorry, senior leaders within financial services are women. So very few. So what we need is more women in leadership roles who've gone through the process, articulating and explaining the story to show women what you can be within financial service. And the 16% SJP are doing a very good job. They're at 20%, 1,000 financial planners now in the business of SJP, which is fantastic. I saw that on International Women's Day quite recently. But we need to get more women involved, you know, and the only way you're gonna do that is by seeing fantastic women like you doing the job, but loving it, having an impact. Because I think women and men 100% just want to help people. Yes, you know, and financial planning for a career is without a shadow of a doubt adding financial well-being to somebody's life can change their life. People do end their lives because of money, or they feel unfulfilled because of it, or they don't know when they can stop. Or in reality, when you have a conversation with someone like you, you can change their whole life, right?

SPEAKER_01 1:01:05

Absolutely, absolutely. And I think the other thing that is really a massive success for you is I find now when we're in our meetings, and we do still do a lot of joint meetings together, um, I'm the quiet one. I go to say the quote, the quote, the client asks the question, I'm like, and then Victoria's like verbatim, it's like a mini me. It's great. And I just know that that's that's the biggest thing. No matter what the figures say or anything, it's just seeing her help clients and the clients come back and the you know, they're just over the moon and they bypass me. I'm like, okay, that's great. I love that.

SPEAKER_04 1:01:38

I always want to give people get a bit of context as well that how quickly you can be a success as a financial planner at St. James's Place running your own partner practice and really what the end goal is, and you know, you you can sell a financial planning business. Uh St. James's Place have an ecosystem, uh, the practice buyout. What's it called? BM BSP. Um so let's just talk about some of the success

Building A Valuable Practice Together

SPEAKER_04 1:01:59

you've had so far. So as a practice, you're the practice, it's your practice. Yes. Yeah, but you're self-employed under the practice. Yes. Yeah. So you're running your own business essentially in your own uh client bank and all of that kind of stuff. Yeah. So you're building intrinsic value for yourself.

SPEAKER_01 1:02:14

Yeah. She's also, yeah, just recently you're a partner in the business as well. So part of the business she owns. Yeah. Just recently through, she's done her own BSP. So she's building her own like value. So she's done that. She's already done that already. So she's a business owner. So yeah, so she has now got a value on her business, but we're under the same umbrella because we're pulling all our resources, pulling everything together. But one of the different things I wanted to do was to create a hybrid situation that it wasn't just me owning everything. I wanted her to have skin in the game.

SPEAKER_02 1:02:44

Yeah.

SPEAKER_01 1:02:45

So she has the skin in the game and she's doing really well. And um, yeah, so my practice has a value, and then it went down when you bought it a little bit. And now it's coming back up again, but it's it's very healthy.

SPEAKER_04 1:02:57

So have you got a valuation of your business?

SPEAKER_03 1:02:59

I actu I have a value of what my purchase price was.

SPEAKER_01 1:03:02

I don't actually know I believe your value of your business is about 400,000 at the moment. So yeah. Glad you know this bigger way.

SPEAKER_04 1:03:09

24 years old. Yeah. Financial planner on the way to chartered, and you've already got yourself a business which is valued at 400,000. Yes. So that's what's possible.

SPEAKER_03 1:03:18

Yeah. After a year and a half.

SPEAKER_04 1:03:20

That's huge. That's a hell of a story.

SPEAKER_03 1:03:23

I know.

SPEAKER_04 1:03:23

That's huge.

SPEAKER_03 1:03:25

Yeah. And they took three months off.

SPEAKER_04 1:03:28

Because you saved your money.

SPEAKER_03 1:03:30

Yes, exactly.

SPEAKER_01 1:03:31

Yeah.

SPEAKER_04 1:03:31

What about the practice overall? Because you how long have you been going for now?

SPEAKER_01 1:03:34

So the day you you bought your pit, it was up to 2.8 million in three years. And now it's at uh it was it went down to 2.4, it's going back up because obviously it just keeps growing and new clients are coming in.

unknown 1:03:46

St.

SPEAKER_01 1:03:47

James's Place did a great job with growing the growth of the bit of the so as the clients grow and their values grow, that's the intrinsic value of the business goes up. So it's yeah, it's it's a wonderful opportunity. I'm almost gobsmacked by it.

SPEAKER_04 1:04:02

It's incredible, isn't it? Because you you spent a lot of time in the corporate world. If you hadn't taken that that that that risk and that leap into running your own business, you may never have achieved the things that you have achieved that actually do make you feel good. Running a business, building something for yourself that has value that you can exit on, etc. Is it powerful stuff, right? Yeah. And you're both exp you're both experiencing that right now.

SPEAKER_02 1:04:23

Yeah.

SPEAKER_04 1:04:24

Um I got confused then by that.

SPEAKER_01 1:04:28

I don't I don't plan on selling anytime soon. So the value is there, it's great. I know, I know.

SPEAKER_00 1:04:33

I just love it. I want to stay working away.

SPEAKER_04 1:04:36

I suppose as well, it goes back to that intergenerational wealth thing. So in the back of your mind, you're thinking as well, looking at some point Victoria can get stuck in and take over the business in total. Yeah, exactly. But your son's getting involved as well, right?

SPEAKER_00 1:04:47

Yes, yeah.

SPEAKER_01 1:04:47

Sean is working in really well. He's stuck now, he's a PSS. So we're hoping he'd maybe stay in the business. So he's uh he says he's evaluating whether it's for him, which is very honest. Yeah, uh, but he's done amazing and he's implemented some AI into the business, which has made it a lot slicker, a lot um more you know process driven. He's done a great job. Yes.

SPEAKER_04 1:05:08

I just want to kind of like touch on this because people get freaked out about setting up their own business,

Community Support And Closing Takeaways

SPEAKER_04 1:05:12

and rightfully so. There's a lot of pressure. Um, it can be very, very hard. The first 12 months can be really difficult, but I think environment, uh, community um and connection is really, really important. Um when it comes to St. James's place, do you feel like you're an entrepreneur instead of an entrepreneur?

SPEAKER_01 1:05:28

I think that's a really good way to value it because we are just following a process that really works and is really efficient, and but you get to build your own business. Yeah, it's really unique. I I don't actually know where there's any other opportunity to do that.

SPEAKER_02 1:05:42

Yeah.

SPEAKER_01 1:05:42

Yeah, because it's and it's because it's scary. You know, it's scary. You know, I'm I'm this is you know, it was a new career, but having all those processes around SJP and people helping you, and everybody wants to help you, everybody's so keen to help you, it's great. Um, gives you that confidence. I had no idea the business would grow like that. I was petrified. Um, you know, that could I pay the bills? You know, it's going self-employed is like really, really scary. Um, but um to be able to grow a business with that value is is just incredible to have or feel very privileged that we've got that organization around us.

SPEAKER_04 1:06:16

I love it. Look, I think you're both destined for incredible things, you've done incredible things so far. I've just energized by you both that you do it, it gives you confidence and an energy that I want to go and tell other people and wish I have. And I can can't just sort of hammer that home enough. You've got to be a you've got to be somebody that's adding value and making somebody feel good. And that gets taken forward. That's one of the most powerful things you can do in any kind of sales job. I learned that through knocking on people's door for two years when I was about I didn't get to I didn't go to university or anything, right? I did a job where I was knocking on people's doors. Two years I built a team doing it, self-employed when I was like 16 to 18. But I knew that when I when I did that job, how I interacted with people, how I made them feel, that's the most powerful thing. And that's direct marketing, uh, and that's the skill of sales. And nobody can take that away from you. When you learn that, that is a skill set that will take you through life and make you be an absolute super duper success. Yeah, and you both have that. You've had it through generational uh working within corporate, and now you're passing it along to your daughter who is taking it with open hands and has obviously got it naturally within her as well. So I want to hear some other great things that you're gonna be doing in the future. I want to continue talking to you. I think there's podcasts in it, I think there's something that you can do together that will just elevate you both even higher than you are right now, and get your message out to the right people and help people because that's what it's all about the other way.

SPEAKER_01 1:07:36

Yeah, definitely. I mean, that joy of saying to people, they know nothing, they're scared, they're worried on the, you know, I've just been made redundant, I don't know what to do, and getting them coming off in one hour, going, huh, I'm gonna be okay. You know, and we've got loads of evidence of clients that are just we know they're telling people excitedly because their friends are coming to us and they are saying, You've got to talk. You need these people in your life.

SPEAKER_04 1:08:00

The financial well-being power hour.

SPEAKER_01 1:08:02

Yes, I love that. Yes, that's what it is.

SPEAKER_04 1:08:06

Yeah, with Adele and Victoria. By the end of this hour, there's a product. Yes, you know, you can do it as a coaching tool, couldn't you? As a video, why not?

SPEAKER_00 1:08:13

Yeah, Rose Your Oyster.

SPEAKER_04 1:08:15

Thank you so much for sharing your journey, the success you've had at Financial Um at Sir St. James's Place as financial planners. And like, you know, we wish you all the best and we want to hear from you again.

SPEAKER_00 1:08:23

Thank you very much. Thank you so much for having us, Anne. Great, thank you.