Latest / Financial Planner Life Podcast / Rose Was Offered to Buy the Financial Advice Firm She Joined at 18, She Started Her Own Instead!

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Rose Was Offered to Buy the Financial Advice Firm She Joined at 18, She Started Her Own Instead! · Financial Planner Life Podcast

• 0:01
  SPEAKER_00: And today on the Financial Planel Life Podcast, we welcome Rose Hawkins from Pebble Rose Wealth.
• 0:06
  SPEAKER_01: I felt very loyal to the existing business and I wanted it to work, but I think from both sides it probably wasn't the right thing.
• 0:13
  SPEAKER_01: Even walking away from the clients was really hard, and I was worried about it.
• 0:18
  SPEAKER_01: I was a young female in the industry, so if you're sat in front of a perhaps an older client or a couple, it's very hard to, you know, to kind of convince them that you know what you're talking about.
• 0:29
  SPEAKER_01: It's not been a linear process at all.
• 0:32
  SPEAKER_01: I think I've had ups and downs and moments of not really knowing what I'm doing, but it's um it's been brilliant.
• 0:37
  SPEAKER_01: I've not had a moment of thinking, oh, why did I do it or anything like that.
• 0:41
  SPEAKER_00: Today she tells us about her career journey from school to becoming a principal of her own business.
• 0:47
  SPEAKER_00: Why she made a decision not to take over an existing practice that she was at for 13 years.
• 0:53
  SPEAKER_00: You're gonna love this if you're a true entrepreneur.
• 1:00
  SPEAKER_00: So, Rose, thank you so much for joining me today on the Financial Planner Life podcast.
• 1:04
  SPEAKER_00: How are you?
• 1:05
  SPEAKER_01: Yes, I'm good, thank you.
• 1:06
  SPEAKER_01: Thank you for having me.
• 1:07
  SPEAKER_01: You're welcome.
• 1:07
  SPEAKER_00: Thank you for bringing some colour.
• 1:09
  SPEAKER_01: Yeah.
• 1:09
  SPEAKER_00: I can't seem to move on from black, like I'm a goth.
• 1:12
  SPEAKER_00: I just like I can't seem to move on.
• 1:13
  SPEAKER_00: Thanks for bringing colour to the Financial Planner Life.
• 1:16
  SPEAKER_00: I love it.
• 1:16
  SPEAKER_00: Brilliant.
• 1:17
  SPEAKER_00: Well, listen, Rose, you're here today because of a special uh uh partnership now with Open Work, where we get to meet lots of the uh individuals that work underneath open work as a network within financial planning, and you've been there for quite some time.
• 1:30
  SPEAKER_00: So today we're gonna learn about your you, your career journey, all the way from school to now running your own financial planning practice, which is very, very exciting for you, I bet.
• 1:38
  SPEAKER_01: Yes, definitely.
• 1:39
  SPEAKER_01: It was all a bit of a strange uh journey, but it's great, it's been brilliant.
• 1:44
  SPEAKER_01: Oh, I love it.
• 1:45
  SPEAKER_00: Why don't you just tell me a little bit about how you got into financial planning then?
• 1:49
  SPEAKER_01: So I, like you said, just left straight from school and I knew I didn't want to go to university.
• 1:55
  SPEAKER_01: And my family financial advisor kind of sort of said about an apprenticeship opportunity just to sort of learn the process there and start and do my exams with them.
• 2:06
  SPEAKER_01: And I was thinking that I wanted to do something in finances but didn't really know what and knew nothing about this particular industry, so I gave it a go.
• 2:15
  SPEAKER_01: And um, yeah, the rest is history really.
• 2:18
  SPEAKER_01: I I sort of did my qualifications with that firm and started off just doing admin for them.
• 2:24
  SPEAKER_01: And it was in 2011, so RDR was just around the corner, which was this huge big industry change that was happening, and lots of advisors were doing their qualifications at the time.
• 2:34
  SPEAKER_01: So we just sort of sat together and did them together.
• 2:38
  SPEAKER_01: And yeah, I kind of learned from that kind of all the way up to financial advice.
• 2:44
  SPEAKER_01: So it was a long process because I left school and I would say I didn't have a huge amount of confidence just to sit in front of a client straight away and start advising them.
• 2:54
  SPEAKER_01: Um, but I kind of grew grew in confidence with that firm.
• 2:58
  SPEAKER_01: So learnt, you know, a lot about how to speak to clients, understanding the process from admin to para planning to then advising.
• 3:06
  SPEAKER_01: And also I I kind of took control of the ongoing service side of things because of RDR and I became that kind of person that was was helping the the ongoing clients as we moved on.
• 3:18
  SPEAKER_01: So brilliant.
• 3:19
  SPEAKER_00: So lots of stuff to go.
• 3:20
  SPEAKER_00: Yeah.
• 3:20
  SPEAKER_00: 13 years though, you were doing that, right?
• 3:22
  SPEAKER_01: Yes, yes.
• 3:23
  SPEAKER_01: So I joined in 2011 and then decided to to set up on my own just in 2025.
• 3:30
  SPEAKER_01: So it was yeah, just near on 14 years really of doing that.
• 3:35
  SPEAKER_01: And it my role definitely progressed as the the business grew and changed because it was very much admin to start with, and then a paraplanning role.
• 3:43
  SPEAKER_01: But we were relatively small firm to begin with, and then we kind of acquired new advisors and a much bigger client bank.
• 3:50
  SPEAKER_01: So it it changed as the time went on, and then I eventually got my license and obviously was mainly predominantly servicing those clients, which was great for me because it really helped with my confidence, my knowledge, and and speaking to clients.
• 4:06
  SPEAKER_00: Love it.
• 4:06
  SPEAKER_00: So there's a couple of routes, isn't there, into financial advice?
• 4:08
  SPEAKER_00: One is you go into an academy and you know, open work have got the you know the academy.
• 4:13
  SPEAKER_00: Yeah, you know, you could go in there, you could do your qualifications and go off and off you go, run your own business, you know, route to principle, etc.
• 4:19
  SPEAKER_00: Definitely.
• 4:19
  SPEAKER_00: Um, or there is going down the administration power planner route and then becoming a financial planner.
• 4:24
  SPEAKER_00: Now you've you've done that.
• 4:26
  SPEAKER_00: So what's your experience and what's your sort of take on that?
• 4:29
  SPEAKER_00: Do you think that that was a valuable career pathway?
• 4:34
  SPEAKER_01: Yeah, I think for me it was really valuable because it allowed me to learn all elements of the process and the different stages in terms of you know what a client needs and what you would recommend for a client.
• 4:45
  SPEAKER_01: But also for me, it gave me the confidence, I would say, because I really brushed up on the technical side of things.
• 4:52
  SPEAKER_01: I think they say like knowledge is power, and I definitely felt that because I was a young female in the industry.
• 4:58
  SPEAKER_01: So if you're sat in front of a perhaps an older client or a couple, it's very hard to, you know, to kind of convince them that you know what you're talking about.
• 5:06
  SPEAKER_01: So I think the the admin and the power planning side of things really helped me to feel that confidence in terms of that I knew what I was speaking about and I understood the reasons why, which gave me that confidence.
• 5:18
  SPEAKER_00: I think for our listeners and the ones that are thinking about what pathway to take, okay.
• 5:22
  SPEAKER_00: So, how did administration and how did power planning actually give you that confidence?
• 5:26
  SPEAKER_01: I think because I understood, I understood the reason why we were doing everything, and I also understood the mechanics behind what that actually required.
• 5:37
  SPEAKER_01: So, you know, all of the the back office work that you have to do for a client and all of the information that you need when you're fact-finding with a client and you know, making sure that you've covered everything with them, and also the the technical side, so like the tax implications when you're speaking to someone and that sort of thing, I understood that in a in a great detail, as opposed to just starting off as advising straight away and not necessarily, you know, obviously you've got the qualification, but actually applying that to real life cases was really important.
• 6:06
  SPEAKER_01: And because I was part of a firm where we sort of covered all elements, I I was able to sit in with those client meetings as well.
• 6:14
  SPEAKER_01: So then I could see the end-to-end process, which really helped me.
• 6:17
  SPEAKER_00: Yeah.
• 6:18
  SPEAKER_00: I always say, like, you know, anyone if you're an administrator or a power planner, really, really push to get in those meetings.
• 6:23
  SPEAKER_00: Yes, sit in those meetings, get that client experience.
• 6:26
  SPEAKER_00: You felt that that was a useful thing for you.
• 6:27
  SPEAKER_01: Yeah, I think it was really useful because again, it helped me get to know the clients and understand the actual application of what we were recommending on paper versus you know, actually then applying it to a real life client and you know, understanding why.
• 6:40
  SPEAKER_01: And and obviously for the client, it's much more about the relationship, not necessarily the tax side of things, but um, yeah, it was just getting used to the different dynamic when you're speaking in front of a real life client.
• 6:51
  SPEAKER_01: So love it.
• 6:52
  SPEAKER_00: So straight from school then, how old were you at the time?
• 6:54
  SPEAKER_01: So I left, I was literally just turned 18 and yeah, just fresh from school, uh, finished my A levels and just started my RO exam straight away from there.
• 7:06
  SPEAKER_00: So do you think it's a really good role to get into straight from school?
• 7:10
  SPEAKER_01: I think it yeah, I think it's brilliant.
• 7:12
  SPEAKER_01: I think especially now things are changing a little bit, a lot of people don't want to go to university so much.
• 7:18
  SPEAKER_01: I was quite clear that I didn't want to go to uni, but I didn't really know what I did want to do.
• 7:22
  SPEAKER_01: And I I don't think this industry is that well known.
• 7:25
  SPEAKER_01: And also there's so many different avenues that you can go down with the industry.
• 7:29
  SPEAKER_01: So, you know, if you get that diploma qualification, it you know, you can you can go down all different routes.
• 7:35
  SPEAKER_01: It's not necessarily just the advisor route if you don't want to, but um yeah, I think it was a blessing in disguise.
• 7:41
  SPEAKER_01: I didn't really know what I was getting into when I joined, but obviously I've not looked back since.
• 7:46
  SPEAKER_00: So did you do an apprenticeship or was it just straight into an employee like uh contractual role?
• 7:50
  SPEAKER_01: It was a bit of an apprenticeship.
• 7:53
  SPEAKER_01: Uh I did sort of four days employed admin type role, and then I had a day of study at you know, once a week where I would just use that as a bit of a study day, and then yeah, just carried on from there.
• 8:05
  SPEAKER_00: Great qualifications, which route did you go down?
• 8:08
  SPEAKER_01: So I did my diploma, the level four diploma.
• 8:11
  SPEAKER_01: I'm currently I've done my AF exam, so I I'm nearly nearly chartered, but I've got to do a little bit of gap fill now, so that's taken me a little bit longer.
• 8:20
  SPEAKER_01: But yes, I've done the the level four diploma.
• 8:22
  SPEAKER_00: So just give us a bit of an insight into what gap fill is for those that don't quite understand that.
• 8:27
  SPEAKER_01: So I had the credits from my diploma, which I think was about 110.
• 8:32
  SPEAKER_01: So to achieve chartered status, you have to have 290 credits with the CII or equivalence.
• 8:40
  SPEAKER_01: And because I only had the level four diploma, I didn't have any university degree that could count towards credits.
• 8:45
  SPEAKER_01: There's a little bit of gap fill that I need to do so I can do another CII exam and build up some credits.
• 8:51
  SPEAKER_01: So I've obviously done my CF6 mortgage exam, which I think that was 20 credits, um, and I've got about 70 still to do.
• 8:59
  SPEAKER_01: So there's a couple of other exams that I'm planning to do to kind of fill that gap where I've got a few um credits to get still.
• 9:07
  SPEAKER_01: So hopefully that won't take long.
• 9:09
  SPEAKER_00: Fantastic.
• 9:10
  SPEAKER_00: Um, so did you join open work all those years back?
• 9:14
  SPEAKER_00: Was it were you straightened the open work?
• 9:16
  SPEAKER_01: Um, the firm that I joined were part of the open work network and they had, yeah, they'd been with them since the Allied Dunbar days, so very early on, and yeah, I've been with them ever since.
• 9:28
  SPEAKER_01: And especially when I was thinking about setting up on my own, I didn't really have a doubt that I would want to stay with open work.
• 9:34
  SPEAKER_01: It was very much, it felt like home, really.
• 9:37
  SPEAKER_00: I love it.
• 9:38
  SPEAKER_00: Okay, great stuff.
• 9:39
  SPEAKER_00: Did you do your qualifications through open work?
• 9:41
  SPEAKER_01: At the time, there wasn't any such thing as the business school or anything like that.
• 9:45
  SPEAKER_01: So I just did them myself through the CII.
• 9:49
  SPEAKER_01: But we since had a couple of within that firm, we had a few other new starters that came and they went through the academy at the time.
• 9:56
  SPEAKER_01: And now obviously the business school has have established a clear path.
• 10:00
  SPEAKER_01: So when I did my CF6 exam, I was able to do that through open work, which was was really good.
• 10:06
  SPEAKER_01: And a lot of my AF exams through chartered, I've I've done through the business school, which has been great.
• 10:11
  SPEAKER_00: Brilliant.
• 10:12
  SPEAKER_00: So, what sort of support?
• 10:13
  SPEAKER_00: What do they do in that business school that makes it you know easier for you to perhaps those qualifications?
• 10:17
  SPEAKER_01: So instead of just getting the the CII book and having to read through that, we had uh a somebody that was designated to help us and modules, you know.
• 10:27
  SPEAKER_01: I think the AF one, we had four modules leading up over a three-month period, and it was it was kind of face-to-face learning and a a lot more interactive, I would say, which really helped me because obviously the AF ones in particular are a lot of um kind of coursework and and writing things down, and I didn't really know where to start.
• 10:48
  SPEAKER_01: So it was really useful to have somebody in the industry that's obviously gone through that and they've got a clear process in terms of how to train you.
• 10:56
  SPEAKER_00: What about your expectations versus reality of doing that chartered qualification?
• 11:00
  SPEAKER_01: I think that I I probably didn't realise how much time it would take, and it's very difficult when you're trying to work alongside it as well.
• 11:09
  SPEAKER_01: So it was I'm really glad I've done it because I feel like it's elevated my the technical side of things, and hopefully, once I've got the gap fill and I am chartered, it will be great for me from a business side of things because I think it just kind of yeah, it elevates you a little bit more, you know, with my business, hopefully.
• 11:25
  SPEAKER_00: So you touched on being a female in financial planning a couple of minutes ago.
• 11:29
  SPEAKER_00: Yes.
• 11:30
  SPEAKER_00: You said it might have been a bit tougher for you to win hearts and minds when you sat down with clients, couples.
• 11:34
  SPEAKER_00: Why is that, do you think?
• 11:35
  SPEAKER_01: I don't know why.
• 11:36
  SPEAKER_01: I think that the industry historically has obviously been very male dominated.
• 11:42
  SPEAKER_01: I think even when I joined in 2011 and went to some events, you would get there, and I feel like I would be the only female in the room.
• 11:49
  SPEAKER_01: And I yeah, I guess that is changing now.
• 11:52
  SPEAKER_01: It's nice now when I go to events that is, you know, it's it's very different.
• 11:56
  SPEAKER_01: But I think I suppose it's just the perception is that if you have an advisor, perhaps it's a an older male.
• 12:03
  SPEAKER_01: And I think now that is starting to change, which is is great for me.
• 12:06
  SPEAKER_01: So yeah.
• 12:08
  SPEAKER_00: What do you think can be done though to attract more women to the profession?
• 12:10
  SPEAKER_00: Like from your you've been in the you've been in the game for a while now.
• 12:13
  SPEAKER_00: What what do you think can be done to attract more women into the profession?
• 12:16
  SPEAKER_01: I think just more awareness about it, really, because I don't think, like I said, I don't think the industry is that well known.
• 12:23
  SPEAKER_01: I think for women as well, it's so flexible, it's such a brilliant industry to be in because they can work around, you know, family life as well.
• 12:32
  SPEAKER_01: And yeah, I suppose it is just more awareness of of the industry and you know the different routes that you can go down.
• 12:39
  SPEAKER_01: You don't necessarily have to be an advisor if you don't want to, but you could, you know, you could you could train to be a power planner and still have that flexibility and a brilliant, you know, um livelihood from it.
• 12:49
  SPEAKER_01: So I guess it's just knowing more about it.
• 12:53
  SPEAKER_01: And also I think the dynamic is obviously changing now where a lot more wealth is passing into the hands of women.
• 12:59
  SPEAKER_01: So I think there's an opportunity there because a lot of women may want to speak to a female advisor.
• 13:04
  SPEAKER_01: So I think it's a brilliant opportunity moving forward as well.
• 13:08
  SPEAKER_00: I think uh 51% of all millionaires will be female from 2027.
• 13:12
  SPEAKER_00: Yeah.
• 13:12
  SPEAKER_00: So the wealth is transferring.
• 13:13
  SPEAKER_00: It's a lot more women that are setting up businesses.
• 13:16
  SPEAKER_00: Definitely, yeah, you know, and going out there and doing things themselves.
• 13:19
  SPEAKER_00: So I think the requirement for women to advise women is gonna be huge.
• 13:22
  SPEAKER_00: Yeah, you know, there is a different skill set, I think, that's required, you know, and lived experience.
• 13:27
  SPEAKER_00: You mentioned about families, you know, looking after families and you know, having a life around your family.
• 13:32
  SPEAKER_00: That's not just for financial plans, that's just women in general.
• 13:34
  SPEAKER_00: It's women's health.
• 13:35
  SPEAKER_00: Yes, you know, when you look at women's health, completely different, different journeys from what men go through.
• 13:38
  SPEAKER_00: Women are expected to build their wealth during a period when they're probably gonna hit menopause.
• 13:42
  SPEAKER_01: Yeah.
• 13:42
  SPEAKER_00: You know, men aren't.
• 13:43
  SPEAKER_00: You know, so there are different things we've got to think about divorce, pensions, retirement, looking after kids.
• 13:49
  SPEAKER_00: These are so many different things, and often I think women have sat in the background, but more women now are definitely coming to the forefront and managing their finances more.
• 13:56
  SPEAKER_00: You can't move for it.
• 13:57
  SPEAKER_00: You go on LinkedIn, you go on Instagram, there's a lot more influencers out there, a lot more influencers talking about it.
• 14:02
  SPEAKER_00: And it's great to see, you know, and obviously people like you coming on podcasts like this, which is designed to attract and you know retain talent in the financial planning profession, where there is only 16% being female, it's really, really important that women see women like you enjoying the job and doing doing great things.
• 14:19
  SPEAKER_00: And I think it's well suited to women and their empathic nature.
• 14:22
  SPEAKER_00: I 100% agree.
• 14:22
  SPEAKER_00: I've got a female financial planner and I love it.
• 14:24
  SPEAKER_01: Yeah, I think it definitely is.
• 14:26
  SPEAKER_01: I think they definitely women definitely bring a different perspective, uh, you know, other than just the logical side of it or thinking about the numbers.
• 14:33
  SPEAKER_01: Like you say, they can think about more of the empathetic side and understanding the reasons why you're doing something or recommending something.
• 14:40
  SPEAKER_00: So do you lean into the whole kind of vulnerable client aspect as well?
• 14:43
  SPEAKER_00: Do you do you do you look at that?
• 14:45
  SPEAKER_01: Yes, I think that's a really big thing within open work as a whole, like and the industry, but um it's obviously yeah, really important because you can, you know, you can pick up so much from speaking to a client and you build such a close relationship with them.
• 14:58
  SPEAKER_01: So, you know, I really want that to be the relationship that I have with the client that they, you know, they can talk to me about anything and that you know I understand their situation and they feel comfortable talking to me.
• 15:09
  SPEAKER_01: So love it.
• 15:11
  SPEAKER_00: Okay, so you spent a spent a good 13 years then in this original firm at open work.
• 15:14
  SPEAKER_00: Okay, so during that period, did you become a financial planner within that firm?
• 15:18
  SPEAKER_01: Yes, so I would say probably about five or six years in, I I got my licence again through open work, and that was the wealth licence, and that's where I was doing a lot of the ongoing reviews for the firm and really building relationships with the existing client bank.
• 15:34
  SPEAKER_01: So that was when I got my licence initially, and then yeah, I I didn't necessarily work with completely new clients, it was very much more of an ongoing role within the firm and the existing client bank, which was great for me.
• 15:49
  SPEAKER_00: So when you see your license, that's just CF30 becoming competent advisor status.
• 15:53
  SPEAKER_00: Yes, yeah, tell us a little bit about your journey with competent advisor status because um Hannah in my business, for example, she's our operations manager, but she wants to be a financial planner.
• 16:01
  SPEAKER_00: So she's going through her qualifications in the background.
• 16:03
  SPEAKER_00: She often asks me about Cass Competent Advisor Status.
• 16:07
  SPEAKER_00: Can you give us a give her a little bit of insight into what competent advisor status was and what what you went through when you did it?
• 16:12
  SPEAKER_01: For me, again, open work really hold your hand with that because they run a licence in week.
• 16:18
  SPEAKER_01: So I took the week kind of off work and it was remote, um, mainly done remotely, but we had a whole licence in week where you kind of go through the entire process in terms of what's um appropriate with a client, how you would submit cases, and then the process to get to full fully competent is that you work with a training and competence advisor and they check your cases.
• 16:45
  SPEAKER_01: So I think I had three cases from each area that had to be checked to make sure that they were up to scratch and that I wasn't doing anything wrong.
• 16:52
  SPEAKER_01: And then that obviously then had gave me the full sign-off to carry on and do what I was doing.
• 16:57
  SPEAKER_01: So I I really think having open work there helped, you know, held my hand a little bit and helped me with with that.
• 17:03
  SPEAKER_01: So love it.
• 17:04
  SPEAKER_00: In that position, then when you then stepped across into financial planning, I assume you were employed as a power planner.
• 17:09
  SPEAKER_00: Did you take the leap within that firm to become a financial planner self-employed, or did you continue on an employed basis?
• 17:15
  SPEAKER_01: Um, so I became self-employed, but I I did have a bit of a steady kind of income stream coming in because it was very much the ongoing servicing of those clients.
• 17:25
  SPEAKER_01: So and I still had a bit of an employed operational type role.
• 17:29
  SPEAKER_01: So it wasn't really a huge leap at that point.
• 17:32
  SPEAKER_01: And we had so many clients that I was dealing with that it didn't feel like it was suddenly I'm self-employed and I, you know, I'm relying on myself.
• 17:40
  SPEAKER_01: It it felt still that I was kind of in the comfort of a bigger firm.
• 17:45
  SPEAKER_00: A nice transition.
• 17:46
  SPEAKER_01: Yes, definitely.
• 17:47
  SPEAKER_00: Just when it comes to the servicing part, and for those that don't understand, because there are going to be people listening here and thinking, well, how do I go from power planning or step into the financial planning role within a firm?
• 17:55
  SPEAKER_00: You said servicing here.
• 17:56
  SPEAKER_00: Can you just explain what that is so people can get that?
• 17:58
  SPEAKER_01: Yes, so we had lots of clients uh predominantly again from RDR who where where the industry changed and the way that we were paid went from commission to you know signing up a client on a fee basis and then also them paying a an annual fee for being part of you know the practice and receiving a service.
• 18:20
  SPEAKER_01: So it meant that a lot of those clients, where it may well have been transactional previously, we were having to give the offer them annual reviews or half-yearly reviews to kind of review their existing investments and retain them on a longer term basis, which is much more suited to how I like to work anyway.
• 18:37
  SPEAKER_01: And it yeah, so it meant that we had lots of clients all of a sudden, that there was a huge responsibility to service them and look after them and provide them with annual reviews or half-yearly reviews and kind of make sure that everything was on track as it should be, as opposed to historically, where pre-RDR it was very much, like I say, more transactional.
• 18:57
  SPEAKER_00: So you got the chance to be able to deliver that ongoing review meetings, which meant that you got a percentage of the ongoing fee.
• 19:03
  SPEAKER_00: Yes, which helps you transition across into that financial planning thing without taking a massive leap into the unknown and having to completely rely upon new business generation.
• 19:11
  SPEAKER_01: Yeah, exactly.
• 19:12
  SPEAKER_00: Did you do much new business generation when you were in that firm?
• 19:14
  SPEAKER_01: I didn't do a huge amount because of the way that we worked.
• 19:18
  SPEAKER_01: The practice principal did a lot of the new business and then I did a lot of the ongoing.
• 19:23
  SPEAKER_01: But again, when you're servicing an existing client, there is normally a lot of new business off the back of that anyway, because you know you're you're looking at what you know their circumstances change all the while, anyway.
• 19:34
  SPEAKER_01: So there was a lot off the back of that, but um, I didn't necessarily work with a lot new clients.
• 19:41
  SPEAKER_00: Did you get quite into asking for referrals and opening up opportunities that way for new business?
• 19:45
  SPEAKER_01: I think again, because we were quite an established firm, we just naturally had a lot of word of mouth and referrals coming in.
• 19:52
  SPEAKER_01: So it wasn't really something that I felt I had to do until I set up on my own, and then I was suddenly that was a whole new skill to learn.
• 19:59
  SPEAKER_01: But at the time we just had them coming in naturally, which was great.
• 20:02
  SPEAKER_00: So you keep mentioning you went on and to set up your own firm, so we're definitely going to get into that.
• 20:07
  SPEAKER_00: So you started in this company at 18 years old, did your qualifications, admin, powerplan, classic route.
• 20:12
  SPEAKER_00: Sounds like you did a great job, started servicing.
• 20:15
  SPEAKER_00: Did you always have a bit of an entrepreneurial spirit when you were in that firm?
• 20:21
  SPEAKER_01: I think that I loved the the role and the um the business, and the plan, the discussion was always that I was going to potentially purchase that business.
• 20:34
  SPEAKER_01: Right.
• 20:34
  SPEAKER_01: So, yes, I think I was always very much going on that trajectory, and that was the route I was going down, which was great.
• 20:42
  SPEAKER_01: And I I was able to have a real handle on the business as well, which was also brilliant because I learned all different elements of running a business and the day-to-day side of it.
• 20:51
  SPEAKER_01: So I think I definitely felt that that was the path I was going down, but obviously it then changed significantly.
• 20:58
  SPEAKER_01: But I didn't necessarily know what it would look like or how I would get there and time frames.
• 21:03
  SPEAKER_01: I think when I left from school, I didn't really envisage that it would become a whole career.
• 21:08
  SPEAKER_01: It was just kind of this was the opportunity I was taking at the time.
• 21:11
  SPEAKER_01: So yeah, it kind of evolved.
• 21:13
  SPEAKER_00: So very lucky then you're in a firm, you've been there since 18, you obviously built a really great relationship with the principal within there and huge opportunity within there, and you're very grateful for that.
• 21:23
  SPEAKER_00: Um then there was an opportunity for you to inherit a client bank.
• 21:26
  SPEAKER_00: Sounds like a dream come true.
• 21:28
  SPEAKER_01: Yes.
• 21:28
  SPEAKER_00: So open work had a route to principle.
• 21:32
  SPEAKER_01: Yes, that's right.
• 21:33
  SPEAKER_00: Yeah, tell me about route to principle then.
• 21:35
  SPEAKER_00: So you went on this route to principle course and what did that open up for you?
• 21:39
  SPEAKER_01: Yes, so the route to principle was um really I was going on there because I was planning to purchase this business.
• 21:46
  SPEAKER_00: Right.
• 21:46
  SPEAKER_00: And so not just inherit, purchase.
• 21:49
  SPEAKER_00: Yes, right.
• 21:50
  SPEAKER_01: Yeah.
• 21:50
  SPEAKER_01: So it was me um looking at with the existing owner, kind of a a a succession plan with him and how I could could buy the business.
• 21:59
  SPEAKER_01: And it kind Coincided with the first cohort that open work were running for a root to principle programme, which is helping individuals go from all different stages.
• 22:09
  SPEAKER_01: So we had lots of different people in the industry, some who were perhaps purchasing or or inheriting their parents' company, some who had kind of started from scratch and were perhaps 12 months down the line, and others like me who were looking at succession plan for a firm that they'd been at already.
• 22:27
  SPEAKER_01: So it was very much a tailored group and a tailored program to help people take that leap and you know understand the mechanics behind actually doing that and what that would entail.
• 22:40
  SPEAKER_01: And I started the program with this uh plan of succession and working out how I could purchase this business.
• 22:48
  SPEAKER_01: And then as the program went on, it allowed me to kind of look outwardly in and establish that actually I probably wanted to start on my own as opposed to you know take over the business because I could build something from scratch and it would be something that I had a bit more control over and that it would be mine, I suppose.
• 23:10
  SPEAKER_00: So that was yeah, that was kind of so you went into the roots of principle with one objective and come out of it a completely different route.
• 23:17
  SPEAKER_00: Yes.
• 23:18
  SPEAKER_00: Wow, great stuff.
• 23:19
  SPEAKER_00: So what was it in that route to principle?
• 23:20
  SPEAKER_00: What was it that kind of triggered that and got you thinking about it differently in your own business?
• 23:24
  SPEAKER_01: Um, the peer obviously the the group that we had was great because there were two others who had were 12 months ahead of me in that process, so they'd done the same thing.
• 23:33
  SPEAKER_01: So that kind of gave me the confidence to think actually I could do it.
• 23:37
  SPEAKER_01: But there was a couple of things, I think the the first couple of modules was really about your why and your vision and the culture that you want to create when you're you know running a business and your personal brand.
• 23:49
  SPEAKER_01: And I think one of the days we did a proposition on a page, and that was where I think I I thought actually I I don't have a huge amount of scope to change the current business.
• 24:01
  SPEAKER_01: And if I did it on my own, I would be able to have that control to do something of my own that that's mine and I can build from scratch.
• 24:10
  SPEAKER_01: And that felt more exciting for me at the time.
• 24:13
  SPEAKER_01: So I think I just sort of followed my gut and and decided that's what I wanted to do.
• 24:17
  SPEAKER_00: So even down to things like your own brand, right?
• 24:20
  SPEAKER_00: The company, you know, who you want to work with, how you want to be seen by others.
• 24:24
  SPEAKER_00: When you do take over somebody else's business, whether it's buying a client book or buying a client bank or even inheriting it, you are inheriting a history, aren't you?
• 24:31
  SPEAKER_01: Yes, and we I mean it was great.
• 24:33
  SPEAKER_01: We had uh it was a brilliant business and it but it was very much established, it had been running for 40 years, and and I had such a close relationship with Martin, the practice principal, it would have been very difficult for that dynamic to to change where I was then running the business and things even like the name.
• 24:50
  SPEAKER_01: I don't it would have been difficult to change the name, and again, it wouldn't necessarily have seemed right to change the name because it had a you know it was established already.
• 24:59
  SPEAKER_00: So and Martin would continue on in the business, I assume.
• 25:02
  SPEAKER_01: Yes, I think that was his objective to continue on.
• 25:05
  SPEAKER_01: So he then looked at other options and and agreed a sale within open work, and I kind of then transitioned over a 12-month period and then contracted with a new firm for two months and then sort of set up on my own.
• 25:18
  SPEAKER_01: So they were really supportive, and Martin was really supportive as well.
• 25:22
  SPEAKER_01: And I think that that kind of gave me a lot of the tools to have the confidence to set up on my own.
• 25:27
  SPEAKER_00: Yeah, I think confidence is a big word there.
• 25:29
  SPEAKER_00: I think you have to be brave to do that because you're going in there with one objective and coming out completely something else completely different.
• 25:34
  SPEAKER_00: So did you have that kind of oh no, I don't want to, I feel bad?
• 25:38
  SPEAKER_01: I did.
• 25:39
  SPEAKER_01: I felt very loyal to the existing business and I wanted it to work, but I think from both sides it probably wasn't the right thing.
• 25:46
  SPEAKER_01: So it it felt really a big responsibility, and even walking away from the clients was really hard, and I I was worried about it.
• 25:55
  SPEAKER_01: But then I think I was also really excited, and I think once I told everybody, and everybody else was very excited as well, it seemed like the right thing to do then.
• 26:04
  SPEAKER_01: So it it just was that kind of conflicting feeling at the beginning of having to tell everyone and walk away from the clients and the advisors who I I obviously you know really enjoyed working with.
• 26:15
  SPEAKER_00: So some of the cultural difficulties then.
• 26:18
  SPEAKER_00: Um borrowing the money, I guess, to buy the business.
• 26:22
  SPEAKER_00: Um, did it feel like it was the wrong time as well?
• 26:25
  SPEAKER_01: Yes, so I think that the we had had that the big change where obviously interest rates had changed.
• 26:31
  SPEAKER_01: So again, through open work, they offer the facility to to borrow the money to to purchase um businesses.
• 26:39
  SPEAKER_01: So I had the support of open work to do that, but it it felt like a big responsibility to take on because obviously I'd have a monthly um payment to kind of hang over my head and pay the existing print principal off every month.
• 26:52
  SPEAKER_01: So I think that that was another factor that sort of I was thinking about a lot.
• 26:58
  SPEAKER_00: In the route to principle was part of that building a business plan.
• 27:02
  SPEAKER_01: Yes.
• 27:02
  SPEAKER_01: So I think there was seven modules, and it was all leading towards you know, you having a business plan at the end of it that you can then integrate into your business.
• 27:14
  SPEAKER_01: And it was things like the proposition on a page, but also they I think they did a module on know your numbers and understanding just the basic, you know, the the profit margins and that sort of thing in business, and also highlighting the different hats that you'll wear as a director and you know whether you want to outsource some of that help, um, you know, because you can't necessarily take all of it on.
• 27:36
  SPEAKER_01: So that was good to kind of think about and understand, you know, what areas you'd want to do or don't want to do.
• 27:43
  SPEAKER_00: Okay, so moving on from one business where you're about to buy it, existing clients, probably not having to worry too much about going out and hunting for business.
• 27:51
  SPEAKER_01: No.
• 27:52
  SPEAKER_00: To um and probably wearing a few less hats than you would if you're running your own practice.
• 27:58
  SPEAKER_01: Yes, definitely.
• 28:00
  SPEAKER_01: Yes, I think that that was a big that was probably the biggest shift for me because I hadn't had to really look for clients.
• 28:06
  SPEAKER_01: I'd you know, we had a st an established business and referrals coming in all the while.
• 28:12
  SPEAKER_01: So that was probably the biggest change.
• 28:14
  SPEAKER_01: Then going from that to starting from scratch and having to, you know, build relationships and find clients a a different way.
• 28:22
  SPEAKER_00: So qualifications don't make the financial advisor, right?
• 28:26
  SPEAKER_00: Root to principle gives you some great theory and a great roadmap and a great blueprint, and it got you setting up your own business.
• 28:34
  SPEAKER_00: It was that good.
• 28:35
  SPEAKER_00: Okay, but what about ongoing support?
• 28:37
  SPEAKER_00: What ongoing support have you had from open work and what impact has that ongoing support had in your new venture of running your own business?
• 28:44
  SPEAKER_00: It's Pebble Rose, isn't it?
• 28:45
  SPEAKER_01: Yes, yeah, Pebble Ray as well.
• 28:47
  SPEAKER_01: So it's had a huge impact for me because we had um PDM's partnership development managers with open work.
• 28:55
  SPEAKER_01: So we had one with the Martin Cliff practice, Robin Allen, and she transferred across to me when I set up on my own.
• 29:01
  SPEAKER_01: And now I've got Range, which is great.
• 29:04
  SPEAKER_01: And Robin introduced me to a lot of local advisors within open work as well, which was brilliant for me because I've been able to chat to people and didn't feel like I was completely on my own.
• 29:15
  SPEAKER_01: But also some of them are mortgage-only advisors and have started to refer their wealth leads to me or their insurance leads, which has been a brilliant way for me to start and build just from those relationships that I've I've had.
• 29:29
  SPEAKER_01: So just kind of working with existing advisors within open work has been a brilliant support, and that was all kind of off the back of the PDMs within open work, and also they gave me a lot of support in terms of the root principle and then the supervisory support.
• 29:46
  SPEAKER_01: So, you know, having a quality manager that looks after me and makes sure that I'm on track with that side of things has been great because I don't have to worry about anything else.
• 29:55
  SPEAKER_01: Love it.
• 29:56
  SPEAKER_00: So you talk about the wearing multiple hats.
• 29:59
  SPEAKER_00: Tell me about those hats you have to wear when you run your own business.
• 30:02
  SPEAKER_01: Yes, so I think that one of the things on the route to principle was your sales hat, your advising hat, admin hat, uh marketing hat, accountancy hat, that sort of thing.
• 30:14
  SPEAKER_01: So I have tried to wear all of the hats, but it is quite difficult.
• 30:18
  SPEAKER_01: So I think I've established that sometimes something slips, and again, I I'm not a marketing expert by any means, but open work have got the marketing gateway.
• 30:28
  SPEAKER_01: So I've leaned into trying to use that a little bit, which has been great for me.
• 30:33
  SPEAKER_01: And yeah, in terms of some of the tools they're bringing in, they've got Saturnai now, which has helped me a lot because on the admin side of things, I don't have to worry about the meeting follow-ups and and writing everything down in a meeting and that sort of thing.
• 30:48
  SPEAKER_01: So I think there's lots of different tools that they provided and I've tried to lean into as much as possible.
• 30:54
  SPEAKER_01: Hopefully, as I grow and build, I'll I'll be able to kind of get a bit more support in terms of some of those hats that I don't want to wear.
• 31:01
  SPEAKER_00: So in that in that last year then of running that business on your own, how successful have you been?
• 31:07
  SPEAKER_00: Can you sort of share what AUM you might have generated within that first 12 months, for instance?
• 31:11
  SPEAKER_01: Yes, so I've generated four million of AUM.
• 31:14
  SPEAKER_01: Excellent.
• 31:15
  SPEAKER_01: And it's not been a linear process at all.
• 31:19
  SPEAKER_01: I think I've had ups and downs and moments of not really knowing what I'm doing, but um it's been brilliant.
• 31:24
  SPEAKER_01: I've not had a moment of thinking, oh, why did I do it or anything like that?
• 31:28
  SPEAKER_01: It's just hopefully growing and building, but it's been very organic growth.
• 31:33
  SPEAKER_01: I haven't um I haven't probably marketed as much as I perhaps would have wanted to, and a lot of my referrals have been word of mouth.
• 31:41
  SPEAKER_01: So I've been lucky enough to work with a an accountant and also the advisors within Open Work who have referred leads to me, and then most of it's kind of built up from there and been word of mouth from the existing client bank, which has been great for me.
• 31:56
  SPEAKER_00: So that's brilliant that you have that ecosystem of other advisors that are referring business into you.
• 32:03
  SPEAKER_00: I mean, like you know, you said you haven't really lent into the marketing.
• 32:06
  SPEAKER_00: I think often you can kind of um people look at marketing as a sort of silver bullet or something, you know.
• 32:13
  SPEAKER_00: If I, you know, if I'm on LinkedIn and I'm out there promoting myself all the time or I'm building these funnels and I'm gonna generate loads of business, right?
• 32:20
  SPEAKER_00: Marketing is a long process, like building your personal brand, building your company brand, even testing lead, you know, testing lead generation through paid-for advertising, it can be very expensive.
• 32:30
  SPEAKER_01: Yes.
• 32:30
  SPEAKER_00: And it can be very time consuming and take you away.
• 32:33
  SPEAKER_00: I think when you hear somebody who's done four million within their first year, that's not to be sniffed at, that's great.
• 32:37
  SPEAKER_00: That's really, really good.
• 32:39
  SPEAKER_00: And if you've got that ecosystem where you're generating uh referrals through trusted relationships, double down.
• 32:45
  SPEAKER_01: Yes.
• 32:46
  SPEAKER_00: You know, because that's only going to get like snowball, isn't it?
• 32:49
  SPEAKER_00: It's going to get bigger and bigger and bigger and bigger.
• 32:51
  SPEAKER_00: And as the referrals start to come from those clients that you bring in as well, it's just going to get better and better.
• 32:55
  SPEAKER_00: You know, personal introductions and referrals is still really the number one way financial planners generate business.
• 33:02
  SPEAKER_00: And then when you get it up to a standard where you know that you're comfortable and you can take your foot off, not so much off of it, but you can start to direct some of your energy and effort because you know from a security perspective, financially you're covered, then you can go and test out some other things as well at the same time.
• 33:15
  SPEAKER_01: Yes.
• 33:16
  SPEAKER_01: And I think that that's one of the thoughts that I had initially was when I was starting out, I didn't really want to turn down any business at all.
• 33:23
  SPEAKER_01: It was uh every opportunity was brilliant.
• 33:27
  SPEAKER_01: So I think as it grows and hopefully as it builds, then I can sort of cherry-pick the you know what I want to do and the the direction that I want the business to go in.
• 33:36
  SPEAKER_01: But yeah, word of mouth has been brilliant for me and it's it's great, and it's a way that I want to work because ultimately I just want to build that relationship with the client and have the trust.
• 33:44
  SPEAKER_01: And if I'm then getting referrals from existing client bank, then that's brilliant.
• 33:49
  SPEAKER_00: I love it.
• 33:50
  SPEAKER_00: When let's talk about mindset, you know, attitude, mindset, how you turn up every single day.
• 33:55
  SPEAKER_00: Describe that and what do you think works within financial planning?
• 33:59
  SPEAKER_01: I think I've tried I try to be positive, which is great.
• 34:03
  SPEAKER_01: And I think with open work and having such a brilliant infrastructure there with open work, I've tried to lean into the support as much as I can.
• 34:10
  SPEAKER_01: So I would say try to be positive and try to use the support that's out there and it you know it will come back to you.
• 34:19
  SPEAKER_00: You've got professional development, and we've talked a lot about professional development here with open work, and it sounds like you're getting some fantastic support and ongoing support, which is the key thing, right?
• 34:26
  SPEAKER_00: Yeah.
• 34:26
  SPEAKER_00: Even generating leads through the existing network.
• 34:28
  SPEAKER_00: I mean, that's that's fantastic.
• 34:30
  SPEAKER_00: What about things like personal development?
• 34:31
  SPEAKER_00: What do you do to kind of make sure that you do turn up every day and you are given your best?
• 34:37
  SPEAKER_00: What type of things do you do from a personal development perspective?
• 34:39
  SPEAKER_00: Is there anything you've done on yourself that's really elevated you in your journey?
• 34:44
  SPEAKER_01: I think I where I was with a firm previously, which was very much go into the office every day, and I was quite regimented with that.
• 34:55
  SPEAKER_01: I've sort of kept that going because I think it's really important to have a a space where you work and that you focus.
• 35:02
  SPEAKER_01: And I I don't really like working from home too much, just because I I think it separates it for a little bit for me.
• 35:09
  SPEAKER_01: So I feel like that's given me a good process and a good drive to keep going.
• 35:17
  SPEAKER_01: And yeah, I think just trying to network a little bit, keep in touch with people and not feel on my own is probably the main thing as well.
• 35:25
  SPEAKER_01: And obviously, the it the great thing about this industry is that you are speaking to clients every day anyway, so it hasn't felt like I'm I'm on my own either from that point of view when I'm just sat at the desk working.
• 35:36
  SPEAKER_00: How do you keep yourself accountable though when you start up on your own?
• 35:39
  SPEAKER_00: Because a lot of people get, you know, that's when sometimes people can kind of fall off the edge.
• 35:42
  SPEAKER_00: So, how do you keep yourself accountable?
• 35:45
  SPEAKER_01: I think I I suppose I've just I don't know.
• 35:51
  SPEAKER_00: I don't know how you pretty much answered it.
• 35:53
  SPEAKER_00: It was kind of you you built the habit, didn't you, of turning up every single day to a job.
• 35:57
  SPEAKER_01: Yeah.
• 35:57
  SPEAKER_00: And account you were accountable to someone.
• 35:59
  SPEAKER_00: Yes.
• 35:59
  SPEAKER_00: Right?
• 36:00
  SPEAKER_00: As soon as you drop that, I think, that's when it becomes a problem.
• 36:03
  SPEAKER_00: Yeah.
• 36:03
  SPEAKER_00: But you kind of didn't do that.
• 36:04
  SPEAKER_00: You didn't just go back home, sit up in your your back bedroom, set up an office there.
• 36:08
  SPEAKER_00: You what did you do?
• 36:09
  SPEAKER_00: Rent a space somewhere else?
• 36:10
  SPEAKER_01: Yeah, I've got a little office in near me, which is great.
• 36:13
  SPEAKER_01: And I think I suppose, yeah, maybe the the partnership development managers within open work, they've kept me accountable because they helped me set the targets and and kind of check in and see how I'm doing to make sure I'm on track with that.
• 36:27
  SPEAKER_01: So perhaps that's been a separate way of me keeping accountable without thinking about it, I suppose.
• 36:33
  SPEAKER_01: Yeah.
• 36:33
  SPEAKER_00: There was something you said earlier about mortgage qualification.
• 36:36
  SPEAKER_00: So what?
• 36:37
  SPEAKER_00: Are you now studying towards being a mortgage advisor?
• 36:40
  SPEAKER_01: Yes, so I've done it a little bit backwards because I had my wealth licence first, and then when I decided I was going to set up on my own, I wanted to get the mortgage licence because I thought that that would be a brilliant offering for clients.
• 36:53
  SPEAKER_01: So I did the CF6 route and then did the licensing with open work just before I set up on my own.
• 37:00
  SPEAKER_01: So I've now got the mortgage licence as well, which has been brilliant for me because, again, a lot of clients my age are perhaps looking at buying a property or buying their next property.
• 37:12
  SPEAKER_01: And I think it's a nice way to build a client bank organically and then you know, helping them with their mortgage and then the insurance, but also then accumulating that wealth.
• 37:21
  SPEAKER_01: So hopefully that will be a long-term journey with that client.
• 37:24
  SPEAKER_00: So, do you feel like it's opened up new client opportunities for you on the wealth side?
• 37:28
  SPEAKER_01: Definitely, yeah.
• 37:29
  SPEAKER_01: I think that obviously it's slightly different because they're in an accumulation phase and where they're perhaps buying a property, they don't have a huge amount of wealth to invest.
• 37:39
  SPEAKER_01: But I'm I'm happy with that because hopefully those clients will build and grow with me.
• 37:44
  SPEAKER_01: And you know, if they can start accumulating a little bit of wealth, then I can obviously help them with that, and then hopefully they'll be a a client, you know, all the way with me through my career.
• 37:54
  SPEAKER_00: Yeah, and they are younger, and there is this thing called the great transition of wealth that's happening where five trillion I think is being passed down intergenerationally.
• 38:02
  SPEAKER_01: Yes.
• 38:02
  SPEAKER_00: So it's a great opportunity.
• 38:04
  SPEAKER_00: If you start working with the sons and the the daughters of the um the parents who pretty much hold on to most of the wealth, those boomers who've got it all, then there's a great opportunity, isn't there, in the future to be to be working with them.
• 38:15
  SPEAKER_00: Do you ever ask for introductions into mum and dad?
• 38:17
  SPEAKER_01: I think I've been lucky where if I've worked with perhaps a a couple or yeah, the mum and dad, I suppose, they've then referred their children to me, which has been great.
• 38:28
  SPEAKER_01: So it's gone that way.
• 38:29
  SPEAKER_01: And then I think what I'm trying to do is is make a bit more of a family meeting.
• 38:34
  SPEAKER_01: So, yes, try and try and get a bit more of a route in to have those conversations earlier, because I think sometimes it can be a bit of a taboo with the children don't want to talk to the parents about anything, and vice versa.
• 38:47
  SPEAKER_01: And actually, when they have the conversation, everything is clear and it's easier.
• 38:51
  SPEAKER_01: And if they've got a point of contact and I can work with them both, then obviously that would be great from a succession point of view for me, instead of perhaps not having a relationship with the children, and then those clients, you know, they they don't it doesn't then pass on to the children, they might have their own advisor or they might want to do something else with with the money.
• 39:09
  SPEAKER_00: So inheritance tax planning and will writing, estate planning, all that type of stuff is a great conversation to have with anybody at this stage that they're getting a more uh mortgage or they're stying their accumulation saving, but it also opens up the conversation about mum and dad in a little bit simpler.
• 39:23
  SPEAKER_01: I think there is a huge opportunity there for that family type kind of advice and and making sure you're having the conversation first instead of when something's happened, and then in most cases, people don't really want to have the the chat at that point.
• 39:38
  SPEAKER_01: So I know Martin, who I worked with previously, he was a great lover of family meetings, and a lot of we had one particular client who was a hundred and his children were were in their 70s, so um it's then about bringing in the the grandchildren and having the conversation with them as well, so it can be really valuable to speak to them all.
• 39:58
  SPEAKER_00: Legacy planning, yes, yeah, definitely really like the name of your business, by the way, Pebble Rose.
• 40:03
  SPEAKER_01: Thank you.
• 40:03
  SPEAKER_00: So chills, yes, pebble and rose is beautiful.
• 40:06
  SPEAKER_00: My daughter's called Isabella Rose.
• 40:08
  SPEAKER_01: Oh, really?
• 40:09
  SPEAKER_01: Oh nice.
• 40:09
  SPEAKER_00: So Bella Rose, beautiful rose.
• 40:11
  SPEAKER_00: Yeah, I love it.
• 40:12
  SPEAKER_00: It's great, thank you, really, really nice.
• 40:13
  SPEAKER_00: So how come you chose Pebble Rose out of interest?
• 40:16
  SPEAKER_01: So I it's a funny story, well, not funny, but I had a black Labrador called Tommy, and his pedigree name was Pebble Bank Drummer.
• 40:24
  SPEAKER_01: So I initially wanted it to be Pebble Bank Wealth, but the FCA didn't like that because it had bank in the names.
• 40:31
  SPEAKER_01: So then I did a combination of Pebble and my name, so Pebble Rose Wealth, so which yeah, I I love it as well now.
• 40:37
  SPEAKER_01: It's it's I prefer it to Pebble Bank, I think.
• 40:40
  SPEAKER_00: So when you were thinking about setting up your own business and you made that decision, was it just a was it was it a no-brainer that you stayed with open work, or did you ever kind of consider looking out in the open market for some other businesses?
• 40:51
  SPEAKER_01: I think it was a no-brainer for me.
• 40:53
  SPEAKER_01: I I felt really confident with open work and comfortable.
• 40:57
  SPEAKER_01: I understood their systems and their processes, and I I just felt it was the right place for me to to start out, and I yeah, I still feel still feel that way.
• 41:08
  SPEAKER_01: So they they do give you so much support, and I I felt they obviously knew me as well, which was great.
• 41:14
  SPEAKER_01: So I didn't really think that I needed to look anywhere else, to be honest.
• 41:18
  SPEAKER_01: Love it.
• 41:19
  SPEAKER_00: What's the future look like for Pebble Rose?
• 41:21
  SPEAKER_01: Um, hopefully I'll be able to grow and and build and yeah, just become a really good financial advice firm that people can trust.
• 41:31
  SPEAKER_01: And I just want to pass on knowledge and and power to people and perhaps bring in an advisor, maybe a mortgage advisor that I can, you know, pass all the mortgage leads to, and then I can focus a bit more on the wealth side of things.
• 41:47
  SPEAKER_01: So yeah, I think hopefully it will just continue to build and grow.
• 41:51
  SPEAKER_00: I love it.
• 41:51
  SPEAKER_00: Have you got aspirations to sort of hire more and more and more people?
• 41:55
  SPEAKER_00: Do you see yourself, if you were to close your eyes and visualise your business in three years, what does it look like?
• 41:59
  SPEAKER_00: How much AUM have you got?
• 42:00
  SPEAKER_00: How many people are working for you?
• 42:02
  SPEAKER_00: How many families are you looking after?
• 42:03
  SPEAKER_01: Yeah, I think I would love to, it would be great to bring in maybe someone to help me on the admin side first, because I think that will allow me to then go out and do more advising.
• 42:14
  SPEAKER_01: And then, like I say, that there's an opportunity where my brother might want to come into the business, and he's he's a rugby player at the moment, but looking at his second career options.
• 42:23
  SPEAKER_01: So hopefully he can look at perhaps coming in if he wants to, if it's something he's interested in.
• 42:28
  SPEAKER_01: And I think he is interested in the mortgage side, so there's a brilliant opportunity there to work together and build something with him, and yeah, just I suppose I see it, I see it growing and building, and hopefully I'll I'll continue to grow the AUM as as much as I can and and build up a really good business.
• 42:46
  SPEAKER_00: Love it.
• 42:46
  SPEAKER_00: With all your experience of going through the process of open work and growing your business now, taking new people on, just um remind us what where are open work now going to help you do that?
• 42:57
  SPEAKER_01: So I am enrolled on a partner in for growth programme, which is the second programme from the Root Principle, and it's the first cohort again that starts in October, and that will be similar style to the Root Principle.
• 43:11
  SPEAKER_01: So it will be modules over a 12-month programme and helping me to integrate strategies for growing and really defining the direction that I want the business to go in and how I want to build it and what I want it to look like.
• 43:25
  SPEAKER_01: So that will be a really good next step for me because hopefully I'll be able to, it will be the perfect time to start planning for that, and then I can look at bringing bringing people in and building it.
• 43:36
  SPEAKER_01: And also within the internal network, within open work, there's lots of opportunity there with existing advisors who are perhaps looking at retiring and client banks that need servicing, and there's potentially an opportunity there for me to to purchase a business at some point, and by that point, I've probably been a bit more established with my own business, so it might be more um of a better time for me to do it at that point.
• 44:02
  SPEAKER_00: Fantastic.
• 44:02
  SPEAKER_00: Listen, we wish you all the best.
• 44:04
  SPEAKER_00: Thanks for watching.
• 44:05
  SPEAKER_00: I think you're gonna be an absolute success.
• 44:06
  SPEAKER_00: It's been a pleasure getting to know you.
• 44:08
  SPEAKER_00: I want to keep getting to know you and seeing how you're doing, but absolutely uh wonderful story.
• 44:12
  SPEAKER_00: Thank you so much for sharing now.
• 44:13
  SPEAKER_00: I think it'd be inspiring to a lot of people listening, especially some women.
• 44:17
  SPEAKER_00: Um, and it's just again, it's just great to hear about the open work um ecosystem, you know, that there is so much to gain from the ecosystem, whether it's training, whether it's development, whether it's you know, community, whether it's existing client books and buying up, you know.
• 44:30
  SPEAKER_00: This is an exciting time for financial planning.
• 44:32
  SPEAKER_00: And I think you are absolutely at the right age with the right attitude, and you're gonna fly.
• 44:36
  SPEAKER_00: I can see it.
• 44:37
  SPEAKER_01: Oh, thank you very much.
• 44:38
  SPEAKER_01: No, thank you for yeah, it's been great to be part of it.
• 44:40
  SPEAKER_01: So thank you very much for having me.
• 44:42
  SPEAKER_00: Thanks for sharing your financial planner life.