Samantha Wood: What being a financial adviser means to me

You started your career in the military. How did you end up in financial advice? 

I signed up for the military when I turned 16 and worked my way up the ranks, from soldier, to officer and then captain. But after 10 years, I started to feel like there was something else out there for me. I didn’t know what that was at the time, but I knew I wanted a change.  

A chance encounter at a networking event ultimately led to my first role in investment management and that was my foot in the door.  
But the move to striking out on my own as a financial adviser with my own business was more of a chosen path. The pandemic was the trigger for me to re-evaluate my situation. I was in a senior leadership position at the time, but I wanted more flexibility and autonomy around my lifestyle. That’s when I started having conversations with St. James’s Place (SJP) to see what my options were.  

What do you enjoy about being a financial adviser? 

I like the fact I’m making money and finance the thing my clients don’t have to worry about. We all have stress, but if I can take that weight from my clients, ease the burden and even get them excited about what their financial plan is going to do for them, that’s what excites me.  

“I love the freedom of the role. My business can evolve to reflect how my lifestyle is changing. It’s not static, it can grow with you.”

I also love the freedom of the role. My children were aged 10 and 12 when I started my practice so having flexibility in my working day was a priority for me. I wanted to be able to wake up, go to the gym, do the school run and not work on weekends. And I can. As my teens get older, my business can evolve to reflect how my lifestyle is changing. It’s not static, it can grow with you.  

How did you go about building your business? 

When I started, I thought carefully about where my space would be in this market? And the key for me is relatability. I’m a woman, a mother, a business owner and ex-military. So, I built my client base around people I can empathise with and understand because they reflect my own experiences.  I have many female clients who are in their mid-40s with teenagers so I can relate to them as we’re going through similar things at similar times. We talk about the kids, exams and the struggle of juggling it all. They almost become like friends.  

“As an officer at Sandhurst I had to learn to communicate with people from different backgrounds and that’s a vital skill to have as an adviser. “

I work with a lot of business owners and military veterans too. I really understand how to holistically advise those clients across all aspects of their finances, from pension planning to protection, because I’ve had to do it myself.  

Do you think your military background has played a role in your success as a business owner? 

Absolutely, 100% yes. In the early days of my business, I had to be very disciplined and proactive. I constantly thought about what I needed to be doing and learning to grow.  In the army, we used to say, ‘proper planning and preparation prevents poor performance’. Having that routine and focus on preparation has really helped me in setting the foundations for my financial advice business. 

I developed transferable skills during my time in the military, especially around communication. When I was an officer at Sandhurst, I was surrounded by people from different backgrounds to mine. They had been to university and had grown up in wealthier families. Whereas I’m from a working-class background. I had to learn how to communicate with people from different backgrounds and that’s a vital skill to have as an adviser.

What would your advice be to other women considering a career change?  

Create a plan. Think about what an ideal day or week looks like for you. Choose your goals and work backwards. For me, autonomy was crucial, and having my own financial advice business has provided that.  
Don’t be daunted by the technical side of things. Yes, you have to do exams, but people assume it’s more complicated than it is and that it’s all about the numbers. In fact, I spend most of my days talking to clients about their lives and goals. That’s the main skill, being able to build relationships with people.  

Talk to others who have done it. We need more women advisers! And there are plenty who will happily share their experiences and their journey. That can be the biggest inspiration. When I see other women who have made it happen for themselves that spurs me on.  

Find out more about the opportunity here at the St James’s Place Academy.