Not all routes into a career in finance are the same. Graduates of St. James’s Place Financial Adviser Academy are proving that diverse backgrounds are helping to move the dial and in effect, will make financial advice accessible to even more people.

Zac Cambourne started his own financial advice practice after graduating from St. James’s Place Financial Adviser Academy, but his career journey was not a traditional one. Zac was at a point in his life when he needed a change in direction. He explains, “I spent 15 years as a primary school teacher - a job I loved. But becoming a father in 2016 made me realise that as long as I was a teacher, I would miss picking my children up from school and wouldn’t be present at their Easter or Christmas services or assemblies. Your life and priorities change when you become a parent, and sometimes your job needs to as well. So shortly after we had our daughter I took the difficult decision to leave teaching.”

Valuable career advice
Zac was already seeking financial advice from a St. James’s Place adviser, and they had a good rapport. Whilst discussing Zac’s situation, it wasn’t long before his adviser was also offering career advice. He pointed him in the direction of the St. James’s Place Financial Adviser Academy and Zac went to several events to find out more and to make sure that it would be a good fit. He wanted to make sure that he went into this new industry with his eyes wide open.

Zac undertook a six-month programme at St. James’s Place Financial Adviser Academy where he achieved his level 4 Diploma in Regulated Financial Planning, built up his technical knowledge and advisory skills as well as how to build a sustainable business. He graduated in 2017 and set up his own practice with the backing of St. James’s Place.

Discovering key attributes
Zac explains, “As a teacher I was used to speaking to parents, often it was around sensitive and important issues, I needed to be able to think on my feet and answer challenging questions. In contrast, I spent a lot of time speaking to 10 and 11-year-olds and would take an interest in football or current affairs so that I could chat to them on their level. It was about being able to adapt to the situation.

“I discovered that the experience gained through my years of teaching would be put into practice in a way I could not have imagined as a financial adviser. You need to gain your client’s complete trust. But first, you need to build a relationship with them, a rapport. The ability to make people feel at ease can’t be underestimated. Building rapport means different things to different people, it’s a skill. It starts with listening and understanding where they are coming from.”

Starting a new business is a huge learning curve
Zac admits that setting up a new business is a huge learning curve. He comments, “Working within the public sector you are quite sheltered from a lot of the operational things that happen behind the scenes. Moving to the private sector, I was suddenly working without a timetable and needing to make difficult decisions quickly – how would I market the business? How could I best manage my time?

“This became a real driver for me. While there was an element of the unknown, I found it motivated me. What did surprise me was how emotionally invested I would become. It is my business, and it’s within my control to make it a success.

“I couldn’t have got where I am today without the support network that I had, not only from the St. James’s Place Academy itself but also the cohort that I graduated with, they were indispensable. We are in contact regularly and meet several times a year and they have become a sounding board and even a lifeline in the early stages of the business. The experience has been hugely valuable and will continue to be important as my business progresses.”

Work life balance
Zac is continuing his professional training alongside running his business and has also recently hired some admin support to help him manage meetings and organise referrals and correspondence. In his personal life, he has also applied to be a governor at his 5 year old daughter’s school. This means that he can now attend observations, or a recruitment day as required and still fit his work in around it.

A big leap of faith
Zac explains, “Starting my own financial advice business has allowed me to build the life that I want around my family. It’s important for me to be there for my children when I’m needed most. I can now say yes to school trips and be involved in my daughter’s school life. But I also have a business that I can grow at my own pace. Of course, you need to be able to pay the bills, but my advice to anyone is that life is too short to be doing a job that doesn’t work for you or fit your lifestyle. After all, you can work a lifetime in a job that doesn’t make you happy or you can make a change. Looking back, it was a monumental decision to leave teaching and pursue financial advice, but it was absolutely the right decision.”