From his early days at Coventry University, Matthew's career trajectory was clearly inclined towards finance, a path nurtured by familial influences and a strong academic foundation. His pursuit of a finance degree which he completed in 2019 was encompassed critical disciplines such as accountancy, economics, and notably, financial planning. It was the latter, with its focus on wealth management and crafting bespoke client solutions, that particularly piqued Matthew's interest.
The opportunity to integrate academic learning with practical experience came in the form of a sandwich year at a St. James's Place advice firm in Lingfield. This placement was instrumental, providing Matthew with invaluable insights and hands-on experience in a business administrative role, which he later elevated to a technical support and paraplanning capacity upon his return to the practice post-graduation.
Transition to Financial Advice
Post-university, Matthew's transition was seamless yet impactful. Returning to the practice as a full-time paraplanner, he pursued and achieved his Level 4 Financial Advice qualification with the Chartered Insurance Institute, setting the stage for his advancement to a qualified adviser. He progressed through the St. James's Place Financial Adviser Academy where he benefited from being within a cohort of other trainee advisers and access to a development manager.
By 2023, the natural progression of his career saw him establishing Davis-Skeggs Wealth Management, becoming a business owner of his own financial advice firm, aged 25, a testament to his dedication and foundation laid during his initial years in the profession.
Reflective Insights
Matthew credits his ascent to a dedication to networking, which has proved to be the most effective strategy for business development and client acquisition. His approach to continuous learning, focusing on the rationale behind financial strategies and their intended outcomes, has further cemented his reputation as a trusted adviser.
Overcoming Challenges
The path was not without its hurdles; Matthew faced the daunting challenge of managing a growing client base alongside the administrative demands that such growth entails. The strategic decision to onboard administrative support early on was crucial, enabling him to concentrate on client interactions and strategic advice, which are the cornerstones of his business ethos.
Rewarding Experiences
The tangible impact of financial advice on clients' lives remains the most gratifying aspect of Matthew's role. A particularly memorable instance was advising a couple who believed retirement was beyond their reach, only to discover through his planning that they could comfortably retire within two years. This profound impact was highlighted when he saw the couple embrace in delight outside of his office before leaving.
Forward-Looking Advice
Matthew advocates for a robust work ethic and proactive engagement in continuous professional development for those new to the sector. He challenges the misconception that financial planning is reserved for the affluent, promoting the profession's relevance across various economic demographics.
In the next five years, Matthew envisions significant growth for his practice, with ambitions to expand his team and enhance his service offerings to meet the diverse needs of a broader client base.
Concluding Thoughts
Reflecting on his journey, Matthew remains proud of his achievements and the path he has charted. His advice to new financial planners is to embrace hard work, leverage support from those around you, and actively participate in the community to build a successful career in this dynamic industry.
Want to discover how others successfully transitioned into financial advice? Visit our 'our stories' page to read their journeys.