Richard Tidy had always been a talented golfer. He dreamt of playing for a living and spent several years pursuing his ambitions.
But when he realised competing professionally wasn’t viable, a move into coaching and a chance meeting on the green led Richard down an entirely different career path. One which has led him to set up his own business as a financial adviser, coaching his clients in a very different way.
Changing priorities
After a short professional playing career, Richard joined a major hotel chain to provide coaching for guests staying at any one of the exclusive venues around the country. He later went on to manage the golf provision for the hotel group, looking after the commercial side of the business.
The role offered a host of benefits but involved frequent travel and time away from home.
With a young family, Richard’s priorities were changing and he began thinking in earnest about the future. He thought hard about what he wanted from his career and how he wanted to redress his work/life balance.
He took the decision to move away from the hospitality industry.
Richard comments, “I was working at these beautiful venues but was feeling exhausted and honestly fed up with the lifestyle of working in hospitality. I had young children and I was missing out. Instead of spending time with the kids I would be sat on the M6 in traffic.
“I was also beginning to think longer term. Did I want to be doing this kind of job in 10-15 years’ time?”
A meeting that changed everything
It was a chance encounter with a former golf contact which changed everything. Paolo Payne worked for St. James’s Place and they crossed paths over lunch.
Richard explains, “I told Paolo about my predicament he said, half in jest, ‘why don’t you think about financial advice? You are great with people, you’re self-motivated, you’re well connected...I think you’d be brilliant’.” He went on to tell me about the St. James’s Place Financial Adviser Academy as a route to a new career and how the process worked.”
The conversation left its mark on Richard.
“It got me thinking. I discussed it with my wife. She wasn’t keen to start with - I was the main earner in the family and it would be a risk to give up a good job and train from scratch for another. Also, I had no experience in financial advice.
“But I took a punt. We felt it was a risk worth taking. And it’s one of the best decisions I've ever made.”
Changing lanes
In January 2016, Richard enrolled at the St. James’s Place Financial Adviser Academy for what would be a solid six months of training. It was an intense programme and he had to adapt to studying once again, along with taking exams for the first time in many years. The training meant time away from the family.
He continues, “It was hard at times, there is no denying that. But seven months later on July 13th 2016 I had qualified and registered myself as a sole trader – a self-employed financial adviser under the St. James’s Place partner practice.
“I’ll never forget those first few days. Where would my clients come from? I had always envisaged setting up on my own and knew it would be a challenge. So, I did what I do best, I took my laptop down to the golf club, I set up at a table and a started talking to people.”
Richard wasn’t entirely alone in his endeavour. As well as guidance from the St James’s Place Academy on some of the practical elements of setting up a business, he also benefited from contacts made.
“The Academy prepared me well for this life. I had some phenomenal support. I was lucky to have the guidance of a St. James’s Place mentor. It turns out I had taught him golf earlier in my career. We had come full circle – it’s a relationship that has continued and we are still working together today.”
An eye on the future
Six years on and Richard now has over 300 clients on his books. The business has grown from a one-person enterprise to Richard being supported by three administration and paraplanning staff. He has also just taken on another adviser to grow the business.
Richard reflects on the journey his career has taken:
“While the connections between professional sport, coaching and becoming a financial adviser may not be obvious, there was a good deal of overlap in the skills and attributes I needed for each.
“Relationships sit at the heart of life as a financial adviser. And this is something I had always been good at – getting to know people, listening to them, building trust. I had always been very client focused, whether this was on the golf course, in the office or now advising people in their homes. It’s the same skill.
“I also built up some solid commercial experience in my time running golf for the hotel group and this put me in a good position when I came to set up a business of my own.
Richard has high hopes for the future. From being a sole trader, ‘Richard Tidy & Partners Wealth Management’ is now becoming a limited company. It is a business, which Richard hopes to provide as a legacy for his own family.
“My utopia is to be in a position where, when the time comes, I can pass this practice on to the next generation. I want to give my boys the opportunity to run the business if that’s the path they choose.
“Meanwhile, I’ll be back on the golf course!”
Asked what advice he would offer to anyone else considering financial advice as a career, Richard concludes, “It’s the best thing I’ve ever done. If you can make the change, to study and to work hard at building a business, I say go for it. There are some fantastic rewards.”
Are you considering a career switch? Discover how we can help you: Why join? | St. James’s Place Academy (sjp.co.uk)
