Why we chose careers in Financial Planning

Tuesday, 23 July 2013 16:05

Two graduates, Jonny Molloy from 1st Chartered Financial Planning and Lewis Benson from Partners Wealth Management, share their stories of why they chose a career in Financial Planning.

I discovered Financial Planning while I was at Manchester Metropolitan University studying Business Studies. While researching for a 12-month work placement as part of my course, I had the opportunity to speak with several Financial Planners and it was at this point I realised that is what I wanted to do. Being quite technically-minded, it made sense for me to pursue a problem-solving role. I also enjoy the client-facing element and helping people to make sense of their finances.
I feel that my Business Studies degree gave me a well-rounded view of business. This involved some marketing, accounting, strategy and management theory. In my final year I decided to focus on finance-based options that would complement my future career including:
Personal Financial Planning Corporate Financial Management Financial Markets and Institutions
At the same time, I began studying for my professional qualifications (CertFP).
I was also selected to take part in the pilot of Aviva's Future Adviser Programme which began in 2009. This internship gave me a brilliant insight into the industry and motivated me to pursue my ambition to become a Financial Planner.
After finishing the Aviva Future Adviser Programme, I knew that my learning had only just begun. I carefully researched Financial Planning firms that were innovative and forward-thinking. Whilst Sylvia Bentham, (managing director & Financial Planner at 1st Chartered Financial Planning in Chorley, Cheshire) was not looking to hire anyone at the time, she believed I would fit in well with the team and company ethos. The client-focused "no-nonsense" culture at 1st Chartered Financial Planning really appealed to me. In addition, Sylvia was an obvious mentor to guide my professional development as she is both chartered and Certified Financial Planner.
I started work at 1st Chartered in November 2009 and mainly work as a Paraplanner but I have also started my training to become a Financial Planner.
It has been quite a steep learning curve, especially to begin with. Since starting here, I have completed the Certificate & Diploma in Financial Planning. I am also working my way through the Advanced Diploma exams and Certified Financial Planner certification. I think that Financial Planning is a very rewarding profession to be involved in and feel that we're going through an exciting period in the industry. It is very satisfying to help clients to achieve their goals or just help them stop worrying about their financial future.

Jonny Molloy is a client relationship manager at Accredited Financial Planning Firm^TM 1st Chartered Financial Planning. He graduated from Manchester Metropolitan University in 2009 with a degree in Business Studies.

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"What is Financial Planning, Lewis?" This is a question I receive all too often from friends when asked about my career aspirations. I explain to my friends that it is about helping people define their goals and working with them to create a plan, which enables them to achieve their ambitions and help them make decisions with their money. It is also a job where on a daily basis I would be meeting new people and working with other professionals, such as lawyers and accountants to provide a complete service.
The Bank of England's Monetary Policy Committee has kept the base rate at 0.5 per cent for over four years, if there is anytime an individual with a reasonable amount of money can afford to be more creative with their investments, now is the time and a Financial Planner can make that happen.
One of the reasons I want to become a Financial Planner is because it's a career, not just a job, you're learning all the time. You're meeting people from all walks of life and everyday is different. I also enjoy the more technical aspects of the job, looking at different investment funds and understanding the funds objectives and returns as well as the level of risk that is being taken to achieve those returns. I have been fortunate enough to secure a job with Partners Wealth Management, a leading firm in the heart of the City. I will be working as a sales support administrator, with an element of Paraplanning to support their advisers. Functions will include client cash flow modelling and assist in putting together Suitability Letters/Reports.
The application process was straightforward, I saw the position advertised in an email from IFA Online Jobs and spoke to a recruitment consultant who informed me about the role. There was initial concern over my lack of experience, but my CV showed my determination to become a Financial Planner from my one-year placement at Mazars Financial Planning and six-week internship at Aviva, having won the gold award for their Future Adviser Programme. The first interview went really well and I was therefore invited for a second, where I came away optimistic, feeling that I had impressed them. Then the good news came a couple of days later, during an exam at university, when I received a voicemail from the managing director offering me the position!

Lewis Benson graduated in 2013 from Sheffield Hallam University with a degree in Business and Financial Services. He recently started work with Partners Wealth Management in the City.