Can you name one to three things that you would have liked more help or advice on when you first started out?
Clarke explained there was a need for more training in terms of the engagement with clients as opposed to just fact finding skills.
“Everything’s tailored to the textbook. But there needs to be more training around listening to what clients actually need."
“It's more about softer engagement with clients who understand what they want.”
When Clarke first started out he said there were no adviser academies around to help with becoming an adviser.
But nowadays many people go through the paraplanning route first, whereas he went straight to become an adviser.
What would you say are the biggest challenges facing those starting out today?
“Regulation and PII costs,” he said. “Fortunately, I've not done DB transfers but I know the cost for firms just continues to go up which you can appreciate because of the risk.”
Clarke explained that regulation, even for small firms, is going to increase fees substantially and that could add risks to those businesses.
“That’s the reason for myself taking the baby steps with Clarke and Co to grow organically,” he said.
Lastly, what is the one book that you'd recommend to anyone considering a career as a financial adviser?
“The Chimp Paradox because I'm very much into sport and that mindset, which is necessary to have especially being a business owner,” he said.
He explained it is about having the belief and confidence to do things and that is key in the early years of advising.
If you own your own advice firm and would like to get involved with the Coffee Corner interview series, contact deputy news editor Sonia Rach via email at sonia.rach@ft.com
