Director Tarnia Elsworth found both her professional and personal love in the financial planning profession.

‘I met my wife Annabel Lumsden, who was an adviser, and realised that being a financial planner had all the

attributes that I wanted from a career,’ she says.

They jointly set up the firm in 2019, which they decided would be community-focused, approachable and non- corporate in contrast to the firms they had previously worked for, opting to become an appointed representative of Quilter Financial Planning’s network of financial advice firms, which pre approves a select panel of funds that advisers within their network can use.

‘We had worked in a whole spectrum of different advice firm structures, from restricted with St James’s Place to directly authorised, and seen bad practices.’

‘SJP’s corporate approach, lack of flexibility towards how we market ourselves and structured our fees didn’t fit our values. The experience with an independent firm was better, but I felt that the statement of being ‘whole of market’ was a ruse, and instead they have set funds or products which they favoured.’

‘For us, Quilter Financial Planning felt like the right fit because we like the compliance and regulatory support of a network, as well as having experts to build the portfolios which leaves us to focus on our clients.’ she adds.

Through her experience, Elsworth encourages any IFAs who are thinking of starting their own firm to do so,

especially if their current firm doesn’t align with their personal values to foster a happier work-life, although she admits this comes with its challenges. ‘The most difficult part of running the business is all the hats we wear. With a smaller firm like ours, you have to be the receptionist, cleaner, IT technician and more. We’ve learned over time to outsource to other businesses which takes the stress away from us and supports our local community.’

‘Annabel and I are on the same page about most things, but when we do disagree at work, we make sure it’s all left in the office. What I most enjoy about working with my wife is that we are jointly building something

meaningful for our future and the community we work in. The best tip I have is if you’re working with your family, set boundaries from the beginning, and make sure your personal and professional life don’t overlap.’

She is also a strong advocate for a diverse range of financial advisers entering the profession, and challenging the status quo, stressing its importance in allowing a range of fresh talent to feel welcomed into the profession. ‘Be yourself, unashamedly. Our industry is crying out for people who don’t fit the mould of what an adviser looks like,’ she says ‘Differences are a strength, and I think being female, lesbian and coming from a very working-

class upbringing, it gives me different attributes and perspectives.’

‘I have a potentially more cautious view of money due to my upbringing and therefore I can empathise with clients when they feel cautious or uncertain. As advisers, we need to understand the different circumstances people from and help them through their emotions related to money.’

With this, Elsworth also believes that financial services has to undergo an intense re-education about how to

properly integrate new financial advisers, offering advice for firms about how to do this.

‘I had no reservations entering the industry as a lesbian, and haven’t experienced prejudice because of my

sexuality. However, I have seen misogynistic behaviour and think this is a position some older, male advisers

have. People think the issue has gone away, but the industry still needs to do a lot of work to set a good example for the next generation of advisers.’ ‘‘Language matters. Calling someone a lady adviser, or asking who’s secretary I am is unfortunately still

commonplace. At industry events as well, once people have a drink in them, inappropriate behaviour towards women creeps in which needs to stop.’

She also urges firms to create a culture of inclusivity through encouraging their advisers to openly share their challenges.

‘Don’t make jokes about people’s differences, and foster a culture of inclusivity through open conversation which encourages others to share as well. Don’t just look for talent in the same places because you might find someone different who excels at your firm.’ Elsworth adds.

The firm also does considerable amounts of charity work in their local community such as financial wellness

lunches for local businesses to up-skill their staff.

‘We present on important topics like pensions and debt management, and people really engage with these

sessions. We also support the work of industry charities such as MyBnk and have created informative Tiktok

videos for them to circulate to a younger audience because it is really important that they receive accurate

information from qualified professionals.’ *Tarnia and Firm do not give advice on debt management*

‘I think we have a huge responsibility to help others and share our expertise,’ she says. ‘We should want to leave a legacy that’s more than money in the bank, and we can do that through sharing our knowledge with others.