From Restricted Adviser to Independent Financial Planner

Aug 10, 2023

Lee Quinn, former Trainee-Paraplanner turned Independent Financial Planner, shares his career journey from compliance to financial planning. He discusses the differences between working as a restricted adviser and an independent financial adviser (IFA) and emphasizes the benefits of being an IFA, including a more holistic approach and stronger client relationships. The chapter also explores the role of power planners in the financial planning industry and the challenges faced by independent financial advisors.

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Introduction

00:00 • 2min

A Journey to Contentment in Financial Planning

01:51 • 2min

Transitioning from Compliance to Financial Planning

04:06 • 24min

Transitioning from Restricted to Independent Financial Adviser

28:36 • 16min

Building Relationships with Recruitment Consultants

44:19 • 5min

Key Questions for a Financial Planning Interview

49:38 • 6min

Exploring the Role and Career Progression of Power Planners in the Financial Planning Industry

55:44 • 3min

Learning Curves as an Independent Financial Advisor

58:47 • 9min

Lee Quinn, IFA at Alexander Grace. Lee’s career route began in typical fashion, starting as a Trainee-Paraplanner before being made redundant as a result of the 2008 Financial Crash, where he became interested in pursuing a career in Financial Advice.

Through feedback from those around him, along with some self-analysis, Lee decided that personally he hadn’t had enough working life experience to step up into advice at this stage, and so focused his efforts toward developing his Financial Services knowledge and experience from within a Compliance role.

Lee talks us through how his thinking matured over time, how different life experiences helped his client facing ability as an adviser, and how leaning into mentors and management helped aid his career development both in the lead up to becoming an adviser and beyond.

00:00:00 | Intro

00:02:03 | Lee's Career Journey

00:05:08 | Trainee Paraplanner to Compliance

00:13:26 | Life Experience/Skills

00:17:35 | Honest Feedback & Mentoring

00:28:34 | Working in Restricted

00:36:37 | Working in an IFA

00:41:54 | Finding the Right Role

00:55:44 | Career Progression

00:58:47 | IFA Learning Curve

01:04:41 | Client Niche

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