But he is relaxed about this, saying that the key is to have a “holistic” approach. “I have experience of doing this quite a few times in the past,” he says.
“The key is to talk to the adviser, not just around money but about their personal development goals, and see if we can help with that and with vocational training. I think with those sorts of things there are always likely to be more opportunities in bigger companies.”
Howlett continues: “Make no mistake, Liberate Wealth is a for-profit venture. But just as at EQ, I want it to reflect what I believe in, and one of those things is social mobility. I hope that is reflected in the academy, and that it attracts people who might otherwise not be in this industry, including career changers as well.”
Regulation and consolidation have upended the business models of advice companies in recent years. Many industry participants have focused on robo-advisers to be the next generation of winners, but it may be Howlett’s simpler approach that triumphs in the end.
David Thorpe is investment editor at FTAdviser
