How to set up your own financial planning business

Welcome to the first episode of 2024! And what a fantastic episode to get us going! Calum Scott, Financial Planner and Director of Libertas Financial Management joins Sam Oakes on this step-by-step journey of an episode.  We were really fortunate to talk to Calum, his story is certainly inspiring. He walks us through the process of setting up his IFA business, Libertas Financial Management, along with his two business partners. Now in the third year of Calum’s journey with Libertas, we learn about his thought process behind the decision making, how he planned for a thriving business and how he generates meaningful leads. From his early days as a sports enthusiast and recipient of a Sports Studies and Marketing scholarship at the University of Sterling to now being the owner of his own company, Calum stands as a shining example of a dedicated and passionate financial planning entrepreneur. Hope you enjoy. 00:00:00 | Intro 00:01:48 | Callum’s career journey 00:08:36 | The first role you should take in Financial Planning 00:10:41 | The transferable value of sales skills 00:14:02 | Restricted vs IFA 00:17:07 | Year 1 going self employed 00:22:18 | Where to start when going self employed 00:26:16 | Deciding remuneration 00:32:38 | Client acquisition 00:36:33 | The easy approach to financial advice 00:41:54 | Vital questions for vital answers 00:48:15 | Converting first meetings into paying clients 00:52:30 | Fintech 00:59:19 | How to find best practices for your business 01:03:59 | Why build a financial advice business? Financial Planner Life is sponsored by Redmill AdvanceWhether you're starting out, already qualified, or building a training academy, Redmill Advance delivers expert-led learning, exam support and CPD from Level 4 to Chartered.✅ Trusted by top UK firms👉 www.redmilladvance.com/fplBe sure to follow Financial Planner Life on YouTube for extra content about  career development within Financial Planning. Reach out to [email protected] in regards to sponsorship, partnerships, videography or podcast production. Want to appear on the Financial Planner Life podcast? Drop Sam a message.