Paraplanner Chloe Moran was awarded ‘Paraplanner of the Year’ and ‘Rising Star of the Year’ at Professional Adviser’s inaugural New Talent Awards which took place last month.
Moran started working at Standard Life’s advice arm 1825 in February 2018, where she was a senior paraplanner. Before 1825 she worked at wealth management firm Connor Broadley, and national advice firm Tilney Group.
She has just announced that she will be joining the team at London-based Rose and North.
Adviser Points of View had a chance to catch up with Chloe Moran to ask her where it all began.
How did you get into the industry?
CM: I got into the industry by accident. Financial planning was an area, I didn’t really know existed. I started working at a financial planning firm as an office assistant through a friend of mine’s recommendation. While I was working there, the firm suggested I train to become a financial planner. So, I started doing my exams from then on.
I really like the idea of helping people plan their financial future. I studied Business Studies at Lancaster university. Prior to that I studied Business Studies A ‘Level and I got a Grade A, so I always wanted to do something in the business field.
What was the training like?
CM: With regards to training I went down the Personal Finance Society (PFS) route. I did six exams for my diploma; it took me approximately a year and a half. I then took my Chartered [qualification] and that took a bit longer. So, all in all I did about 14 exams. I studied for hundreds of hours, whilst working at a full-time job.
I did a hybrid admin/paraplanning role before moving into paraplanning. I joined Tilney in 2014. The goal from then onwards was to be a financial planner. To be the one giving advice and to be in a client-facing role.
What advice would you give others looking to become a financial adviser?
CM: If you want to succeed you really have to work at it. It is definitely do-able. It is really a rewarding career. We need to be doing more to encourage university leavers and school leavers to learn about the industry. More needs to be done to educate people about financial planning. For example, it really helps to talk to someone like a financial planner in the run up to retirement, and at the moment financial advisers have a ‘bad rep’ due to the scandals that have happened in the past.
Does the industry need more financial advisers?
CM: I think there needs to be more advisers. I think to have a diverse workforce not just with gender, but age, and social backgrounds will help. Diversity brings fresh ideas, and I think that is something the industry really needs. The industry definitely needs more young people and more women. I think recently it was announced that women made up 30% of the latest PFS graduate cohort, so it is getting better, however.