Reflecting on the Journey: Building from the Ground Up
Robert Lewis
Shaping Financial Success & Community Futures | Chartered IFA & Founder of Celtic Financial | Charity Trustee & Business Mentor
Just over five years ago, we embarked on an ambitious journey to establish Celtic Financial Planning Ltd , a financial advisory practice that was fundamentally committed to prioritising our clients' needs, had a positive impact on the local community and environment, while creating a business environment where we ourselves were excited to work. This journey, marked by its highs and lows, has been anything but straightforward, especially with the unforeseen challenges posed by a global pandemic. Yet, it's the reflection on these challenges that truly encapsulates the essence of starting and nurturing a small independent financial adviser (IFA) firm.
In the early days, my role was far from being limited to that of a financial adviser. I found myself juggling an array of responsibilities that spanned across:
Each role, while demanding, was instrumental in laying the foundation of our practice.
The path of an entrepreneur, particularly in the financial advisory sector, is fraught with challenges. The initial phase of our journey saw us dedicating over 100 hours a week, working tirelessly seven days a week, and even dipping into our savings for over six months to keep the business afloat. Despite these hardships, this period was also incredibly rewarding. Every small victory felt monumental, propelling us forward and affirming our resolve to not just survive, but thrive.
What has been particularly transformative over the years is the gradual process of delegating and eliminating roles that were less aligned with my core competencies. This deliberate reorganisation allowed me to concentrate more on areas where I could contribute most effectively and regain a semblance of work-life balance. It underscored the importance of playing to one's strengths and the strategic value of team building in achieving business growth.
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One of the most compelling aspects of our journey has been the reaffirmation of our initial ethos—putting clients first. This principle has not only been a cornerstone of our practice but also a significant growth driver. It's a testament to the value of persistence, dedication, and vision in the face of adversity.
Looking back, the challenges of managing a small IFA firm were daunting, yet they were also a source of invaluable lessons and personal growth. The journey taught us the essence of resilience, the importance of adaptability, and the joy of achieving what once seemed insurmountable.
In my opinion, the financial advisory landscape is in dire need of more small IFAs to offer clients choice and foster healthy competition. The journey of building and scaling a firm is undoubtedly challenging, filled with uncertainties, and requires wearing multiple hats. However, it also presents an opportunity to create something meaningful, a practice where one is truly passionate about working.
As I reflect on the past five years, I am reminded of the countless sacrifices made along the way. Yet, I firmly believe that pushing through the barriers was worth every effort. Building Celtic Financial has not only been a professional achievement but a deeply personal one.
To those contemplating this journey, the road may seem daunting with its myriad of challenges and responsibilities. Yet, looking beyond the immediate hurdles to focus on building a firm that aligns with your values and aspirations can be one of the most rewarding experiences. For me, Celtic Financial's journey is a testament to the power of resilience, the importance of adaptability, and the profound impact of staying true to one's ethos. It's a reminder that, despite the odds, building a business you're passionate about is not only possible but immensely fulfilling.