I encountered quite a culture shock when arriving at the small family-run business of Chapters Financial Limited in the leafy market town of Guildford, having been City based before. I have been in the Financial Services industry for around 10 years, eight of these in central London, and it is has been a breath of fresh air to work at Chapters Financial Limited for the last four months.
Firstly, it is a joy to arrive at my desk within 20 minutes after leaving my front door rather than a 10 minute walk to the station, 45 minutes on a packed commuter train and half an hour (if things were running smoothly) of fighting my way through the London tube network. It certainly sets you up for a much happier and more productive day!
The ethics of this small Independent Financial Adviser (IFA) office are entirely contrasting to that of a large organisation and I have discovered this on a daily basis since working at Chapters Financial. My foremost observation is trust between client and company. Keith Churchouse, owner and Director of Chapters Financial, has a thorough understanding and knowledge of his clients and establishes an important and continuing relationship with each one. He knows far more about his clients than any adviser I have previously worked with, and this gives him a competitive advantage. Clients learn to trust honourable IFA’s and remain loyal to them, even during difficult economic periods.
Loyalty is a valuable commodity in the financial services industry and results in a low exit rate of clientele. Chapters Financial sees a steady increase in client numbers, usually approaching the company through word-of-mouth or the Chapters Financial website, with minimal clients leaving to go to competitors. Contrasting this, large organisations see a particularly high turnover of clients, many being enticed by the aspiration to increase their fortune, but comparable numbers being tempted away by more lucrative deals with rival organisations.
Many global organisations these days believe that their primary and only responsibility of business is to make money whilst abiding by the law. This clearly benefits the shareholders. However, working at Chapters Financial has shown me that businesses should benefit all their stakeholders – clients, providers, employees and their families, and the community within which the business operates. Chapters Financial are greatly involved in community matters and not a week goes by without Keith attending one of his many local Business Forum meetings. Many more large organisations are becoming involved in community matters in these times of increasing ethical standards, but they cannot get involved to such a degree as the smaller companies can. Being involved to such an extent as Chapters Financial is, lends itself to further trust and recognition from employees and local business people alike.
Although it has taken a few months to adjust to the small business working life, it has been a journey of discovery, an eye-opener and a sharp personal learning curve. My opinion of Financial Advisers has most definitely done a u-turn; financial advice is not about selling a product but about finding the most appropriate financial planning based solution to suit the clients’ needs. A simple concept but one that, unfortunately, is not widely used in financial services today.
Suzie Harrowing is a Para-Planner with Chapters Financial Limited. This is a non-advisory role.
If you would like to consider your future financial planning further then please contact Chapters Financial Limited through this website or by telephone on 01483 578800.
No individual advice has been provided in the text of this blog and you should seek individual independent financial advice for your own circumstances.
Chapters Financial Limited is Authorised and Regulated by the Financial Services Authority. Number 402899
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