We are excited to announce the launch of rockwealth Wharfedale, a new chapter in providing dedicated financial planning services in Yorkshire. Founded by Mark Roe, rockwealth Wharfedale is strategically positioned to serve clients throughout the northern and western regions of Yorkshire. Mark shares his motivations for establishing the new branch and his aspirations to deliver tailored financial solutions that meet the unique needs of our clients in the area.
Mark, congratulations on the launch of rockwealth Wharfedale. What are your overriding thoughts on starting the new business?
I’m really excited to be up and running. As soon as I discovered rockwealth I was hugely impressed. I’ve felt for many years that the way rockwealth does things is how financial planning ought to be. It just ticked all the right boxes for me. Evidence-based investing is something I’ve believed in for some time, and I’ve always wondered why more advice firms don’t offer fixed fees. I really like the way that rockwealth works to a higher fiduciary standard of care. But, perhaps most of all, I strongly believe in life-centred financial planning. It’s not just about investments and funds or pounds and pence. It’s about what all those things are used for. It’s the plan that’s all-important. That’s the engine, if you like.
You’ve had a very interesting journey, career-wise, haven’t you? Tell us about that, and how you became a financial planner.
I qualified as a lawyer, and I worked in the legal profession throughout the early 2000s, specialising in tax. But after the global financial crisis it became clear to me that the world didn’t need as many tax lawyers as there were. The question was, what would I do instead?
Ever since I was a kid I’d had a fascination with finance. So I went to see a career change consultant, a former solicitor himself. He asked me whether I’d thought of becoming an independent financial adviser. I was worried about the reputation of IFAs, but he told me that was changing. I had this long-standing interest in finance and professional expertise in tax, so it made sense to put the two together and help people with their finances. That’s what got me into financial services.
My first experience of the industry, unfortunately, rather reinforced my perception of it. It seemed to be more about products and sales than helping people. But then I came across a firm called Manse Capital. I really liked the Manse philosophy and thoroughly enjoyed working there. But then Manse was acquired by another firm. I wasn’t happy working for the new owners, and some of my clients were unimpressed as well, so I went to work for another advice business. But, after a while, I realised that I didn’t really like the way that firm operated either, so I resigned.
Clearly, I couldn’t keep moving firms every couple of years, so I decided I really needed to sort things out. That’s how I came across rockwealth. So it hasn’t been a smooth ride. It can be very expensive having principles. But you have to be true to yourself, and I’m very happy where I’ve finally ended up.
You’re clearly very passionate about your work. What is it about financial planning that you enjoy so much?
For me, it’s all about trying to make sure that clients are living the lives they truly want. The investing piece, the funds and so on are all very interesting, but that’s really just the engine oil. As I say, the engine itself is the plan. The question is, where do you want to go?
If you look in the weekend financial press, they’re always always going on about the latest fund or the latest tax planning scheme. Those things are important, but they aren’t the be-all-and-end-all. What the client needs more than anything else is to avoid getting to the end of their life and realising that they haven’t done the one thing they really wanted to do.
I see my job as partly taking the fear of money away, and I think many people really are fearful about money. It’s also about helping clients decide on their objectives and giving them the assurance that those objectives are achievable. It’s fantastic to be able to build a financial plan and say to a client that, if they want to, they can now retire because the plan shows they can. It’s a real joy for me to watch clients visibly relax at that point, as they see how it all makes sense.
What sort of clients are you looking to attract? And, geographically, what are the areas you’ll be focusing on?
rockwealth Wharfedale will be looking to attract a broad mix of clients. They might be professionals or business owners, or they may have recently been divorced. I have a wide range of clients, and the common thread is that they all needed help, or they didn’t understand something. Most of them have an idea of what they want to achieve when they come to me, but they don’t have a plan to make it happen. They just don’t know how to get there. So it’s a very broad spectrum.
I’m looking to work with clients to the west and north of Yorkshire, and across the Dales. That said, I do have clients all over the country, including in Scotland and on the south coast of England.
Briefly, what do you and rockwealth Wharfedale offer to clients that other firms in Yorkshire don’t?
The difference between me and other advisers is that I will tell clients what they need to hear, whereas many advisers prefer to tell clients what they want to hear. There are a number of firms that just go along with what the client says they want, even if the likely outcome for the client is not very good.
My job is to provide wise financial counsel, and to warn clients of any headwinds that might be coming. I’m there to help them plan for their future and for their family’s future. And this isn’t something we just do today and forget — it’s something that has to be looked at on a regular basis.
What I also offer to clients is empathy and understanding. My father died at a young age, and he wasn’t able to achieve all the things he wanted to do. Having seen that happen to him, I don’t want it to happen to my clients. So I like to remind them that we are only on this planet once and they need to make the most of it.
Finally, Mark, how have you applied these ideas to your own life? What do you really enjoy doing? And what do you want to achieve with the rest of your life?
I take huge satisfaction in my work, so my career change and my move to rockwealth have been very much part of my plan.
I also enjoy running and keeping fit. It’s taken me all over the place — Jordan, Albania, Cambodia and Bhutan, for example. But I’d always wanted to take part in an event called the Marathon des Sable, which is running 150 miles in six days in the Moroccan Sahara. Achieving that was a real turning point; it made me think about all the other things I wanted to do, and what’s important to me. I’m hoping to do another big run over the next year or so, as long as I get fit enough!
But I still have lots of other things on my bucket list, and I like to share my dreams with my clients. I really want to encourage them to follow their own dreams while they still can.
Financial Adviser and Financial Planner in Wharfedale
rockwealth Wharfedale is a fixed-fee Independent Financial Adviser situated in Wharfedale, North Yorkshire.About Us: Nestled in Wharfedale, rockwealth is your dedicated local financial planning firm. From tailored financial advice to pension and retirement advice, evidence-based investing, and inheritance tax planning, we are here to facilitate your financial journey in Wharfedale and the broader North Yorkshire area.
Interested to work with us?: Begin your financial journey with us through an Initial Discovery Consultation, completely free of charge and without any obligation. You can visit us at our office, schedule a video call, or call us on: 0113 541 9373.