montage wealth management and its young brigade of staff ...star profile 10 june 2019 30...

S T A R P R O F I L E10 JUNE 2019

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You're not saving lives like a paramedic or entertaining people like a footballer but you can change people's lives for the betterChristopher Thompson Montage Wealth Management


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It is set to be a big year for Chelmsford-based Montage Wealth Management, says chief executive and managing director Peter Montague. In fact, Montage has recently been awarded with the dual titles of being a Chartered Financial Planning firm from the Chartered Insurance Institute (CII) as well as being named an Accredited Financial Planning Firm as bestowed on them by the Chartered Institute for Securities and Investment (CISI).

Montague tells New Model Adviser® only 20 wealth management firms in the UK have received the dual honour, and that Montage was only one of two discretionary portfolio managers in the country with a chartered financial analyst on staff - with chief investment officer, Scott Mordrick achieving CFA charter holder status in late 2017.

Now they are looking to add to their awards spree as three of their younger advisers enter New Model Adviser®’s Top 35 Next Generation Adviser list for 2019.

Montague says his firm was on track to become fully chartered in 2019 as his advisers and wealth managers push for higher honours. ‘We are absolutely delighted to be awarded these accreditations by the CII and CISI,' he says. 'It was imperative for us to achieve the two highest financial planning distinctions as a firm.’

AWARENESS AND EDUCATIONNew Model Adviser® spoke with Montage chief investment officer Scott Mordrick (32), wealth manager David Rule (33) and recently chartered wealth manager Christopher Thompson (33) on what it means to be chartered, client care and what the profession can do to attract new talent.

Mordrick, who featured in the Top 30 under 30 in New Model Adviser®’s sister publication Wealth Manager in both 2015 and 2016, says more needs to be done to attract younger people the profession. He also says achieving higher levels of education, such as chartered, is important but educating today’s youth on what an adviser does will attract more of the next generation to become financial advisers.

Montage Wealth Management and its young brigade of staff are striving for higher honours after

completing an impressive double


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‘It is important to have those higher qualifications,' he says. 'There needs to be more awareness of what we actually do. It is that lack of understanding that filters down to 18-year-olds that decide they would rather become an accountant or similar than an adviser.

'There needs to be more awareness and education to really let people know what we do and how we help clients.’

Thompson echoes these thoughts, saying he ‘would probably say to someone, you’re not saving lives like being a paramedic or entertaining people like a footballer’ but the profession ‘presents an opportunity for advisers to massively influence and change people’s lives for the better.’

CULTURE IS KEYAdvice has sometimes had a reputation for being ‘purely about the money’ says Thompson. But more importantly is the reward and satisfaction advisers get when they ‘realise you are helping people and building relationships,’ he says.

On the younger generation

searching for their first jobs in advice, Rule says aiming small and staying true to your values is the best option. He adds that, ‘as much as the larger firms are attractive to people,’ new advisers should look for firms that can provide a solid staff culture, more structure as well as a customer care outlook to ensure they have time to ‘do their job properly’ and be more ‘service driven’.

Mordrick agrees, saying Montage’s culture means it works on a ‘whole team approach’ and that leads to many more discussions on ‘doing what is best for the client’. He also says with ‘so many levels of experience’ within the firm, clients could benefit from a wide range of advice to suit their particular needs.

It is important to take time ensuring the client understands or asking those extra questions about their goals or circumstances.

‘When we deal with any of our clients and are going through a financial plan, we try to go over and above by providing extra services we don’t really have to offer,’ says Rule. ‘It is pro bono essentially. That adds

real value because it is purely good advice and helping the clients.’

TAKE IT FROM THE TOPScott, David and Chris all agree Montage chief Peter Montague was a big factor in pushing them towards achieving chartered status and his client-first approach helped them develop into the advisers they are today.

Mordrick says Montague and the other directors have ‘structured the business so there is nothing like the old days where you would perhaps have to push a sale or a product. It is just making sure the clients are happy.’ He says it is part of the firm’s client ethos that ‘the customer service is delivered and the client gets what they are promised.’

Aside from the fact the firm will be full chartered by year's end, Montague plans to open a second office in Hertfordshire to expand the business. As well as this, an office dog is on the cards according to Rule and Thompson, but they ‘have to get Peter on board first.’JAMES FITZGERALD


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What are the challenges of being a younger adviser?The clients tend to be older, so there is a generation gap. But it is just about trying to understand what they want, where they are in regard to their lifestyle, and get in their shoes, so to speak, which can be tricky as we are in different stages of our lives.

But once you get to know the client, age really is not that important. Once you have proven yourself, there’s trust there, it stops the doubt and age then is not an issue.

2010-PRESENT Montage Wealth Management, director and chief investment officer

2008-2010 Dart Capital, investment analyst

2011-2016 Genesis Wealth, client support executive

2009-2011 Mackay Macpherson Investment Management, paraplanner

2008-2009 Aegon UK, sales support

• Chartered Financial Analyst • Certified Financial Planner • Chartered Wealth Manager • CISI Level 7 Masters in Wealth Management • CII Diploma in Regulated Financial Planning • CISI Level 6 Diploma in Financial Planning

Currently completing Chartered Financial Planner with CII, Certificate in Equity Release, Long Term Care award and SOLLA this year.

SCOTT MORDRICKC U R R I C U L U M V I TA E

P R O F E S S I O N A L M E M B E R S H I P S / Q U A L I F I C AT I O N S

A G E : 3 2

Why was it important to achieve higher qualifications such as chartered?We get chartered and strive for higher qualifications, and that is great, but putting it into practice and applying it to the client is the most important thing. Having higher qualifications is well received by clients and prospective clients as we are a chartered firm. It stands us in good stead.

What can be done to attract younger people into advice?As a profession, you never hear people say they want to be an adviser like other professions such as being a lawyer or accountant. It is not one of the things people are aspirational about. But saying that, the reputation of advice has improved. The benefits of the work we do are beginning to be seen. But there still needs to be more education around what we do and how we help people.

Where do you see yourself in five years’ time?In five years’ time I will have brought in a graduate or two to train up to help me on the investment research side of things, grow the business and bring in some young people.

What is your client ethos?As a business, we make sure everyone knows the clients. We have a back-office system that ensures all clients have been taken care of, they have been seen recently and what their needs are. Peter has structured this business so clients are happy and the service is delivered so the clients have got what they were promised.

What were you doing before a career in financial advice?I was straight out of university while doing a few part-times jobs. I actually wanted to play poker, but I was not sure I could convince my parents of doing that after I finished my maths degree. So I finished university and got a job at a firm and then moved to being an IFA.


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2015-PRESENT Montage Wealth Management, wealth manager

2013-2015 Greenwood Financial Planning, financial planner

2010-2013 Leander Wealth, paraplanner/trainee financial planner

2008-2009 Walden Capital, trainee paraplanner and mortgage adviser


• CII Level 4 Diploma in Financial Planning • Certificate in Equity Release • Award in Long Term Care

Has taken all the exams for Chartered Financial Planner. Doing SOLLA this summer, and gaining Chartered MCSI with the Chartered Institute for Securities & Investment.

DAVID RULEC U R R I C U L U M V I TA E


A G E : 3 3

What are the challenges of being a younger adviser?The biggest thing is trust and rapport, but dealing with older or more experienced clients has not been hard. Maybe I have just been lucky. But, in saying that, we always enjoy a warm introduction to clients through portfolio manager Peter Montague. He has the relationships and has ushered us into the door so it is less challenging.

Why was it important to achieve higher qualifications such as chartered?For a lot of people, until they have actually benefited from being with us, it is perceived that advice is only for high-

end people. They just do not know they need us. Even now, unless you are saving or making people money immediately, it is hard to build that relationship. But working towards higher qualifications does help that.

What can be done to attract younger people into advice?We have changed people’s lives for the better. I know that sounds cheesy in a sense, but it is true. You have people in their early 60s, struggling to get by and doing odd jobs to earn a few quid while they are also in poor health. But, when they came to us we organised and brought together so many assets they did not even know they had. So now, they are comfortable, happier, and less stressed. That is a great example of what we can achieve as advisers.

Where do you see yourself in five years’ time?We will be beginning to take over from the other guys; it already feels like that change is happening. We are all learning, we have learnt our trade, we have done the higher qualifications. It is time to get stuck into building the business and start to build the next generation.

Who was your biggest influence?When I came into the profession, it was when I was seeing people earn a lot of money and there were certain things I wanted to do in my life. So I thought, if I get into this, I can achieve that. But soon after, I realised there was much more to it and I wanted to do actual financial planning and help people. So that is exactly what we are doing here and now.

What is your client ethos?You have to be willing to listen, it is one of my key things. The values and the morals within all of us here at Montage are hugely important. Regular client meetings are critical, equally if one of us is out, we all know the clients.

What were you doing before a career in financial advice?I was an electrician by trade before advising. I had no degree; I left school and worked in a factory. Then, I went into finance and it has all worked out.


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Currently completing Chartered Financial Planner with the Chartered Insurance Institute, Long Term Care award and SOLLA this year.

2017-PRESENT Montage Wealth Management, chartered wealth manager

2016-2017 Onvestor, senior financial adviser

2011-2016 Genesis Wealth, client support executive

2009-2011 Mackay MacphersonInvestment Management, paraplanner


• Certified Financial Planner • Chartered Wealth Manager • LIBF Level 4 Diploma for Financial Planners • CISI Level 6 Diploma in Financial Planning • Certificate in Equity Release

CHRIS THOMPSON C U R R I C U L U M V I TA E


A G E : 3 3

What are the challenges of being a younger adviser?The biggest one, when you start out, is convincing clients of your ability. Which is where having a higher level of qualification is a great way to go. If you have that behind you, there is a level of credibility. Building the trust in your ability is important. They are trusting you with all of their money, so you need to have that education.

Why was it important to achieve higher qualifications such as chartered?I see what we do as being just as important as solicitors or accountants. You cannot deliver something this complex if you do not know what you are doing. So having the highest qualifications in the industry is important. There may have been a time where you could just rely on rapport but that isn’t how things work now.

What can be done to attract younger people into advice?Some people just do not know what financial planning is. There is just not enough awareness. We need more education in schools on financial planning with more firms going out to schools and letting kids know what financial planning is. Especially at the crucial ages, where students are thinking about that career to choose.

Where do you see yourself in five years’ time?Still here. And also keeping an eye on the next generation of people that come through the business.

Who was your biggest influence?The late Sir Bobby Robson. The way he conducted himself, people management, his relationship management and the way he treated everyone fairly and equally. I sit there and think about that every time I speak to people.

What is your client ethos?The first person I worked for, when I got into a dilemma they would just say: ‘would you do that for your mum?’ and I’ve always remembered that as a reference point. Everyone here has those same morals and values. Within this firm ‘that will do’ is not good enough and there is no attitude. It is always the client first.

What were you doing before a career in financial advice?I was a recruitment consultant, and a terrible one. I was terrible because I could not lie when talking to people. I had a friend call from Nottingham who asked if I wanted to come down and join them in finance. So I came into the profession there and then.

montage wealth management and its young brigade of staff ...star profile 10 june 2019 30...

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