Updated: Jul 24
Welcome to episode 15 of the Innovating Advice show.
I’m joined by Adam Carolan, Managing Director of Xentum and co-founder of NextGen Planners in the UK.
Adam walks us through the financial services environment in the UK and the positive transition from being product-centric to advice-centric.
Then, about 23 minutes in, we dive in to Adam’s story and how Xentum transitioned from being a traditional financial planning practice to one that serves next gen clients.
If you’ve been wanting to do this in your practice or you’re looking to take on more of a leadership role, this episode is for you.
We’re talking about succession planning with actionable advice, why Xentum built the best adviser website I’ve seen, and how Adam and Rohan are propelling the profession forward through NextGen Planners.
About the financial services market in the UK, including qualification requirements and positive regulatory changes.
Why Xentum put so much effort into building the best adviser website I’ve seen.
How to transition from a traditional business to one serving younger clients.
Adam’s great advice for advisers wanting to be the succession plan and/or to take a business in a different direction.
What Adam and Rohan Sivajoti are building with NextGen Planners.
How Xentum lives their core values, especially being nextgen led.
Adam Carolan is Managing Director of Xentum, a financial planning company that specialises in working with business owners going through a transition, many of which are in their 30s and 40s. Adam himself specialises in dealing with the creative, digital and tech sectors. Adam also founded NextGen Planners, the leading independent community and training platform for the next generation of financial planners the UK.
Resources and Terminology
CISI: Chartered Institute for Securities & Investments (the CFP certification licensing body in the UK)
FCA: Financial Conduct Authority
RDR: Retail Distribution Review
MiFID II: Markets in Financial Instruments Directive