Getting to know Clarion’s Chartered Financial Planner Sam Petts

What is your role at Clarion?

I am a Chartered Financial Planner, having joined the firm nearly 6 years ago. Since 2018, I have also been a member of the Clarion Investment Committee and in 2020 was appointed to the role of chairman to oversee the monthly meetings.

You have been with Clarion for five years – what are the changes you have witnessed?

We have had a lot of new clients come through the door – which is excellent. And my team has evolved too, we have just taken on Christine Martins, in an adviser client support role to assist with day-to-day duties.

But in the years that I have been here, one thing that hasn’t changed is how people-focused the whole business is in its aim to deliver true lifelong financial planning.

What are your ambitions, both personally and for Clarion?

Good question! To make sure the business is growing as much as possible overall, making sure the investments are working as best as they can for clients and meeting their long-term objectives, so the clients are growing with us as well.

Supporting my young family with their next stage in learning, there will no doubt be exams round the corner soon and I can hopefully pass on some techniques from all the ones that I have taken over the years!

What is the most rewarding part of your role?

Clients always have certain objectives they want to reach in the next three to five years so we are making sure they are achieving what they set out to do. When every client joins us, we set certain goals in place on a financial planning document and we get great satisfaction in seeing the clients achieve those goals.

I had a client in recently to kick the tyres of his financial plan. It wasn’t a scheduled annual review meeting, but he has had quite a few changes in his life in the last month and wanted to come in to revisit the financial plan to make sure it was on track. There had been a lot of upheaval and he just needed that reassurance. He went away feeling everything was fine. It makes you go home in the evening and feel you have helped a client achieve their aims and put to bed any worries they had in their mind.

What is your area of interest in financial planning?

Prior to Clarion, my experience in the industry had been initially focused towards the investment side of things. I joined the industry as a stockbroker and Investment Manager in Mayfair, London. This role involved more day-to-day investment-related activity but over time it evolved into overall wealth management, the area I wanted to move more into.

Quite often, colleagues now will ask me about an investment idea a client has enquired about or what is going on in the markets because they may not be following them quite as closely. That is perhaps where I pride myself on a little bit of extra knowledge. And I will always enjoy chewing on the fat with Keith (Clarion Chairman) once or twice a week about what is going on in the markets.

How did you take your first steps into Financial Planning?

When I was younger, I wanted to be a Geologist or Archaeologist like Indiana Jones. I studied A-Level Geography as a result, but the Maths and Economics side won over. I followed that career path instead with a sandwich degree in Finance at Sheffield Hallam, with a year out at a financial adviser firm in London.

I joined that busy financial planning practice, also in Mayfair, following the successful work placement. They specialised in advising very high-net-worth individuals which included some celebrity clients.

How about the importance of continuing professional development?

I am a Chartered Fellow with both the Chartered Insurance Institute (CII) and Chartered Institute for Securities and Investments (CISI), so I am at the highest level in terms of industry qualifications.

We also strive to continue to learn so if there are other areas of specialism that need client work then I am always happy to sit further exams to be able to give advice in that area.

Why do clients choose Clarion?

The all-round care and attention given to our clients to ensure a great job is always done for them. We always strive to achieve the best outcomes for our clients to meet their needs.

Most of our work comes through referrals from our existing clients so there must be high levels of satisfaction in the work we do with clients. We are incredibly thorough in what we do. New clients are probably quite pleasantly surprised how much detail we go into, leaving no stone unturned.

How would you describe the archetypal Clarion client?

There is usually a trigger event, such as nearing retirement or an offer on the table for their business, which causes prospective clients to start asking friends or colleagues for recommendations. My clients tend to be in their mid to late fifties, which is where we can add a lot of value, as assets that have built up over time need reviewing. They have high levels of income, and maybe their financial dependents have flown the nest. With the excess income, they can start looking at how they are going to retire and visualise how it is all going to work with the financial plan we build for them.

Clarion also attracts those in their early-to-mid thirties who may be high earners but not necessarily asset-rich yet.

What is the biggest lesson you’ve learnt in your role?

Always put the best interests of the client first and deliver a first-class service.

After three or four years with a client, they are trusting you with everything and then the relationship really widens up on a personal level, with invitations to family events and occasions.

It is that sort of level of integration into the client’s family life that holds real value, so go out of your way for them and show you actually care.

What are your thoughts on the current economic worries?

I think they are being overplayed by the media. I tell my clients to try not to watch the news at 10pm because they will go to bed worried. You will rarely see the mainstream media report positive outcomes for the stock market. I am quite an optimist, generally. Our view on the investment committee is inflation will probably come down quite quickly in the next three to six months. In a lot of the forward-looking data we follow, it has already rolled over in the prices of a lot of areas that created the inflation. With inflation being a lagging indicator the actual rate of change from 12 months ago will probably produce some more realistic data prints.

Who has inspired you in your life and why?

My parents and family for their constant support. My parents always went out of their way to take me all over to play sport when I was younger and supporting me when I went away to university and moving down to London.

Would you rather have more money or more time?

More time! I am becoming more and more involved with my two girls’ activities outside school. They play a lot of cricket with Lindow Cricket Club so I help out when needed. For example, they did not have enough umpires at the junior level starting last season so along with a few other parents, I attended a Cheshire East Cricket Association umpire course. The more you can do the better it is!

My Monday-Friday evenings are usually spent giving lifts to various clubs. If I had more time, I would probably go out midweek with friends more!

Do you have a quote or motto that you live by?

Build it (financial plan), fund it (investment plan), stick to it (behavioural coaching). It is written on a battered old post-it note that is stuck on my desk at work and has moved round the office with me. I always refer to it when talking to clients.