What attracted you to financial advice?
When she was just 11 years old, Romany accompanied her father Damian Youell, an experienced mortgage broker, to occasional client meetings.
“Growing up I saw my dad go from nothing to building a successful practice that’s now thriving in the industry,” she says.
Something sparked from these early experiences. Fast forward seven years and Romany was studying at Quilter’s renowned Financial Adviser School. She passed both the level 4 Diploma in Financial Advice, and the Certificate in Mortgage Advice and Practice (CeMAP) with flying colours.
“I completed the first CeMAP module on my own and the final two with Quilter. Then completed the Level 4 Diploma with them. Some of the exams were quite difficult, but the support of Quilter made a huge difference,” she says.
Further qualifications, such as Chartered Financial Planner status, are very much on Romany’s radar. Late last year, she completed a qualification in equity release to support consumers’ growing interest in the area.
How have you found the role so far?
Now Romany has joined her father, spearheading the financial planning arm for his firm,
needingadvice.co.uk.
The early stages of a career in advice can be daunting, and understandably so – there's lots to not only learn but also apply. But Romany is fortunate to work alongside many experienced colleagues. Needingadvice.co.uk is an appointed representative of Hampshire-based Rosemount Financial Solutions (IFA) Ltd, and this relationship is proving particularly helpful to Romany as she hones her skills.
“Rosemount has advisers with decades’ experience and knowledge, which I can tap into should a client’s circumstances be particularly unusual.”
How can the profession improve?
The lack of financial education in schools is a big industry talking point, and one that Romany feels needs to change.
““I learned nothing about finance in school, which explains why people struggle to think about their long-term future when they start earning money. If children were taught about taxes and mortgages and other basic financial principles it would make a difference. I also think people would see the value of advice because they’d understand more about it.”
A further problem is the lack of diversity in advice roles. Given the average age of a financial adviser in the UK is believed to be in the mid-to-late 50s, it was natural for Romany to fear her youthfulness might prove a barrier in the early years. But she’s been pleasantly surprised.
“I did wonder whether people would think I’m too young to be a financial adviser. But from the first conversation I had with my first client, it was clear to them I had their best interests at heart.”
The lack of diversity within advice isn’t solely about age - gender split presents a further problem. Recent data from the Financial Conduct Authority found that only 16 per cent of advisers are female . Romany believes that for this to change, better representation in the media is needed.
“The main thing is showing women that there is a place for them in the profession and they can thrive at the same time,” she says.
Romany is proud to have her success recognised by Unbiased’s Adviser Appreciation scheme. She hopes her story will encourage other women to take up a career in financial advice.
