The number of opportunities for second careerists are rising as many financial advisers have come from sports, military and armed forces backgrounds.
Firms like Kingswood, Openwork and St James’s Place (SJP) have previously stated their strategy to attract people from different demographics to join the advice sector.
Kieran Bywater, financial adviser at Henning Wealth Management, is an ex-footballer who decided to turn to financial advice after his sporting career ended.
He spent 10 years at West Ham United, with four years as a young professional footballer at the Premier League club. Bywater moved to the US to join Chattanooga FC and spent two years at the club.
During his time in the States, he studied business at the University of Charleston. When he came back to the UK, he joined the SJP academy to become a financial adviser.
Transition
To move from football to financial advice is a common transition but every adviser has a different reason for the career change.
Bywater told International Adviser: “After experiencing first-hand how difficult transition out of football was, I wanted to help players plan now for their lives after football.
“From my time playing, I noticed that everybody was a lot older giving advice. This is why I saw it as a fantastic opportunity as I am in my mid-twenties so I can relate to many footballers both from experience and similar life phase.
“I had the opportunity to go through training at the SJP academy which was something I was grateful for.”
The ex-footballer gained a lot of skills during his sporting career, and some can be transferred into his job as an adviser.
“The key for players is realising what drives them and what might be the right fit for them,” Bywater added. “The skills that are transferable are things such as communication, resilience and self-reflection.
“These are three skills which I have definitely utilised so far.”
Surprises
The financial advice world is completely different to football and moving from the two sectors can be difficult.
IA asked Bywater if he was surprised by anything since becoming an adviser.
“The size of the books,” Bywater said. “To go into a completely new career for me was difficult, I found studying difficult. I am someone who learns from experience and observing.
“My skills and knowledge as an adviser have improved drastically ever since I qualified.”
In a message to future second careerists joining the financial advice space, Bywater said to “stick at it”.
He added: “There are many that flew through exams but fell at the first hurdle when starting their new career. You have to stay true to yourself throughout and remember the reasons why you started in the first place.
“If your why is strong enough, then you will get through the exams and get through the unknown when transitioning into a new career.”
