Press: Meet the new firm, New Model Adviser at Citywire
Many thanks to Ashley Thomas-Walsh DipPFS for the profile on Adam Walkom in New Model Adviser this month…
Meet the new firm: ‘Our clients don’t browse Twitter all day. We’re there when they look up’
Permanent Wealth Partners’ Adam Walkom says the firm is staying true to its abiding principle of putting clients first and ensuring they feel financial peace.
‘There was never really a pitch, we just talked it through and agreed we have a lot more in common than just being Aussies – and bald,’ says Adam Walkom (pictured), founder of Chiswick-based Permanent Wealth Partners, of his now business partner Adrian Johnson.
Walkom had been planning to go it alone, but instead started his firm in 2020 with Johnson, who was in training at the time. After years spent working for hedge funds and in a consultancy, Johnson had been looking for a new direction. He is now a fully qualified adviser and focuses on bringing new clients into the business.
‘He has a lot of background knowledge, which makes our business stronger,’ says Walkom.
The firm opened for business last May, and Walkom was determined to do things a little differently. While there was nothing wrong with the direction the company he had previously been working for was heading in, he felt he could service his clients in a more personal way.
‘We wanted to focus on our niche – City and entrepreneurial professionals ranging from 30 to 50 years old. Our clients are people like us, so we understand the careful and personal approach they need. For this type of client, we want to be the obvious choice.’
Walkom says that time pressures are huge when working with his clients, as they work long hours and ‘barely have time to look up’.
‘Our aim is making sure their finances are in order when they do look up, so they can enjoy relaxing and retirement. It’s all about giving them financial peace.’
Customer satisfaction
Becoming self-employed after being with his previous firm for nearly six years was not a difficult transition for Walkom. He had wanted to be his own boss since leaving the City in 2010.
‘We brought a lot of clients with us. With the markets dropping at that time, we made sure there was a lot of outreach. We wanted to help them understand and reassure them about their plans.’
The first months were spent making sure clients were happy and settled.
‘Without clients, there is no business, so we have to keep making sure they are satisfied with us and we are providing them value.’
For Permanent Wealth Partners, the last six months have been about building internal processes. The firm recently hired a paraplanner, bringing the team to five.
‘It feels like we have the core establishment of the team. We can now go out and actively market the firm.’
People person
The firm is part of the Julian Harris network, which has been helpful in building the business.
‘If you want to be more than a one-man band, you need to invest in your team,’ says Walkom. ‘People will only follow someone when they are happy and motivated. I feel lucky that’s what we have.’
A running theme of new businesses has been using social media, but Walkom says this will not suit his target clients.
‘Again, it comes down to time. Our typical client isn’t going to be sitting on Instagram or Twitter all day. Maybe they’ll check their LinkedIn on the way home, so we will engage on that.’
He intends to build his client base through referrals and other introducers, along with hosting webinars and organising discussions.
‘We have a really strong story to tell, so it’s just about getting into the right places to tell it.’
