Helping to fix the advice gap is a key priority for Heron House. The firm offers full financial plans for the children, close friends and family members of its existing clients. This may not be a profitable venture in the short term but it is hoped it will attract new clients further down the line.

Cost is often perceived as a barrier to advice, but Heron House has cut its initial fees from a typical 3% to 1%, with ongoing clients paying 0.5%.

The firm invests in recruiting new talent into the advice profession and attends university career fairs to market financial planning to students, many of whom don’t see it as a career. Over the past 18 months, Heron House has hired two graduates and a former solicitor, who is now a qualified adviser.

As testimony to its green credentials this year, the firm has landscaped its office grounds to make them more wildlife friendly. Meanwhile, the firm’s investment strategy, spearheaded by investment director Andrew Willemite, has a strong ESG tilt, with 60% of funds recommended this year going into screened strategies.

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