In the latest episode of The ifa Show, Falcon Financial Advisers partner and financial adviser Tom Moloney joins host Keith Ford to break down why he decided to establish his own firm around 18 months ago, and the importance of developing new talent in financial advice. Moloney explains how he took an intentional approach to his career in financial advice, some of the pros and cons of setting up a new advice firm, and the different options that a prospective practice principal can explore when going out on their own. Tune in to hear:

• The value of having the support of an established business, including leveraging shared resources, economies of scale, and established referral networks.
• How transitioning from an adviser to a business owner requires a significant mindset shift.
• Why nurturing "soft skills" like communication and client understanding in new advisers, alongside technical expertise, is vital.