This week our founder Frankie Smith was featured in the FT Advisor for launching her own wealth management firm with an aim of disrupting the traditional model.
At the age of just 29 Francesca ‘Frankie” Smith has launched her second financial business, FSWM (Francesca Smith Wealth Management), securing enterprise investment scheme funding with the backing of three angle investors.
This comes hot on the heels of Frankie’s, her networking club that she launched in 2021, after just four years in the industry. Smith set this up to inspire and empower women to connect, collaborate and engage with finance. As part of this, she mentors women to build financial knowledge and confidence to be bolder around their finances. Regular events, webinars and workshops help educate people with the skills they need around all aspects of finance, including investing.
“While working as a strategic financial planner, I realised there was a huge gap in the market for individuals, especially women, who feel the industry doesn’t cater for their needs,” says Smith.
“People are put off getting advice because they don’t feel the industry is interested in them. Often, because they think they are not wealthy enough, they simply don’t feel confident around their finances, or they are not at a point in their life when they feel they need advice.”
But Smith believes getting people engaged early on their financial journey so they can gain confidence to be bolder, is key to them achieving financial success and security. That’s why just seven years after starting her financial career she has set up FSWM to help more people achieve that.
She adds: “FSWM is not just female focused, it is open to everyone from entrepreneurs to professionals and families, whatever stage they are at in their financial journey. But it aims to champion women at its core.”
Smith is passionate about innovation and change. She wants to see more women in the industry, in roles that can make a difference. She’s hoping to lead by example, showing women they can do it too – be successful in this typically male-dominated business and help to bring about change.
And she wants to break the mould and ditch the rigid format for client interaction. She believes clients want more than they are currently getting from advisers. “I want to move the advice market forward, make it accessible to a much wider audience with a fresh approach. People don’t just want one or two annual reviews. They want to feel part of something bigger, a community that offers much more. I want to empower my clients, help them feel more connected and confident to make decisions that are right for them.”
Smith has secured her £250,000 target first round seed funding for FSWM. She says: “It is tough for all new founders to get investment in the current financial climate and especially women. Seed funding is at its lowest since 2016, so it feels good to have people believe in what I am offering.”
Darren Carter, Board Member at Peel Hunt Investment Bank and FSWM’s lead investor, says: “ I am excited to be investing in Frankie’s new venture as she is exactly what the financial advice industry needs, a very impressive young women that has great passion to make a really positive difference for her clients with fresh and innovative ideas.”
Media Contacts:
Paul Smith Associates: Tricia Phillips: Tel: +44 (0) 7790 014096; email: tricia@paulsmithassociates.co.uk
Note to Editors: Frankie Smith is available for interview by contacting PSA