Joanna Streames made the move into advice after almost making the cut for the Apprentice TV show.
The former estate agent said she “fell in love” with advice, and that losing her mum at the age of 19 and having to care for her 12-year-old sister without protection policies in place showed her how valuable protection in particular could be.
These days she passionately promotes the importance of protection, something she has already passed down to her three daughters, two of whom work with her at Velvet Mortgage and Insure Services.
Streames also believes everyone should be able to access advice and says her business takes on clients of all sizes, treating those with £20 policies the same as those taking out higher value policies.
FT Adviser’s Coffee Corner sat down with Streames to talk about her journey.
What was it about your Apprentice experience that changed your career course?
Back in 2010, Streames was close to making the cut for Alan Sugar’s The Apprentice.
She made it to the final stages and said producers were deciding between her and Stella English, who went on to win that year’s competition.
Shortly after this experience she began to lose faith in the promises made by the estate agency she was with at the time.
When a partnership at the firm did not come true, she quit.
A few days later she called one of the partners of the firm, who also ran a financial firm, and asked whether they would give her a job.
“I started there completely heartbroken, not wanting to be there whatsoever, hating my life that this had now happened,” she said.
She started off doing protection and in the end was trained as a financial adviser.
It was during the training she realised this was the career for her.
“I just fell in love with it,” said Streames.
“I had grieved this old career, that I thought was going to have until retirement, worse than any relationship I've ever grieved.”
What part of financial advice are you most passionate about?
The day after Streames turned 19 her mother died leaving her to bring up her 12-year-old sister without enough financial provision.
She said about that time: “We didn't have enough money to get by, it was really tough, we had no emotional support.
“I realised very quickly I could help people avoid that situation if they were ever to die before their children.”
Streames said she was passionate about promoting the benefits of protection to her clients and wanted to get the message out to younger people too.
Two of her three daughters now work with her at VMIS and are also passionate about protection, according to Streames.
What made you want to set up on your own?
Velvet Mortgage and Insure Services will mark its fifth anniversary this November.
Streames said she took the step of setting up her own directly authorised firm because she wanted to do things her own way.
