Citywealth Leaders List, 60 seconds interview – Richard Cook, Senior Chartered Financial Planner, Rathbones Group
This week’s 60-second Citywealth Leaders List interview is dedicated to Richard Cook, Senior Chartered Financial Planner, Rathbones Group.
Tell Citywealth readers a bit about your role:
I’m a Chartered Financial Planner and Fellow of the Personal Finance Society, with over 13 years’ experience in financial services. I work with high-net-worth individuals and families to help them achieve their long-term life and financial goals. My approach is comprehensive and tailored, covering everything from safeguarding wealth against unforeseen events, to growing assets tax-efficiently, planning for a secure retirement, and passing wealth on effectively.
Over the years, I’ve advised FTSE 100 executives, successful entrepreneurs, and senior partners at leading law and accountancy firms. My role is to bring clarity and structure to complex situations so that clients can make informed, confident decisions.
What does a typical day look like for you?
I start each day by reviewing my priorities. In this profession, effective time management is essential, as there are always competing demands. I check in with my team to ensure we’re aligned and delivering the highest standards of service.
Much of my time is spent on client work, answering queries, preparing for meetings, and keeping clients informed throughout the advice process. Producing robust financial advice involves gathering detailed information, understanding a client’s goals, and working with third-party providers to review existing arrangements. A key part of this process is cash flow analysis, which is a powerful tool that allows clients to visualise their future, explore scenarios, and make well-informed decisions.
Alongside client work, I dedicate time to staying up to date with industry developments, mentoring colleagues, and collaborating with other professional advisers. These relationships are vital for delivering truly joined-up solutions for clients.
No two days, or clients, are ever the same. That variety, and the chance to build lasting relationships, is one of the most rewarding aspects of my work.
Tell us about some recent, interesting client instructions or requests.
I recently began working with an entrepreneur whose focus had been entirely on growing her company, meaning her personal financial planning had taken a back seat.
We started with a full financial review, ensuring liabilities were covered with appropriate life insurance, and using employer pension contributions from her business, coordinating with her accountants, to begin building meaningful retirement plans. I also encouraged her to set up Wills and Lasting Powers of Attorney through a solicitor, tailored to both her personal and business circumstances.
The part that resonated most was the cash flow analysis. We explored the question: “How much is enough?” Mapping out a future in which she could live comfortably, provide for her children through trusts, and pursue philanthropic goals was eye-opening. We also stress-tested the plan against potential business challenges.
With the right strategy in place, she realised she didn’t have to rely solely on a business exit to secure her family’s future. That peace of mind freed her to focus on running and growing the company, knowing her personal finances were secure.
What challenges do your clients face, and how do you help them overcome them?
The biggest challenge my clients face is change, whether in their personal circumstances, their ambitions, or the wider financial environment. Tax rules, legislation, and planning strategies shift regularly, so it’s essential to review and adapt plans over time.
A timely example is the upcoming pension rule changes announced in the 2024 Autumn Budget, which are set to increase inheritance tax exposure for many. This has caused uncertainty, especially for those who saw pensions as a tax-efficient way to pass on wealth.
I’m working proactively with clients to reassess estate planning strategies. We’re exploring the potential effects of these changes and considering solutions such as restructuring assets, using trusts, insuring inheritance tax liabilities, or adjusting plans to protect their legacy in the most efficient way possible.
What is your proudest professional achievement?
One of my proudest moments was being invited to join a Rathbones video podcast to share my career journey, with the aim of inspiring aspiring financial planners and investment managers.
Supporting future talent has always been a passion of mine. I’ve mentored colleagues, hosted work experience students, and contributed to external mentoring programmes for those entering the profession. The podcast gave me a platform to share both my successes and the challenges I’ve faced and how I’ve learned from them.
Hearing that my story resonated with colleagues and encouraged them on their own paths was deeply rewarding. It reminded me that sharing the unpolished parts of our journey can be just as powerful as celebrating the highlights.
What do you consider the most important attributes for a leader?
For me, great leadership rests on three foundations: integrity, empathy, and clear communication.
Integrity is about doing the right thing even when no one is watching. It builds trust and sets the cultural tone for the team. Empathy means understanding each team member’s strengths, challenges, and motivations. It creates an environment where people feel valued and supported to grow. Clear communication is what brings it all together, aligning the team on goals, sharing feedback, and keeping everyone informed.
True leadership isn’t about commanding attention; it’s about empowering others and creating the conditions for them to thrive.
Who do you most admire and why?
I most admire my wife, who has been a constant source of personal and professional inspiration. Her determination, curiosity, and ability to adapt are remarkable. Over the years she’s launched a retail business, worked as a self-employed marketing consultant, led start-up marketing teams, and volunteered as a mentor for early-stage companies.
She has faced setbacks, as every entrepreneur does, but always stays positive, learns quickly, and turns uncertainty into opportunity. Her example has shaped how I work with clients: thinking creatively about solutions, embracing change, and staying grounded no matter the circumstances.
Where was the last place you travelled to for work or pleasure?
My last trip abroad was to Malta, chosen for its rich blend of cultures and deep historical significance. As a history enthusiast, I was captivated by its layered past, from ancient temples to wartime fortifications. My wife shares this passion, so we explored the island together, enjoying the sunshine and excellent food along the way.
If you weren’t in this industry, what else might you be doing?
If I weren’t a financial planner, I’d still want to work in a role centred on helping people. I once considered a career in law, as I believe I’m naturally logical, persuasive, and determined to achieve the right outcome. Friends have suggested I’d make a good teacher, as I take genuine satisfaction in helping others grow and develop.
How do you relax after a long day?
Getting outside is my go-to way to unwind. I enjoy walking and have recently taken up running, a great way to clear my head. When I have more time, I’ll read or listen to a podcast, switching off from the day and recharging for the next.
Richard Cook’s Citywealth Leaders List profile
Richard Cook is a Top 25 Investment Managers 2024
Rathbones’s Citywealth Leaders List profile
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