Tweed Wealth Management is converting former rugby players into financial planners as part of its expansion strategy.

The Edinburgh-based firm now has three ex-professionals on its roster after initially recruiting Paul Rowley, formerly of London Welsh and Ulster Rugby, in 2017. He was joined the following year by former Ulster and Edinburgh back Michael Allen, with former Southern Kings and Edinburgh fly-half Jason Baggot completing the trio four months ago.

Mr Rowley is now established as a senior financial planner, while Mr Allen is progressing towards chartered financial planner status. Mr Baggot aims to become a fully chartered financial planner within the next two years.

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Alison Welsh, co-founder and managing director of Tweed Wealth, said the players have been a great addition to the team.

“We’ve found that ex-professional sportspeople, and certainly rugby players, are a great fit for a career in wealth management and we are delighted at how all three are progressing with their individual careers and adding to the professionalism of our business,” she said.

“It may be that sports professionals are used to playing in a team and they are the type of people who can readily listen and take on advice, while being competitive and wanting to improve all the time.”

Alongside his rugby career, Mr Baggot completed a degree in economics and finance at Heriot-Watt University before enrolling in the financial adviser academy run by St James’s Place and then converting to Tweed Wealth.

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"As a fly-half on the rugby pitch, it’s absolutely key to manage the game and communicate with your teammates, that's an invaluable skill I've been able to transfer into the world of finance,” he said. “Good communication with clients and colleagues is an absolute must.

"Rugby players show complete commitment to their trade, so the work ethic of a rugby player and that of a financial adviser is really similar – it’s about being fully committed to doing the best possible work.”

Ms Welsh added that Tweed Wealth has also recruited three paraplanners since the start of this year, and plans to make further appointments in the coming months.

“We are always looking for good people to join us and one of our core values is to introduce new people to the profession who perhaps don’t have the recognised contacts, networks or associated skills,” she said. “It is more down to if we like the person, and can see they are driven and will do well, and we have the infrastructure in place to provide the training and mentoring that will make them a success.”