David R. Little

Senior Financial Planning Director

David is a Chartered Financial Planner and Fellow of the Personal Finance Society, with over 24 years’ experience in Financial Planning since graduating from university with an Honours Degree in Financial Services. He joined 7IM in March 2022 and divides his time between 7IM’s Edinburgh and London offices, assisting clients with their financial planning and Wealth Management.

He prides himself on turning complex, often daunting, financial situations into simple and understandable plans for his clients. Outside of work, he loves to travel and spend time with his family, including his mini-Dachshund Ollie.

7 Questions with David

1. How did you get into wealth management?

Both my parents worked in Financial Services, so it was the natural path for me. My family dinner time was dominated by finance chatter, so finance quickly became a second language to me.

I have a genuine love for helping people and, essentially, that is the most important part of my role as a Chartered Financial Planner. I am known as a “Financial GP”, helping people with every aspect of their financial health as they move through different stages of their life.

2. What’s the biggest highlight of your career in wealth management?

This is a difficult question to answer. Whilst I could rhyme off numerous sophisticated, intricate plans I have successfully implemented for high-profile clients, sometimes the simplest situations are the most rewarding and memorable.

One such time was helping a client who was referred to me in a state of profound desperation – her job was “killing her soul” and the stress meant she was struggling to face work each morning. She was convinced that, due to a recent unexpected divorce, she couldn’t afford to retire and was looking for a 10-year plan, as a small light at the end of a long tunnel.

I started by building her a Lifetime Wealth Model, defining a sensible, tax-efficient plan, using her different jigsaw pieces of wealth. It became clear she could actually retire now, literally at that very moment if she wanted to. She burst into tears in my office, in a moment of genuine relief. This very rewarding, emotional moment has never left me to this day.

It brought home the impact our professional advice can have on our clients and their families. We can often change the direction of someone’s life, very much for the better.

3. What do you find most rewarding about managing people’s wealth?

The most rewarding part is providing clients with the reassurance that “everything will be okay”, which enables them to enjoy their life more.

We often help clear the fog of uncertainty and provide the reassurance that people’s wealth is in safe hands now, with a plan in place. We have an incredibly privileged position managing and advising on a client’s wealth, and that’s something we don’t take for granted. We understand the hard work and effort that has gone into building their wealth, and we take the responsibility of managing this seriously, dedicating every day to meeting and exceeding expectations.

4. What’s the worst non-financial investment you’ve made?

I am forever telling clients to avoid wasting money on “fancy” bucket-list cars, as they are often the worst investments. However, I have myself purchased a few cars which have, as I could have (should have!) predicted, tanked in value in short order!

5. If you could pick one financial habit for everyone to have, what would it be?

Start early, start small, stay committed and ignore the noise.

In my 24 years in this profession, through all manners of economic turmoil, market crashes and a sudden pandemic, the foundations of planning have always shone through. Those with steel nerves, who trusted the process and my advice, have always weathered the storm.

6. As someone who’s partial to a good quote, what’s your favourite and why?

“Find Your Broom”, from Rick Rigsby in 2017.
It’s an incredibly powerful speech Rick Rigsby gave to the 2017 graduating class of Cal Maritime in Vallejo, California. If you have not heard this, I would implore you to watch this. It changed my life. Excellence is a habit, not an act.

7. What specialist areas do you have experience in?

I have an eclectic mix of qualifications covering a variety of financial planning areas. When added to my extensive experience as a Planner, including several years in Geneva working with UK expats, I am well placed to advise on every area of Wealth Management. I am seen by my peers as a specialist in complex retirement planning tax structuring and Inheritance Tax planning, two areas which I really enjoy.

Tax rules are subject to change and taxation will vary depending on individual circumstances. The value of investments can go down as well as up and you could get back less than you invested.