Building a global trade career

Anyone who wants to become a Fellow of LIBF must have at least 20 years of relevant experience in banking or regulated financial advice, with at least five at a senior level, and be able to demonstrate service to the sector. We talk to Khalid Mahmood about his route to a Fellowship at LIBF and what it takes.

Khalid Mahmood is a Chartered Financial Adviser at Unbiased Independent Financial Advisers Ltd, with a string of financial advice qualifications to his name (ALIBF, Chartered MSCI, Adv DipFA, and AwPETR). But, like many financial advisers, when he first considered what career he might like to follow, financial advice was not on the list.

“At school, I thought about becoming a teacher or working in public service,” he says. “I was drawn towards careers that involved helping people make informed decisions. I had a natural affinity for numbers and analysis, but it was the idea of guiding others – especially through complex subjects – that appealed to me most.”

At university (Punjab University / FG College H-9, in Islamabad, Pakistan), Khalid studied Mathematics and Statistics. When he moved to the UK, he started looking for ways to use his analytical skills in client-facing work. That was when he discovered financial advice as a career path.

The importance of trust

“I originally thought it was mostly about managing money and investments,” he says. “But I quickly learned it was equally about trust, relationship-building, and helping people achieve life goals. That human dimension is what inspired me to pursue it seriously.”

Was there a particular experience that first brought home to him the importance of trust in financial advice?

“Yes,” says Khalid. “Early in my career as a mortgage adviser, I met a young couple who had been turned down by multiple lenders and were starting to believe homeownership was out of reach. They were anxious, disheartened, and sceptical of advisers. Instead of jumping straight into products, I took the time to listen, review their circumstances in detail, and walk them through their options – without making any promises.”

Khalid adds that, after a few weeks of careful work and communication with the lender, they secured a mortgage offer. “The couple later told me that what made the biggest difference wasn’t just the outcome, but that they felt genuinely supported and never pressured. That experience taught me that trust isn’t built on delivering solutions alone – it’s built on transparency, empathy, and consistency throughout the journey.”

That ability to build trust, be consistent and show empathy as a financial adviser does, of course, have to be underpinned by ongoing study. The additional qualifications Khalid took covered pensions, investment, financial planning, inheritance tax and protection, with the aim of being able to serve a diverse client base.

What brings career satisfaction

What has brought Khalid the most satisfaction in his work as a financial adviser?

“One of my proudest achievements is helping many families, particularly from underrepresented communities, to understand and plan their financial futures. It’s deeply satisfying to know that the work I do can empower clients to retire with dignity, buy their first home, or support their children through education.”

Khalid Mahmood

Chartered Financial Adviser

Launching his own firm and building a client base through trust and reputation was another major milestone. However, it wasn’t a trivial step.

“Building a client base from scratch was a significant challenge, especially after transitioning to an independent adviser role,” he says. “I overcame this through perseverance, client referrals, and always putting integrity first.”

But, although it can take financial advisers years to build a good reputation and a client base, they are inevitably part of a sector that does not stand still, which brings its own challenges. Khalid points to adapting to regulatory change as something that particularly requires both agility and continuous learning.

How to start as a young adviser

Given that there are many moving parts to building a career as a financial adviser, what advice would Khalid give to young people thinking about doing just that? “Focus on developing strong listening skills and empathy, alongside technical knowledge,” he says. “Clients don’t just need investment recommendations – they need someone who understands their values, fears and ambitions.” To his younger self, in particular, Khalid would say: “Invest more in building long-term relationships and be patient – trust is earned over time.”

Focusing on what can be perceived as ‘soft skills’ is good advice, Khalid says, because those skills are what sets a good financial adviser apart. “The ability to communicate clearly, act with integrity, and build lasting client relationships is essential. A good adviser must be adaptable, empathetic, and able to simplify complexity without losing depth.”

Getting better at understanding others’ lived reality

A good financial adviser only develops such skills, of course, by interacting with other people and their problems over time. The ability to feel what others feel – so-called affective empathy – is not a given. Children under the age of three are generally unaware of the emotions of others, and some people never develop affective empathy. Being able to understand what others feel – so-called cognitive empathy – also requires work. It is, psychologists point out, “a late-developing ability”.

Has Khalid ever found himself in a situation where he initially didn’t understand how a client felt?

“I recall advising a client who was approaching retirement after decades in a physically demanding job,” he says. “From a purely financial perspective, the numbers showed he could work a few more years and significantly increase his pension income. Initially, I focused on presenting scenarios that maximised his retirement pot. But I noticed he became increasingly disengaged.”

“Eventually, I stepped back and asked more open questions about how he was feeling. He then shared that he was physically and emotionally exhausted, and that what mattered most to him was quality time with his grandchildren while he was still in good health. That moment shifted my approach.”

Khalid said that he then restructured the advice to prioritise flexibility and immediate access to part of the pension, while ensuring long-term sustainability. The client later told Khalid that being heard and understood made all the difference. “That experience taught me that empathy isn't just about being kind – it’s about truly aligning advice with the client’s lived reality, not just their financial figures,” he says.

Giving others what they need

Understanding the feelings and aims of others is only useful, though, when underpins pro-social behaviour. And pro-social behaviour is something expected of the Fellows of LIBF. They have to demonstrate making a contribution both to their profession and to wider society.

Khalid has mentored aspiring advisers and supported community events that promote financial literacy, particularly within minority and migrant communities. “I also take pride,” he says, “In offering inclusive financial solutions, including Islamic investment and pension advice, which are often underrepresented in the mainstream market.”

What happens when a financial adviser makes the effort to understand people who don’t necessarily want ‘traditional’ financial products?

“I worked with a self-employed client who had an irregular income and a strong aversion to taking on any debt,” says Khalid. “He had been turned away by other advisers who insisted that a traditional retirement plan based on regular monthly contributions and long-term fixed products was the only sensible route.”

“When we first spoke, I focused on understanding his values and financial philosophy, not just his numbers. He explained that financial independence and flexibility were more important to him than maximising returns. We built a bespoke plan using flexible pension contributions aligned with his cashflow, and incorporated low-risk, ethical investment choices that reflected his personal values.”

“At the end of the process, he said, ‘For the first time, I feel like I have a financial plan that reflects who I am – not what the industry expects of me.’ That kind of response highlights why tailored advice matters: it creates trust, confidence, and long-term engagement.”

What does Khalid want to do with the Fellowship? “It’s a great honour, and I intend to use it as a platform to further advocate for professional standards and inclusivity in the financial advice sector,” he says. In particular, he adds, he wants to help shape the future of ethical, client-centric financial planning in the UK.      