Adviser Spotlight: Michael Philpot, Cannongate Wealth

Cannongate Wealth is a family-run firm of Wealth Managers based in Cannon Street, London. Led by adviser Michael Philpot DipPFS, IMC, the firm supports clients with genuinely personal financial planning across mortgages, insurance, pensions, investments and inheritance tax. 

In this spotlight, Michael reflects on his journey, his experience within The Openwork Partnership and the future of financial advice. 

Michael’s career journey 

“I joined the family business straight after university at 21,”  Michael shares. “The firm has been part of The Openwork Partnership for decades, all the way back through Zurich and Allied Dunbar, so financial services always felt like home.” 

Determined to build his expertise quickly, he began studying straight away and completed his CF qualifications in his early twenties. He then made the decision to step outside the family environment to build broader experience, joining Transact for three years. 

“It taught me so much. How to prioritise under pressure, how to collaborate effectively, how to work to structured deadlines and what good management looks like. It was invaluable.” 

Returning to Cannongate Wealth, Michael continued to deepen his technical knowledge, completing the CFA IMC, the CII Diploma in Financial Planning and CF5 so he could offer mortgage advice. 

“In my late twenties, a lot of people around me were buying their first homes, so mortgage and protection advice became a natural starting point.” 

His expertise has since expanded to include more advanced planning areas, including COBs, Whole of Life for inheritance tax, Relevant Life Plans, and shareholder protection. 

Michael has now taken full ownership of the firm and leads everything from annual reviews and new business to team development and daily operations. 

“It has been a rewarding journey and ownership brings a whole new level of responsibility and purpose.” 

The strength of The Openwork Partnership proposition 

For Michael, the strength and breadth of the Openwork proposition is a major asset. 

“Across mortgages, protection and investments, the choice and quality are excellent.” 

He is particularly impressed by what advisers can access: 

Support that makes a daily difference 

“The Partnership Development Managers are incredibly supportive. They genuinely want our business to grow,” Michael says. “Their accessibility and willingness to help have been powerful drivers of our development.” 

He also speaks highly of First Telephone Support. 

“It is such a useful resource for both me and my team. Whether we are checking a sales process, double checking an approach, or needing technical clarity, the support is quick and reliable. It saves us time and gives us peace of mind.” 

Embracing the future of financial advice 

Michael is energised by how technology is enhancing the advice process. 

“Technology and Artificial Intelligence are starting to remove more administrative tasks. They help us capture conversations, record client objectives clearly and produce documents more efficiently.” 

But for him, the real benefit is how this strengthens client relationships. 

“Clients do not come to us for paperwork. They come for advice, clarity, and reassurance. The more time technology saves us, the more time we can spend on what really matters: understanding their goals and supporting their financial futures.” 

He believes these tools will only become more sophisticated, allowing advisers to deliver even more tailored planning. 

The value of Openwork’s flagship events 

“The conferences always offer a broad mix of speakers, ideas and insights,” Michael says. “I try to leave with three or four actionable ideas I can bring back to the business.” 

Stepping out of day-to-day work gives him valuable perspective. 

“Events like these help you refresh your thinking, understand what is coming next and hear best practice from others across the network. They keep you motivated and informed, which is essential for continuous improvement.”