First Wealth strengthens leadership team with appointment of David Aaron as Head of Compliance

The appointment marks the next phase of growth for the B Corp-certified financial planning firm

First Wealth, the B Corp-certified financial planning firm, has appointed David Aaron as Head of Compliance, strengthening its leadership team as the firm moves into the next phase of its growth. The appointment coincides with plans to move to direct authorisation by the Financial Conduct Authority, which would give First Wealth full autonomy over how it shapes its own regulatory approach.

Aaron brings almost two decades of compliance experience to the role, having held senior roles at wealth management and financial planning firms, including St. James’s Place, Smith and Williamson, Brewin Dolphin, Saunderson House, and 7IM. Most recently, his work has focused on moving from monitoring and assurance into senior leadership, with an emphasis on pragmatic, commercially minded compliance and strong client outcomes.

Anthony Villis, co-founder and Managing Director of First Wealth, said: “We are building a business for the long term, which means bringing in the right people as we grow, and David’s appointment is a big part of that. Moving to direct authorisation gives us the autonomy to shape our own regulatory approach, and at the moment, the regulator is open to firms thinking differently about how they deliver good outcomes. David has the experience and the entrepreneurial mindset to make the most of that opportunity.”

Direct authorisation would place regulatory responsibility with First Wealth’s leadership team, giving the firm the flexibility to determine its own compliance framework and respond directly to FCA guidance. It would also support the firm’s ability to make its own technology choices, including how it uses data and systems to monitor client outcomes as it grows.

The appointment also reflects the current regulatory environment. Consumer Duty has increased the FCA’s focus on demonstrable client outcomes. This direction aligns with First Wealth’s Measure Wealth by Wellbeing philosophy, which frames financial planning around client wellbeing across six evidence-based pillars. Aaron’s role will be to ensure the firm has the governance needed to support that philosophy.

Aaron said: “First Wealth is at an important stage in its development, and direct authorisation is central to that journey. It allows the firm to build its own compliance framework around what it believes is right for our clients. Consumer Duty has increased focus on evidencing good client outcomes, creating space for firms that embed compliance into their operations. First Wealth’s culture and mission make that a strong foundation to build on. The Wealth by Wellbeing philosophy is something I’m extremely passionate about and is a real difference maker in terms of providing great outcomes for our clients.”

Aaron’s immediate priorities include progressing the firm’s direct authorisation application and building the compliance infrastructure required for the next phase of its development. He will also work closely with advisers and the leadership team to embed compliance thinking across the business.

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