5 Questions With Andy Cowin, Business Development Manager, Isle of Man & Chester
Andy joined Sovereign in June 2024 as a Business Development Manager for the Isle of Man and the North West of England. With over 25 years of experience in dealing with the expatriate market, he has gained a wealth of knowledge of the fiduciary world.
What inspired you to join the team at Sovereign?
I was delighted when the opportunity to join Sovereign came up; I knew the company well and it always struck me as a great place to work. Sovereign’s reputation on the Isle of Man and indeed as a global Group in the industry is second to none so having the chance to now be part of that is fantastic.
What locations do you work in?
I am based in the Isle of Man and am responsible for business development for the Island and also our North West office in Chester. However, given the nature of the Sovereign Group, if a client requires assistance from any of our 20 global offices I am able to assist. From a business development perspective, it is amazing to have that breadth of location and expertise to offer. It is a cliché, but no two days are the same, being part of a multi-jurisdictional business means you never quite know who you are going to speak to and where they are based.
What do you find most rewarding about helping clients with their needs?
The most rewarding thing is when you are able to find the right solution to suit a client’s needs. In many cases a prospective client has an idea that they may want to go down a particular path and set up a structure in a jurisdiction that may not be right for them. Being able to demonstrate that another path and jurisdiction will suit their needs better can be a challenge but is worthwhile and rewarding when they see the other opportunity.
What advice would you give to someone looking to set up a company in the UK?
It’s the same advice I would give to anyone looking to set up any structure and that is to make sure you are doing it for the right reasons and to receive advice on your tax position before doing anything. The world is changing on what feels like a daily basis and the regulatory world is no different, especially at the moment. Setting up a UK company, or any other structure, can have a whole host of benefits but jumping into something without the correct intentions or advice may have consequences in the future.
Deliver the best service you can and be honest and true to yourself. You want your relationships with clients and intermediaries to last a long time so it’s important to do what you say you are going to do and in the timeframe you agreed. I have worked in a very competitive market for the last 25 years and can say some of those people I met when I first entered the industry (those who haven’t retired and are still with us) I still speak to now.
What piece of advice you would you give to your younger self starting in this industry?
To surround yourself with good people and trust your gut feelings. I have been incredibly lucky to have worked with and met some fantastic people but after some reflection I also consider myself fortunate to have met and worked with some that are more challenging shall we say. This has allowed me to form my own opinion on how I would like to do things and treat people and the opposite. I would tell my younger self to trust your gut and if it’s doesn’t feel quite right then don’t do it, and if you do and it doesn’t work out as you hoped to learn from the experience.
