We all know that sinking feeling when we realise something has gone terribly wrong: the heart starts pounding and the neck feels awfully tight.
The blame game can be ferocious in firms and make employees feel so bad they shut down entirely.
But not at Matrix Capital.
A blaming culture is exactly what this financial planning business is trying to avoid, and for good reason, says Robin Melley, managing director of the firm.
"It's amazing how many times a new way of doing something comes out of something that goes wrong," he says.
Rather than blaming, Matrix Capital tries to learn from its mistakes. It has a simple questioning process in place to ascertain what went wrong, why it happened, what can be done to rectify it, and what it can learn from it.
This has allowed the firm to keep innovating, says Melley. "The good ideas really come out of your failures rather than your successes," he says.
Matrix Capital is a small independent business in eastern Shropshire, which over the past decade has transformed into a professional financial planning firm, with some innovative policies to boot.
Working with Canadian consultant Strategic Coach, they have come up with a corporate policy that puts teamwork at the centre of its strategy, for both its approach to serving clients and the ownership of the firm.
Matrix Capital was once known as the chosen partner of NS&I, to advise its jackpot winners. This has played a pivotal role in its transformation, says Melley, especially its move to becoming a specialist in vulnerability.
"That gave us a real insight into how do you deal with people where their circumstances have suddenly changed." he says.
"The sudden wealth, particularly for people that aren't used to dealing with large amounts of capital, does need specialist knowledge.
"And it's not just the technicalities around that; it's dealing with all of the other issues, like how it impacts on their relationships, sometimes their mental health."
Qualifications and training in vulnerability
The team holds several specialist qualifications between them, including the Step estate planning qualification and the Solla accreditation for advising on later life.
"We've got this ethos of providing a safe pair of hands for clients in vulnerable circumstances," Melley says.
"It's partly driven by my passion, I suppose, as the founder of the business.
"I've spent 33 years saving clients millions in inheritance tax and helping them fund their retirement and they're always appreciative, and they pay the fees.
"But there's something really gratifying about helping somebody who is in vulnerable circumstances that can't help themselves, and sometimes can't even thank you for helping them."
The issue of vulnerability has been a major area of concern since the FCA published its guidance on treating vulnerable clients in 2021.
According to Melley, the issues the industry often struggles with are simple things like the use of terminology.
