Why I Started Meerkat: Lessons I’ve Learned Building a Financial Services Business

Financial services can often feel overwhelming. Between technical jargon, hidden fees and one-size-fits-all advice, many individuals and businesses struggle to find guidance they can genuinely trust.

When I started Meerkat, I wanted to build something different.

I was frustrated by how complex, opaque and impersonal financial services had become for everyday people and businesses. Too often, advice was driven by product sales rather than outcomes, and clients were expected to navigate confusing financial language that did not truly fit their lives.

I believed there was a better way.

I wanted to create a business built on clarity, transparency and genuine partnership. My goal was simple:

• Give people straight answers
• Offer fair pricing
• Put clients’ interests first
• Help people make informed financial decisions with confidence

From day one, Meerkat was designed to combine technical expertise with practical, human guidance.

Why I started Meerkat

The reason I started Meerkat was simple.

I saw a major disconnect between what clients actually needed and the advice they were receiving.

Many individuals and SMEs were being sold unnecessary complexity. Financial products were often treated as solutions in themselves rather than tools that should support someone’s broader financial goals.

I wanted to strip things back and focus on what really matters:

• Clear explanations of risk
• Honest conversations about trade-offs
• Advice based on real-world behaviour
• Removing hidden costs and unnecessary complexity
• Long-term education and trust

For me, financial services should help people feel more confident and in control, not intimidated or disengaged.

One of the biggest goals in Meerkat’s early days was closing the trust gap that exists in the financial services industry.

The five biggest lessons I’ve learned building Meerkat

Building a financial services company has taught me a huge amount over the years.

Looking back, these are the five biggest lessons I have learned since starting Meerkat.

1. Trust compounds over time

One of the biggest lessons I have learned is that trust compounds slowly at first, then exponentially.

Consistency matters far more than trying to impress people with complexity or clever ideas. Businesses that communicate clearly, follow through on promises and show up consistently build stronger long-term relationships.

In financial services, credibility is earned over time.

2. Simplicity is much harder than complexity

People often assume complicated advice means better advice.

I have learned the opposite is often true.

Clear, simple and practical guidance requires deep understanding and discipline. Clients do not need unnecessary jargon or overcomplicated structures. They need advice they can understand and apply to their real lives.

3. Culture is strategy

The people you hire shape the business more than any strategy document ever will.

I have learned that professionalism, accountability and shared values create consistency across the organisation. In a service business, culture directly affects the client experience.

4. Regulation is not the enemy

Many people entering financial services see compliance and regulation as obstacles.

I view them differently.

Strong governance and compliance frameworks build trust, professionalism and sustainability. Businesses that respect regulation are often better positioned for long-term growth.

5. Listening matters more than assumptions

Clients often already understand their challenges.

What they usually need is someone who can help them articulate those concerns clearly and guide them towards practical solutions.

I have learned that listening carefully almost always creates better outcomes than making assumptions.

The most unexpected challenge I faced

One of the biggest surprises for me was how much time and energy client education requires.

Even highly capable and intelligent people can feel anxious or overwhelmed when making financial decisions.

Financial stress often comes from uncertainty, past experiences or distrust in the industry. I learned very quickly that it is important to meet clients where they are emotionally, not just financially.

Another challenge was learning how quickly scale exposes weaknesses in systems and processes.

What works perfectly for ten clients can break completely at a hundred if governance, documentation and systems are not strengthened early enough.

That experience pushed us to professionalise earlier than I initially expected.

Perhaps the most important lesson was learning that transparency, while uncomfortable at times, is actually one of the greatest strengths a business can have.

Being honest about:

• Costs
• Risks
• Trade-offs
• Limitations
• Expectations

creates stronger and longer-lasting relationships.

What I wish I knew before starting Meerkat

Looking back, I wish I had fully appreciated how long credibility takes to build.

Reputation in financial services is earned gradually through consistency and trust.

I also wish I had delegated earlier and hired experienced people sooner. Trying to do everything yourself can slow growth and create unnecessary pressure.

Another important lesson was the value of investing early in systems, documentation and operational structures, even when the business still feels small.

That said, many entrepreneurial lessons can only come through experience.

The early stages of building a business teach resilience, prioritisation and empathy for people facing uncertainty.

While I would absolutely adjust parts of the execution, I would not change the principles Meerkat was founded on.

My advice for anyone starting a financial services business

Start with purpose

My advice is to focus first on the problem you are solving and the people you want to help.

The financial services industry does not need more complexity. It needs more clarity, transparency and accountability.

Invest in governance and compliance early

Compliance should never be treated as a simple box-ticking exercise.

Strong governance creates trust and provides a stable foundation for long-term growth.

Build slowly and listen carefully

Sustainable businesses are rarely built overnight.

Focus on consistency, listen obsessively to clients and stay open to feedback.

Protect your integrity

In financial services, reputation matters enormously.

Do not compromise your values for short-term gains. Long-term trust creates stronger and more sustainable success.

Remember that this is a people business

Technical expertise matters, but empathy, communication and consistency matter just as much.

Businesses that genuinely prioritise clients and think long term still have massive opportunity in financial services today.

Why trust and transparency still matter

When I started Meerkat, I wanted to build a business that made financial services feel understandable, transparent and genuinely useful.

For me, success has never been about selling the most products or creating unnecessary complexity.

It has always been about helping people make better financial decisions with confidence.

As the industry continues to evolve, those principles remain central to how we operate today.

If there is one lesson I would share from my journey, it is this:

Trust, transparency and long-term thinking still matter.

And in financial services, they always will.

Frequently Asked Questions

Who is David O’Brien?

David O’Brien is the Founder and CEO of Meerkat, a financial services business focused on transparency, practical advice and long-term client relationships.

Why was Meerkat started?

Meerkat was started to simplify financial services and provide clients with clearer, more transparent financial guidance that prioritises their real needs.

What makes Meerkat different?

Meerkat focuses on clear communication, honest advice, fair pricing and long-term financial outcomes rather than product-driven sales.

What is the biggest lesson from building a financial services business?

According to David O’Brien, trust compounds over time. Consistency, transparency and listening carefully to clients are critical for long-term success.

What advice does David give to entrepreneurs?

David advises entrepreneurs to start with purpose, invest in compliance and governance early, protect their integrity and focus on building long-term trust with clients.