Immediately prior to joining Westminster Wealth Management:
Director and Founder of a highly productive, London-based IFA firm that is still trading (as of 2017).
Principle reasons for leaving:
Wanted to focus energies solely on client affairs (as opposed to the running of a business).
Felt constrained by the depth of expertise and lack of capacity amongst the senior advisors at previous firm.
Breakdown of business relationship between shareholders. I found that my business partner had differing values / needs / expectations that could not be resolved from within the same organisation.
Having been two of the leading advisors (by production volume) in a firm that numbered up to 750 advisors, my business partner and I formed our own firm in 2000.
Whilst our productivity levels were similar it became apparent that we shared very little else in common. Nevertheless we continued to operate thus for a number of years and were pioneers in developing a subscription based client model in the mid ‘00s.
I changed my role in 2003 to focus purely on client generation, account management, and financial modelling - rather than the technical product related work that many IFAs conduct - yet this only served to further highlight some of the shareholder-value issues that I mention above.
Like so many small businesses, those inter-personal differences failed to narrow; I eventually exited that business and started working with Martin and Kevin at Westminster Wealth Management in 2009.
At that point, Westminster Wealth Management were an AR of the firm by whom I was directly contracted and so for the first two years we had an ‘arm’s length’ relationship; with Keven and Martin delivering on my premium client’s needs.
It soon became apparent that we shared exactly the same core values and that in Westminster Wealth Management I had finally found a technical and service delivery partner in whom I could place total faith.
By the time Martin announced that they would be taking direct authorisation with the FCA Westminster Wealth Management were managing around £40,000,000 of my clients’ assets and generating a further c£300,000 of annual transaction fees.
I approached them to work with them directly in my current role and have never looked back.
This year, the clients that I look after will generate revenue approaching £1 Million for the first time.
In 30 years of Financial Services I have never known my clients to have felt more secure in the advice which they receive and I have never been personally happier.
I have no doubt that my recent success is down to the environment in which I currently find myself.
Please do not hesitate to call me if you wish to find out more about Westminster Wealth Management.