A financial planning firm’s decision to invest in new talent is paying off as it passes £205 million assets under management – the best performance in its 31-year history.
Bank House Financial Planning, which acquired Fox Whittle Financial Management in February, has seen a surge in new clients following the deal, with individuals keen to tap into a business that is looking to remain independent rather than becoming part of a consolidator or larger group.
Part of this approach has seen it look to diversify the skills and backgrounds of its advisers, with two of its newest recruits recently achieving Competent Adviser Status (CAS) to bring them to the required level for advising clients.
Financial advisers Hannah Garratt and Paul Trahearn both joined the Brewood-based company from backgrounds outside of the financial advice sector, the former an ACA-qualified accountant and the latter a teacher for more than 15 years.
“Our recruitment strategy aligns with our long-term succession plan. Starting in 2017, we have sought to secure the longevity of the business by hiring younger talent, rather than selling to a consolidator or larger business,” explained Sam Brueton, director and financial adviser at Bank House.
“Bringing advisers on board from diverse backgrounds widens the perspective of the team, offering different mindsets and fresh viewpoints when serving clients.”
He continued: “Hannah and Paul are both under 40 and in the middle of their careers, and by the middle of next year, no Bank House adviser will be over the age of 42. This ensures that clients will have an adviser to serve them for the long-term.”
