Member Article

IFA Set for 20% Growth with SME Market

IFA AIMS FOR 20% GROWTH ON THE BACK OF NORTH EAST SME MARKET

Newcastle-based independent financial advisors Laurus Associates is investing in an ambitious plan to grow funds under management by 20% this year, on the back of a stream of SME referrals.

Nearing £100m funds under management at present, the IFA has found particular growth with a booming trend of pension property purchases for business owner clients based in the region.

With just two advisors, a support staff of four and the most recent appointment in December, the small team has already achieved 10% growth in the past year, as well as being named a national finalist in two categories at the 2017 Corporate Advisor Awards.

Planned strategic investment in innovative software, a continuous staff training programme, and recruiting further support staff aims to provide a streamlined service and stay ahead of the curve in the changing financial services market.

Laurus Associates director Karen Barwick said: “Both Colin and I have had a particularly busy start to the year due to referrals alone. We have found particular success with our business owner-manager clients in handling pension property purchases.

“Using a pension to buy commercial property can be a very attractive opportunity to a business owner because of the tax relief benefits, plus it can be occupied by your own business while the property value continues to grow and the rental income then builds up the funds in your pension scheme.

“Our client-centric approach has always been a step ahead of industry standards, which we believe is the root of our success to date. Investing in internal resources means our capabilities, despite our size, makes us a first choice IFA for corporates and business owners.”

Laurus Associates director Colin Dawson expands on their investment plans: “We have always embraced technical advancements in our industry and with new, automated, dashboard-style apps and software being introduced regularly we plan to invest in our own back-office systems.

“We focus on training that helps develop our people to be multitalented, so that our staff skillset allows for a fluid workforce with an efficient client service. We want to appoint additional sales support staff as this will free up more of mine and Karen’s time in achieving our business growth goals, as well as offering graduate career opportunities or apprenticeships.

“We have seen pension property purchases amongst the North East business community increasing as more business owners are becoming aware of this lesser-known opportunity. Our development plan will keep us in prime position to lead in this growing corporate and business owner market.”

This was posted in Bdaily's Members' News section by Laurus Associates .