Pictured above: (l-r) Steve Moseley, Kevin Mee and Paul
Millott of Sterling McCall with their business development manager
Gary Ireland from the bank
A wealth management and financial advisory firm in Kegworth is
looking to treble turnover to £4.5 million over the next two
years, open offices across the country and has created five new
jobs this year after expanding using a loan from Lloyds TSB
Commercial.
Sterling McCall Wealth Management, established in 2003, manages
private investment portfolios for its clients and currently looks
after investments worth £140 million. The firm is hoping to
increase this to £1 billion and take on a further 20
qualified advisors across the country in the next five years.
In 2010, the business acquired two firms - Absolute
Professionals in the East of England and Halcyon Asset Management
in Leicestershire - and made a significant change to its
services.
Following the acquisitions, the business launched new portfolios
that were traditionally only available for clients with investments
of £250,000 or more. The new service now gives all clients
active daily account management services no matter how large their
investment is.
In order to fund its plans for the firm, Steve Moseley,
Operations Manager at the company, was recommended to approach
Lloyds TSB Commercial, which provided a loan.
The business has grown from three staff in 2003 to 30 in 2011,
which includes 19 specialist advisors based across the Midlands and
North West , and is set to open regional offices in London , the
South West, Manchester and Birmingham this year.
Steve Moseley said: "As a firm we have to be at the forefront of
fiscal change to be in the best position to provide our clients
with the highest standard of financial advice. The acquisitions
have increased our expertise as a firm and by changing our client
services, we can now offer all of our customers a whole host of new
portfolios.
"To fund our plans for the business and support its growth, we
approached Lloyds TSB Commercial to provide us with the financial
support we needed.
"Completing acquisitions in a turbulent economy was not without
its risks but we felt that by taking this step we would be on a
much stronger platform to succeed and expand in 2011."
Gary Ireland, Business Development Manager for Lloyds TSB
Commercial, said: "In an industry that has not escaped the
recession, Steve and his firm have managed to navigate difficult
economic conditions by adapting their business model to meet new
demands.
"By acquiring existing businesses and changing their client
services, they are in a much stronger position which has resulted
in fantastic growth and development. Steve approached us with a
very thorough and detailed plan for the firm in 2011 and beyond and
this is reflected in the firm's ambitions."