People’s heightened concerns about money are driving growth at north-east firm Acumen Financial Planning (AFP).
The cost-of-living-crisis, soaring inflation and job insecurity has prompted many to think more about their financial futures, according to AFP director Keith Mackie.
And increased demand for AFP’s services has led to the firm expanding its team of money experts across offices in Westhill, near Aberdeen, Peterhead, Elgin, Edinburgh and Glasgow.
North Sea changes fuel greater interest in personal finances
Many of its north-east clients work in the North Sea oil and gas industry.
Uncertain times for that sector are forcing more workers to think about preparing themselves financially for a possible redundancy or retirement, Mr Mackie said.
“We are seeing growing demand for retirement planning across all sectors,” he said, adding: “It’s become more important than ever for people to seek professional advice.”
It’s also important to keep refreshing that advice as clients’ circumstances change over time, he said.
Pensions is the biggest area of growth for Acumen just now.
Mr Mackie explained: “There’s been a lot of changes in employment recently.
“Pensions is always one of the first things people want to speak to an adviser about.”
The bigger picture
AFP is part of the Financial Planning Group, whose other companies include Acumen Employee Benefits, SpringGen, Medical & Dental Financial Planners, Enrich Tax Consultancy and Loch Fyne Financial.
AFP is keen to grow its referrals from its sister firms, particularly the employee benefits business.
It can already count on a strong record of word-of-mouth referrals from existing clients, said Mr Mackie, who is also a group director.
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But the focus is always on tailoring advice to people whose lifestyles may be very different, he added.
He continued: “At every new meeting we really have to be at the top of our game to make sure the client goes away confident about the planning for their financial future.
“We thing about the bigger picture,” he said, explaining this may include a “whole family wealth strategy” to look after the future needs of children or perhaps grandchildren.
Glasgow expansi0n
AFP is recruiting more people “because the demand is there” and also to meet the needs of evolving technology, he said.
The award-winning firm has clients from Inverness to the Scottish Borders, plus a few in England too.
It opened its Glasgow office last year and continued expansion of the business has taken the group-wide headcount to nearly 90.
Five recent recruits have started work as financial planners and paraplanners in Westhill, Edinburgh and Glasgow.
Promotions too
There have also been promotions in Westhill and Glasgow in a reshaping of the team to meet demand.
AFP recruitment and development manager Nicola Doohan said: “It’s a great feeling to be expanding our teams throughout Scotland and recognising fantastic work with well-deserved promotions.
“Having new employees on board who come from a variety of backgrounds will be beneficial not only for our teams but the clients we assist with daily.”
Further recruitment is currently taking place, with the company seeking an administrator in Westhill and a financial planner in Elgin among other roles.
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