Prest Financial Planning has reported a record first quarter, adding more than £15m to its funds under management. March 2018 was also its strongest-ever month for new funds under management, accounting for £7.7m of the total.
Chartered financial planning firm Prest now manages approximately £350m in client assets, £50m of which was added in 2017. Market fluctuations notwithstanding, the Stockport-based firm is on track to increase its funds under management to more than £400m by the end of the year.
This year’s first-quarter figure of £15.4m in new funds under management compares to £13m for the same period in 2017 and £9.4m added in the first quarter of 2016.
Graham Prest, chief executive of Prest Financial Planning, said: “We have experienced remarkable growth in recent years, and the rate is actually accelerating. Our current growth rate would be impressive for a five-year-old firm but, for one that has been operating for more than five decades, it is truly exceptional.
“Investing clients’ assets is only one part of what we do as financial planners. Nonetheless, funds under management do provide a good indication of growth, and these latest figures show that we are emphatically heading in the right direction.
“The last quarter’s record growth in funds under management was achieved while we were implementing major regulatory reforms that came into force at the beginning of the year. I couldn’t be prouder of the team, who have pulled together and continue to give their all to make this happen.”
As a result of its continuing growth Prest is now looking to add to its administration and financial planning support teams. These roles require some financial services experience and knowledge but the key attributes the firm is looking for are attention to detail, organisation and a commitment to delivering excellent customer service.
Graham said: “We are looking for individuals who have what it takes to join a dynamic team, and are motivated by the sense of achievement that comes from knowing clients are really well looked after. We treat all clients and employees as part of the extended Prest family and are looking for recruits who are just as committed to delivering fantastic client outcomes as they would be to looking after their parents’ or siblings’ personal financial affairs.”
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