Financial Planners successful solution for growth in North West

With ambitions to be the leading chartered financial planners in the North West, Benchmark Financial Planning continues to grow and build on the acquisition it made earlier this year.

It was just over a year ago that Benchmark, part of the Schroders Group, identified the significant business opportunities in the region with the purchase of Waterhouse Financial Planning. The firms had worked together as partners for five years before the deal so knew each other well, which was something the business owners really cared about.

“We knew that Benchmark had a real focus on quality and building longterm relationships,” said Tom Leonard, former Waterhouse Managing Director. “They had supported us with technology and compliance services so it seemed like the natural next step.

“Importantly, their focus was on helping us manage and run the business, allowing us to spend more time taking care of our existing clients and to help more clients benefit from high-quality financial planning.”

Sinead Meenan, Wealth Planning Director, leads the financial planning practice while Tom now focuses on bringing other planners with existing businesses into the group to take advantage of the technology and practice management support that Benchmark provides.

Kennedy Independent Advice became the latest firm to join and, with more than 30 years’ experience as an adviser, Michael Kennedy also recognised the benefits of being part of a wider group.

“It was a really important move for us,” said Michael. “Benchmark’s investment provided security and stability for our clients and our staff. We’ve always prided ourselves on our personal approach and working with clients’ long-term goals in mind, and Benchmark share the same values.

“Their technology is better than anything else I’ve worked with, and we’ve moved into their new offices in Derry too, which is a great place for our staff and also if clients want to come in to meet their adviser face-toface.”

Though just a few months into the deal, Michael is already “really impressed with the financial planning process that Sinead and the Benchmark team offer to clients.”

He explained, “They use technology to show clients visually what they have and the solutions that can help them. This is a real benefit to clients. My staff are happy and they help keep our clients happy. The transition process was really smooth too.”

Having the backing of Schroders – a FTSE100 company with a 200-year history and significant family ownership – is clearly seen as of real value. The reassurance that Benchmark was a safe and professional pair of hands that thoroughly understood his business gave Michael real peace of mind.

Now, Tom has plans to add more firms to Benchmark, strengthening the base in Derry and supporting the growth and development of chartered financial planning in the wider region.

“I’m always looking for the right firms to join Benchmark,” said Tom. “There are lots of options, either selling to us straight away or joining the network and working closely with us before doing that, which is what we did at Waterhouse.”

Either way, Benchmark is clearly committed to the region. “We want to grow, increasing the numbers of financial planners we work with, with the aim of providing great financial planning to more people,” added Tom.

“Benchmark’s support helps financial planners deliver the best possible outcomes for clients.”

For more information, visit www.benchmarkfp.co.uk or phone 02871 878770