East Midlands finance firm set for national success after rapid expansion

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.”