Demand for Specialist Pensions & Independent Advice Fuels Westerby Group Expansion

September 26, 2018

Leicester-based Westerby Group has extended its office base at The Crescent on King Street in the heart of the City Centre.

The Group has seen a 50 per cent increase in staff over the last five years with turnover and pre-tax profit more than doubling. Assets under advice or trusteeship and administration have increased to c£800m with projections to reach £1bn.

Westerby Group Managing Director Steve Harvey says the Group’s expansion is due to a significant decrease in independent financial advisers (IFA’s) and competitors. He said: “People are waking up to the fact they are often locked into high fees and uncompetitive investment products from advisers who are not independent and don’t have access to the whole of the marketplace (restricted).”

Westerby Group Managing Director Steve Harvey says the Group’s expansion is due to a high demand for SIPP and SSAS products and a significant decrease in independent financial advisers (IFA’s) and competitors. He said: “As one of a small number of providers of independent SIPP and SSAS products in the UK, Westerby Group continues to enjoy growth and looks set to capitalise on this demand. On the advisory side, people are waking up to the fact they are often locked into high fees and uncompetitive investment products from advisers who are not independent and don’t have access to the whole of the marketplace (restricted).”

The additional office space will be mainly occupied by Westerby Trustee Services’ growing team with meeting and conference facilities also being used by Westerby Investment Management.

Westerby Trustee Services is a specialist provider of pensions on a “member-directed” basis (SIPP and SSAS) which enables the individual to choose their own pension investments (subject to HMRC rules) including commercial property used for business purposes.

Westerby Investment Management is a leading firm of Independent Financial Advisers in the East Midlands and has seen an increase in enquiries from potential clients who are realising the value of independent financial advice.

Steve Harvey said external factors such as the demand for member directed pensions through SIPP and SSAS’s, a growing awareness of the benefits of unrestricted advice and fewer competitors, are not the only reasons for Westerby Group’s expansion. “It is also down to the dedication and talent of the Westerby Group team. We are now looking forward to working with our newly recruited staff members to build on our continuing success”.

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