A leading North Wales financial firm has launched an expansion scheme by taking over a Shropshire-based business.<\/p>\n
Bosses at Wrexham-based Hadlow Edwards Wealth Management say the new acquisition will increase the number of their clients by 550 to more than 2,000.<\/p>\n
The takeover of Ellett Wealth Management, in Oswestry, is part of a long-term Hadlow Edwards strategy to grow their already successful business which employs an 11-strong team with seven specialist financial advisors.<\/p>\n
Shropshire has been a key target geographically for the company and establishing a better presence in the area has the potential to also open up a mid-Wales market for\u00a0the firm.<\/p>\n
Ellett Wealth Management and Hadlow Edwards are both Practices in the FTSE 100 Company St. James\u2019s Place which is one of the UK\u2019s largest wealth management\u00a0organisations and looks after client funds in excess of \u00a358 bn.<\/p>\n
Ellett Wealth Management was set up by Howard Ellett, 58, of Craigllwyn, a father-of-two and grandfather-of-two, who is taking semi-retirement.<\/p>\n
He will continue to work part-time with Hadlow Edwards as a mentor for junior members of their team and to achieve a seamless transition for his clients, many of\u00a0whom he has worked with for the entirety of his three decades in the financial services industry.<\/p>\n
Medwyn Edwards, Hadlow Edwards Director, said: \u201cThis new and exciting development for Hadlow Edwards brings in a very experienced existing St. James\u2019s\u00a0Place Partner to the fold.<\/p>\n
\u201cWe have a lot of ambition to expand our company and we looked at buying external financial business services. But we thought Howard\u2019s client mix and location along\u00a0with the long-standing and well-thought of relationship he had with his existing clients was a fantastic fit for our business and we are delighted to bring this deal to fruition.<\/p>\n
\u201cIt has allowed us to expand with little risk to our business and our existing clients and we believe this move will act as a springboard to the future development of Hadlow Edwards which is high on the agenda in our long-term plans.\u201d<\/p>\n
Mr Edwards added: \u201cHoward\u2019s input will be valuable on more than one level.\u00a0There is the business it will bring in for Hadlow Edwards, including in the Shropshire area, and the support Howard will give the young advisers here to develop their own\u00a0knowledge and client management skills for the future.<\/p>\n
\u201cThere is also important synergy between Hadlow Edwards and Howard\u2019s company. Both businesses operate with the same ethos of client care and utmost\u00a0professionalism. Our aim is always to listen to our clients and build a very personal and long-term relationship with them.\u201d<\/p>\n
Hadlow Edwards, founded and run by joint directors Medwyn Edwards and Warren Hadlow, offers high quality personal advice on many aspects of wealth management,\u00a0to both individuals and businesses from all different backgrounds and ages with varied financial requirements.<\/p>\n
Mr Ellett, who specialises in inheritance tax, investment planning and trusts, became a financial services advisor in 1987 and has since successfully grown his business to\u00a0represent households across Shropshire, North Wales and Cheshire.<\/p>\n
He said: \u201cThis is an exciting change for me and I am really looking forward to it. While I am selling the business to Hadlow Edwards, I am pleased to continue\u00a0working with them on a part time basis.<\/p>\n
\u201cI have known Medwyn and Warren for 15 years and what has reassured me about selling my business to them is that I know they operate and look after their clients in\u00a0a very similar way to me. It\u2019s a perfect match.<\/p>\n
\u201cI have worked with some of my clients since 1988 and so it was vital, absolutely fundamental to me that whoever I sold the business to would have the same client\u00a0care and ethos as I have.<\/p>\n
\u201cIt\u2019s all about regular contact, it\u2019s being able to help out at short notice if a pressing issue arises, it\u2019s if a client is at a crossroad in their life and they need good advice,\u00a0then I have always made a point of providing that.<\/p>\n
\u201cA client\u2019s situation and circumstances changes, be it marriage, divorce, having a family, retiring, inheriting money. As an advisor, you have to take very seriously the\u00a0fact you are delving into their most personal of affairs. It is our role to help them adjust to those changes in the best way possible and it is a relationship which\u00a0develops through trust.<\/p>\n
\u201cI know I can trust Hadlow Edwards to offer the same level of care and so by selling my business to them I know there will be continuity for my clients.<\/p>\n
\u201cNot only that, but it will also offer them longevity because Hadlow Edwards has good succession planning built in. There is a terrific team of young and up and\u00a0coming advisors who will be able to continue to offer this same level of client care far on into the future.\u201d<\/p>\n