Longstanding UK financial adviser Kevin Smith has completed a management buy-in with directors Ian Butler and James Vickers taking equal shares in Margetts Wealth.
The duo, who have both been with the firm for over 20 years, join current owner Smith at the helm and will ensure the highly successful business remains independent and owner managed. Pictured above, left to right: Ian Butler, Kevin Smith and James Vickers (all Margetts Wealth)
Located at its office in St Paul’s Square in Birmingham, the company currently manages more than £230m of assets and funds for 350 clients, including business owners, professionals and a network of accountants and lawyers across the region.
Three authorised advisors are supported by eight staff to deliver investment, estate, retirement, tax and corporation transaction advice, with Margetts Wealth also running its own centralised investment proposition and diversified model portfolios.
Smith, who will now move to the position of chairman, said: “We’ve come a long way since I took over in 2012 and this deal has been in the planning for more than four years.
“Ensuring our clients get the same no-nonsense and personal advice they’ve been used to is a priority for me.”
He continued: “Ian and James have helped shape our culture and have been an instrumental part of Margetts Wealth for over two decades themselves. They already had minority shares, so it seemed like a natural progression for them to become equal shareholders and drive us forward in the future.”
Butler, who graduated from Birmingham City University in 2000, added: “This is a big moment for both James and I, and cements our long-term future with a business we are so passionate about.
“Remaining independent was a big priority. Our clients are used to receiving their advice and guidance in a certain way and that will continue with the new management structure.”
Margetts Wealth offers clients an independent financial review that provides an initial insight into short, medium and long-term planning requirements.
Using more than 75 years’ combined experience, the firm will then work with the individual/business owner to identify where they need support and expert advice…this could be on investments, retirement planning, protection, trusts and estates, succession planning or accelerating exit strategies for business owners.
Vickers picked up the story: “After an initial period of bedding in, we’ll take on the day-to-day running of the business, with Kevin focusing on developing new sources of revenue, working with our intermediary network and acting as an ambassador for the firm.
“For our existing clients, it will be very much a continuation of the excellent customer service they are used to, combined with the latest tailored financial advice.”
He concluded: “The aim is to go for 20% growth over the next twelve months and, with the pipeline of opportunities we currently have, that is very realistic.”
