Friday, 09 January 2015 10:59
Financial Planning firm founded by Sting's adviser sets aims high
A Financial Planning firm founded by an adviser to the stars is aiming to put a year of upheaval behind it, with sights set on hitting a turnover of around £1m in 2015.
The Red House Consulting was set up in 2007 by Gareth Marr, who advised Sting and Pink Floyd drummer Nick Mason during his 30-year career, among other celebrities.
The Accredited Financial Planning Firm has faced major challenges over the last year, after Mr Marr stepped down at the start of 2014 following a ten year battle with cancer.
Mr Marr, former deputy chairman of city regulator FIMBRA and also an ex-AMPS chairman, handed over the reins to Ruth Sturkey CFPCM.
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With Mr Marr's exit, the boutique Financial Planning business has had to cope with a 50% turnover in staff over the past 12 months and has also had to find new premises to relocate to after its lease expired.
Furthermore, it faced an FCA inspection, though it managed to get a "clean bill of health" having come through this successfully.
Despite this, under the stewardship of Ms Sturkey, it managed to turnover £860,000 during the 2014 calendar year. Ms Sturkey told Financial Planner the company is targeting a 10-15% revenue increase for 2015, building on the year on year growth it has achieved so far.
The relocation had been "incredibly disruptive" for the firm and while the FCA visit had turned out well, she said it had inevitably added pressure, making it, all in all, a challenging year.
Having now settled into new offices in St John Street at the start of December, Ms Sturkey is concentrating on a year of growth for the firm.
The new offices allow for the team of six to grow to ten, with potentially two new members of staff to be recruited in quarter three, Ms Sturkey said.
Following some departures last year the firm has recruited Tommy Watson, a Paraplanner, and Donia Dimov, a junior Financial Planner, formerly of Skandia, in recent months, bringing the team back to six members.
Financial Planner Rachel Coowar left after five years' service to go to Fortitude Financial Planning.
Ms Sturkey said: "Recruiting is always a nightmare. We had been struggling to find a Paraplanner but we now believe we've got the right people in place to take the business forward. Now we're at the same numbers as this time last year and with the new team coming together we're ready to motor ahead in 2015."
In the coming months The Red House will be hosting an informal gathering for clients and colleagues and will also be holding a dinner event in June.
Ms Sturkey hopes the firm will be taking part in Financial Planning Week in November by offering free public surgeries, which it was unable to do in 2014 due to moving offices.
For more background on the firm you can read last year's Financial Planner Magazine My Business article on The Red House here.
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The Red House Consulting was set up in 2007 by Gareth Marr, who advised Sting and Pink Floyd drummer Nick Mason during his 30-year career, among other celebrities.
The Accredited Financial Planning Firm has faced major challenges over the last year, after Mr Marr stepped down at the start of 2014 following a ten year battle with cancer.
Mr Marr, former deputy chairman of city regulator FIMBRA and also an ex-AMPS chairman, handed over the reins to Ruth Sturkey CFPCM.
{desktop}{/desktop}{mobile}{/mobile}
With Mr Marr's exit, the boutique Financial Planning business has had to cope with a 50% turnover in staff over the past 12 months and has also had to find new premises to relocate to after its lease expired.
Furthermore, it faced an FCA inspection, though it managed to get a "clean bill of health" having come through this successfully.
Despite this, under the stewardship of Ms Sturkey, it managed to turnover £860,000 during the 2014 calendar year. Ms Sturkey told Financial Planner the company is targeting a 10-15% revenue increase for 2015, building on the year on year growth it has achieved so far.
The relocation had been "incredibly disruptive" for the firm and while the FCA visit had turned out well, she said it had inevitably added pressure, making it, all in all, a challenging year.
Having now settled into new offices in St John Street at the start of December, Ms Sturkey is concentrating on a year of growth for the firm.
The new offices allow for the team of six to grow to ten, with potentially two new members of staff to be recruited in quarter three, Ms Sturkey said.
Following some departures last year the firm has recruited Tommy Watson, a Paraplanner, and Donia Dimov, a junior Financial Planner, formerly of Skandia, in recent months, bringing the team back to six members.
Financial Planner Rachel Coowar left after five years' service to go to Fortitude Financial Planning.
Ms Sturkey said: "Recruiting is always a nightmare. We had been struggling to find a Paraplanner but we now believe we've got the right people in place to take the business forward. Now we're at the same numbers as this time last year and with the new team coming together we're ready to motor ahead in 2015."
In the coming months The Red House will be hosting an informal gathering for clients and colleagues and will also be holding a dinner event in June.
Ms Sturkey hopes the firm will be taking part in Financial Planning Week in November by offering free public surgeries, which it was unable to do in 2014 due to moving offices.
For more background on the firm you can read last year's Financial Planner Magazine My Business article on The Red House here.
Get FREE daily news summaries direct to your inbox. Sign up on the homepage now.
Follow us on Twitter and get frequent news alerts @FPM_online.
Or follow Editor Kevin O'Donnell - @FPM_Kevin or staff writer James Nadal - @FPM_James.
For the latest Sipp, SSAS and retirement news visit our sister news site www.sippsprofessional.co.uk and on Twitter @SippsPro.
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