North-east financial services firm expands to meet demand in 10th anniversary year
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According to the Intermediary Mortgage Lenders Association (IMLA), mortgage lending will rise this year, despite the ongoing pandemic disruption.
In their latest report, The New Normal, IMLA predict that gross mortgage lending will rise to £283bn this year.
This is a trend which has been borne out in the experiences of award-winning independent financial advisory firm, Phil Anderson Financial Services.
The Ellon-based firm recently experienced their busiest January ever for arranging mortgages on behalf of clients, while September and October last year proved their busiest months ever for mortgage leads.
In addition to the increase in their mortgage business the company has continued to support an ever-widening customer base with their financial affairs across a range of service areas including investments, pensions, savings, mortgages and insurance, despite the restrictions and challenges of the past year.
Turnover for 2020 was £1.1 million, with the firm predicting that will increase by almost a third in 2021.
The independent financial advisors currently have offices across the north-east, with a new office in the pipeline for Caithness, as well as a prospective move to larger premises for their headquarters in Ellon.
The firm’s headcount has also increased to keep pace with the growing demand for their services.
Having previously won The Northern Star Business Award in the Staff Matter category, managing director Phil Anderson is passionate about supporting, developing and rewarding members of his team.
Longest-standing member of staff, Rebecca Shiel, has been with the company for 10 years, and now owns 5 per cent of the business.
The team currently numbers 11 members of staff, three of whom took up their positions during the past few months: Kayleigh Ross (Mortgage Adviser in Caithness) started in October, James Irving-Lewis (Protection Specialist) started in November and Cheryl Horne joined as a Financial Adviser just last month.
Another financial adviser is due to take up his post in the coming weeks.
Phil said: “We appreciate that the past year has been exceptionally difficult for people, both personally and professionally.
"However, as a business our ultimate goal is to help our clients to make the changes that will improve their lives, and that’s been more important than ever during this challenging period.
"Whether that means arranging mortgages as people’s lives evolve, advising on how to make the most of your pension, or even opening an ISA to save for a much-needed holiday when restrictions are lifted, we’re in a very privileged position to be able to help people to achieve their goals.
"We feel very grateful that so many people have come to us in the past year from all corners of the north-east and beyond – the expansion of the business in terms of our offices and also our staffing means that we can help even more people going forward.”
Phil, who established the business in 2010, also records a popular podcast series - The Personal Finance Show.
From ‘Nae will? Nae wise!’ to ‘Tips to improve your credit score’, Phil discusses a hot topic in personal finance in each podcast, delivering relatable insights and advice with his customary warmth.
