The Press and Journal (Inverness, Highlands, and Islands)
‘Outstanding’ growth for financial planning firm
Success: Firm’s assets under management double in only one year
An Aberdeen-based financial planning firm has doubled its assets under management (AUM) in only a year.
Anderson Anderson & Brown Wealth (AAB Wealth) said yesterday its AUM had rocketed to more than £200million, thanks to new business worth £100million during the past year.
It is also toasting a 25% increase in clients and a 28% rise in their average funds.
In addition, AAB Wealth’s team – based at the Prime Four business park at Kingswells – has mushroomed from 10 to 15.
The firm said it had invested heavily in talent at all levels, with two additional members of the team becoming chartered financial planners within the past year.
It added it had also invested in service “infrastructure” and seen a significant increase in clients coming to it for help with defined benefit pension transfers, as well as inheritance tax and succession planning advice.
Frank Morton, director of wealth services, AAB Wealth, said: “We like to have real conversations with our clients regularly and ensure that they are at the centre of all activity, which in turn makes sure that their plans meet their requirements.
“The growth we have achieved in this last year has been outstanding and has been driven by client demand, alongside our internal focus on developing talented people.
“Our team has risen to the occasion and delivered results for our clients, so it is fantastic to see growth like this,” added Mr Morton.
“With a healthy pipeline of new business opportunities, we look forward to seeing what the next year has to bring and to continuing to enhance our service offering.”
AAB Wealth was created in 2011, when the chartered accountancy firm Anderson Anderson and Brown decided to add wealth management to its services. Earlier this year, the business celebrated success in the Citywire New Model Adviser Awards for a second consecutive year.
It held on to the Scotland and Northern Ireland regional title in the accolades, which recognise the best in financial planning across the UK.