Finance Awards 2019

31 | SME NEWS - Finance Awards 2019 Finding the right people to advise you through important financial decisions is no easy task. While large companies have a certain appeal, it is within smaller businesses that you are likely to be listened to, affirmed and looked after best. Founded by Damien Paterson, Managing Director, Paterson Financial Planning has grown steadily over the last fifteen years. We caught up with Richard Farquhar to find out more about the secret of this financial firm’s success. Best Pension Advisory Firm 2019 - Scotland Paterson Financial Planning Ltd: Established in 2004, this Glasgow- based firm is dedicated to ensuring its clients receive the best care possible. Specialising in pensions, investments, IHT planning and Long-Term Care advice, Paterson Financial Planning has a broad spectrum of clients from all age groups. For Richard, the strength of the firm comes from the attitude with which they approach their clients. ‘We have a strong company ethos based around taking care of our clients and the idea which has served Paterson Financial Planning well,’ he explains. Clients are served by a small team, made up of three Financial Advisors, a Paraplanner and four administrators. As a tight- knit group, it is easy to ensure that client remain distinct individuals in their own right. ‘Our mission is fairly straightforward,’ Richard continues. ‘We want to continue growth but at a steady and measured rate which will ensure that our core business, which is our existing clients, are not affected by any stretched resources.’ The threat of stretching is a pleasant risk for the Scottish firm, as it has enjoyed growth year on year, even during the financial crisis. It has allowed the team at Paterson Financial Planning to be a little more precise with clients and professional connections, picking those who fit within the scope of their business proposition. With clients deftly placed at the heart of the business, Richard explains a little more about the culture driving the company. ‘It is a privilege to take care of someone’s finances and financial future. Sometimes it is their family’s futures as well.’ The delicacy of a client’s situation is not lost on Richard and his colleagues. Determined to continue providing excellent customer service for their clients throughout their lives, they are preparing to expand their offerings into the later life sector. ‘We believe this is going to be hugely important to individuals and families over the coming years as studies show that people are living much longer than they ever have before due to medical advances. As a result, this has led to a greater need for expert advice and financial planning in this area,’ Richard tells us. This is part of a bid to combat the often conflicting and flawed advice that can be provided by family, friends and the internet. ‘We are committed to offering a ‘gold standard’ service in this area and we are therefore going through the accreditation process with the Society of Later Life Advisors, which will demonstrate our understanding of this technical area of advice and require the implementation of a strict code of practice,’ he explains. This will sit alongside courses like the Dementia care at home training and becoming dementia friends through the Alzheimer’s Society. These practical steps will lift the quality of Paterson Financial Planning’s service significantly. Moving forward, a buoyant financial industry has put Paterson Financial Planning in a good position looking forward, despite various political uncertainties like Brexit causing consternation amongst clients. ‘Although it will be tricky, we don’t foresee either outcome being a major hurdle to an overall longer-term planning strategy for clients,’ Richard tells us. Keeping on top of what is happening within the industry is a priority regardless and allows Paterson Financial Planning to continue providing relevant advice to get the best results for their clients. ‘We meet with a wide range of industry experts to keep pace with developments,’ Richard elaborates. ‘This includes meeting with Fund Managers to get their views on their specialist areas and with economists to get their input on macro events and viewpoints. We also meet with tax and trust specialists regularly and with companies who provide VCT and EIS solutions as well.’ With a genuine talent for answering specific needs and demands, Paterson Financial Planning has built an incredible reputation within the industry. Their tireless drive to provide the best service for their clients in to their credit, and their success is duly earned. Finding the right firm to provide financial advice can be challenging, but Paterson Financial Planning makes it look easy. Contact: Richard Farquhar Company: Paterson Financial Planning Ltd Web Address: Telephone: 0141 221 0033