News

view all our latest news stories here...

Honest advice and a personal approach drives ex-motor dealer's investments

In these exasperating ‘credit crunch’ times, the temptation may be to resort to that old chestnut of keeping your money under your bed – but it doesn’t have to be that way, says Merseyside businessman and satisfied Fraser Wealth Management client Chris Smith.

Pick your financial advisers wisely, spread your risk widely and take a long term view, advises the 45-year-old Wirral man, who enjoyed a share of the proceeds when family firm the Robert Smith Group sold its six Mercedes-Benz dealerships – including Liverpool – to Inchcape in 2005.

Together with his father and sister, Chris was one-third of a family trio that had built up the successful business over 20 years. Finding himself with a substantial cash sum ‘burning a hole’ in his pocket, he set about looking for the best way to protect his new-found wealth for the future – and soon found himself bamboozled!

Chris, who retained a property role with Inchcape and also acts as a consultant to another of his family’s thriving businesses, Welding Units, in Rainford, which makes pipe connectors for the oil and gas industry, explains: “Normal advice when selling a business would be to plan your exit strategy well in advance and already have your own personal investment strategy in place. However, the nature of our Mercedes-Benz franchise and rules governing its sale meant we couldn’t discuss our plans with anyone beforehand.

“So, once the sale was complete I found myself with money to invest and no idea where to invest it for the best. I found myself sitting in front of a succession of advisers from big-name companies but quickly realised that all they were really interested in was my cash. Nobody took the time to get to know me personally and find out what made me tick or what I really wanted to do. I didn’t feel comfortable signing over my money to any of them.”

Fortunately at that point Chris remembered an old associate, Kevin Gillibrand, who had previously acted for him and had recently set up a new business venture with fellow financial adviser Paul Bocking. Between them, Kevin and Paul run Fraser Wealth Management, based in Cheapside, Liverpool; the first firm of independent financial planners in the city to achieve Chartered status from the Chartered Insurance Institute (CII).

Chris continues: “Kevin had arranged a couple of mortgages for me and we got on well. I’d become more and more exasperated with people trying to place my money here, there and everywhere – mostly in hedge funds, which have had their share of bad publicity of late – and the approach that Kevin and Paul took was a breath of fresh air.

“Firstly they took time to get to know me as a person, my hopes and aspirations for the future, and to find out whether I was a risk taker or a more cautious investor. Once they’d established this they were able to come up with an investment strategy that wasn’t necessary the most dramatic but it suited my profile by spreading the risk and building in a series of ‘safety nets’ in case the stock market fell. I’m extremely grateful to them for their help given what is happening in today’s money markets.”

Chris has continued to take Fraser’s advice with other personal investments, including property deals, and he says they will be closely involved when he fulfils his next ambition to invest in a business that complements his love of gardening:  “I’ve investigated a number of options, including a garden centre and a business importing mature trees from all over the world. Whatever I choose to do, I know that Fraser Wealth Management will provide me with carefully thought out, honest and, above all, appropriate advice that is tailored to my needs.”

Based in Liverpool, as well as having offices in London, Fraser Wealth Management offers expert advice in a range of areas, with particular expertise in retirement, investment and inheritance tax planning. They operate a fee-based service, as opposed to one based solely on commission taken from investments, creating more efficient financial planning that is transparent, specialised and client centred.

Further information: www.fraserwm.co.uk or call 0845 456 4404.       

Published on by

<< back to news section
Newsletter
Testimonials
Make an enquiry
Contact us

 

Liverpool Office

52 Tithebarn Street
Liverpool
Merseyside
L2 2SR

Tel: 0845 456 4404
Fax: 0845 456 4405
(location map)
 

London Office

1 Cornhill
London
EC3V 3ND

Tel: 0207 743 6558
Fax: 0207 743 6559
(location map)