North Devon wealth management firm builds on reputation

Philip Milton | Business Action

Philip Milton, managing director of Barnstaple-based Philip J Milton & Company Plc, has been invited to be a panellist at an Exeter symposium hosted by a Financial Times’ publication. FTAdviser, which recently sought Philip’s comments for an article, is presenting on ‘Ways to Protect Against Inflation’ as part of its ‘Income For All’ ‘Open For Business’ conference on 16 May.

The North Devon independent wealth management firm continues to build its reputation, having recently been rated ‘strong’ against the 1,761 peer limited companies in the advisory arena, according to independent research by Plimsoll. The company is also rated in the top 14% with regard to the reserves it maintains. As Philip Milton explains, “We have always believed that whilst our money is entirely separate from clients, it is important to demonstrate that as a business we have substance and can pay our bills with reserves for the hard times.

“Too many financial advisory companies have but coppers to their names, extracting all they possibly can for themselves so that when an issue arises, they are made of straw and disappear very quickly, sometimes taking client monies with them as the systems can become intertwined through administrative collapse or the directors decide to wind the company up to avoid suffering personal liability. We don’t think that is right nor honourable and hence why we always keep reserves well in excess of those demanded by the regulator.”

Philip has worked in financial services for 38 years and, recently when needing to calculate the experience within the firm, found that staff share more than 200 years’ of experience, mostly gained within the company rather than externally. In addition to this experience, the firm is supporting younger staff at the start of their careers and in 2016 supported two staff in their 20s who qualified as advisers after completing the Chartered Insurance Institute’s (CII) Diploma in Regulated Financial Planning.

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