September 2007

BOOM-TIME FOR CITY FINANCE FIRM

Top Aberdeen financial firm Acumen Financial Planning is to embark on a major expansion scheme following a period of unprecedented growth.

The company, which is part of The Acumen Group, has recently opened an office in Edinburgh and is beginning a major a major push to consolidate its success in the north east which it has already begun by bringing the first Certified Financial Planner to Peterhead.

The move follows significant year-on-year rises in profit, which have resulted in the company growing much more quickly than anticipated. The growth has led to the creation of the senior position of head of financial planning filled by Bill Saunders who has been promoted from the role of financial planner.

Mr Saunders, who will be responsible for driving forward the expansion plans, said: "It's a hugely exciting time for the company. The speed of our growth has exceeded our expectations and we are delighted to now be in a position to consider further expansion.

"We've come to the realisation that we are major players in the region and are thoroughly looking forward to the challenge of further expanding the business both through geographical and organic growth. We are currently considering a number of acquisition options in Edinburgh and are looking to greatly increase our profile throughout the region."

In the last three years, the company's turnover has more than trebled and its client funds under management have soared from £30 million to £100 million. It now has ambitious plans to continue with this impressive growth.

The success of the company lies in the ethos of providing tailored financial advice on an individual basis rather than the traditional model of selling financial products.

It's a strategy that has paid dividends. Thriving on referrals, the company has grown from an initial team of just two financial planners in 2001 to 10 financial planners today, seven of whom have achieved internationally recognised Certified Financial Planning status, plus a further 10 support staff.

Mr Saunders said: "Aberdeen is booming and there is huge demand for the type of services we provide. We have set ourselves apart from similar service providers and it's a step that has paid dividends. We have been able to attract high quality clients which in turn have enabled us to expand both our team and our offering in the region".