New wealth management company is a family affair

New wealth management company is a family affair

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Panoramic Wealth Management

A father and son have launched a new wealth management firm aimed at targeting younger investors.

Gary Jeffries and his son Ross believe these investors are often ‘ignored’ by mainstream firms and there is a niche market available to cater for their needs.

It is partly for this reason that Gary, 54, believes setting up Panoramic Wealth Management with his 20-year-old son will be such a good dynamic.

He said: “We want to avoid being a different version of a father figure and that means we have to relate to the needs of younger people.”

Gary admits the pool of young people with assets available to need a wealth manager was relatively small. But the company’s long-term plan is to nurture a relationship with the average younger person, regardless of how wealthy they are.

Gary said: “It’s about the long-term relationship. We’re talking a period of ten years. Where Ross will specialise is providing advice on things like mortgages, loans or student debt. Hopefully after a while, when they’ve built up their asset base, they’ll entrust its management to us.”

Thanks to the loyalty clients have shown Gary, who has over 30 years’ experience in the industry, Panoramic is launching with solid foundations, with £50m assets under management, and more than 200 major clients. For Ross, working for his father – and with his mother Jill who is the company secretary – will be a learning curve in itself. But the former Skinners’ School pupil has no doubt that opting to follow in his father’s footsteps is the right choice.

Sensible

He said: “I thought about the idea for ages but it began to make more and more sense, especially when I was looking at various universities and realised if I went I would probably only chose to go because I wanted to have a good time.

Which would be nice but not very sensible.”

His aim is to be qualified to give advice within three years and be a fully chartered financial advisor in six to seven years.

“I aim to be ready when my friends leave university and need advice,” he said.

And it is not just Ross who has learned new things through this venture. Working with technologies and
social media aimed at a younger generation has led Gary to think differently too.

He said: “It has given me a new slant on things and I am very excited about the future.”