Myddleton Croft announces another year of strong growth

Leeds based investment management firm Myddleton Croft has reported that funds under management are up 11.6 per cent for the year to end of June 2014 to nearly £60 million.

The firm, which believes that the way forward is through successful, intelligent outsourcing, has worked hard over the past few years to build strong bonds with advisers (IFAs) and is now reaping the benefits.

Pre-tax profit was up 23 per cent year on year and funds under management have increased by 62.6 per cent in three years.

Myddleton Croft achieved top ratings with Defaqto for 2014 and has been busy forming strong alliances with leading advisers on the East Coast, West Yorkshire, Greater Manchester and Cumbria thus broadening their reach across the North of England.

David Cowell, CEO Myddleton Croft comments, “We have been delighted with the year of progress. We have successfully formed several new key and we look forward to a period of continued growth and to developing these new partnerships.”

Myddleton Croft’s next task is to implement a new software system which will revolutionise the business and allow greater and faster progress. It will also provide an improved customer experience and hopefully create interest from other investment managers in considering a future with them.

IFAs now pride themselves on being able to manage their clients’ financial affairs from cradle to grave; be it a mortgage, life and health insurance, retirement planning, IHT planning, cash-flow forecasting, education costs, etc.

Outsourcing these activities, along with investment in up-to-date computer software for client relationship management, compliance reporting and record keeping, should produce a business which is not only the envy of other IFAs but from which satisfied clients will benefit greatly, and, importantly, should lead to at least a doubling of profit.

Julie Jones, director responsible for business development, said: “‘we are an investment management firm without an IFA business, we focus wholly on investment management and providing IFAs with a service which is fully complementary to their range of financial service propositions.”

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