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‘We can create a ready-made business for the right adviser’

‘We can create a ready-made business for the right adviser’

Simon Goldthorpe, executive chairman of Beaufort Group, said he does not want his business to grow as a network or consolidator due to the issue of “a lack of quality”.

In a video interview with Investment Adviser’s Ellie Duncan, Mr Goldthorpe said he is trying to get people to partner with his business rather than just be simple AR firms.

He said: “We are looking to acquire firms directly and not just recruit new AR firms. We are also looking to grow our own adviser base as well.

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“One of the interesting things we are looking to do in 2015 in particular is to grow younger firms.

“To try and encourage those who may be two or three years into their careers who have ambitions to develop their own business but clearly that is very expensive and quite difficult to do.

“We want to provide the infrastructure for them to do that (develop their own business) and maybe create partnerships or limited companies for them and provide the cash flow that is critical for most young firms and provide the outsourcing.

“Essentially we can create a ready made business for the right type of advisers.

“We think that is a way of growing a business that will have quality as a priority and will create a healthy environment in terms of the way that advice is delivered.

“We spend a lot of time talking about exit plans. I sometimes wonder whether we should be on a plane to Dignitas.

“There is not a lot of talk about entry. Creating new firms is much more exciting.”

emma.hughes@ft.com