Personal Finance Society  

Father and son advice team graduate at same time

Father and son advice team graduate at same time

The Personal Finance Society saw a double celebration as a father and son financial adviser team graduated as chartered financial planners at the same time.

Philip Milton, of Barnstaple-based Philip J Milton & Company Plc, and his son Felix recently attended the PFS graduation ceremony at the Chartered Insurance Institute headquarters and graduated at the same time.

This is despite the father and son duo earning their qualifications 23 years apart. 

According to Philip Milton, he was one of the first 100 to qualify as a chartered financial planner (CFP) when the qualification was introduced, but never attended the graduation ceremony until now.

Mr Milton said: "The PFS had to access its archive and confirm I qualified in 1994. I was invited to attend at the time but simply the opportunity never arose and it slipped off the radar.

"In between times, I went onto become a Fellow of the Society, and when Felix started to do the higher level examinations and then qualified, to encourage him to graduate I said that I would attend the same ceremony and make a weekend of it."

At 18, Felix joined the family firm after deciding university was not for him.

After starting accountancy qualifications at the local college, he is also a member of the Association of Accounting Technicians.

Once this qualification was completed, he progressed to the CII's Level four Diploma in Regulated Financial Planning, meeting the Financial Conduct Authority's (FCA's) minimum requirements to advise clients at degree level.

He has vowed to continue to add to his portfolio of relevant qualifications.

Mr Milton senior, who has just celebrated 40 years’ full-time work in the world of finance, said it was particularly poignant his son has qualified at 23-years-old. 

This is because Mr Milton senior started his firm 1985 at the age of 23, working at the time from his parents' living room.

He said the firm now enjoys a multi-million pound turnover, and has grown to 33 staff and manages more than £155m entrusted to it by clients from all over the world.

Mr Milton senior said: "It is very humbling to think 33 years ago I set up on my own and since then, clients have been so supportive of our business and the degree of professional and caring service that we afford.

"It gives [my wife] Helen and I great pride that Felix wanted to join the firm and that he has qualified swiftly too."

Keith Richards, chief executive of the PFS, said: "Our graduation ceremonies are a wonderful opportunity to formally recognise the significant achievement of our members and share the experience with family and friends.

"Sharing the occasion with a loved one reinforces the immense feeling of pride and the Miltons' unique circumstances rightly took this to another level – it was a privilege and a pleasure to congratulate them both in person while creating a new record [the first ever father and son to graduate simultaneously].