At 25 years of age Taylor Beavis is a relatively young independent financial adviser.
This has not hindered him; his success has enabled the founder of Universe Financial Advice to launch a charitable campaign that sees his company giving all income raised from new clients during May, June and July, to charity.
It was decided that new income would go to a charity of the clients’ choosing, both to allow clients to see their money going to a cause they believed in and to help organisations whose work benefits society.
Mr Beavis says he has always sought to run an ethical company. He himself is the treasurer of his local West Berkshire children’s charity Home-Start, and the desire to help his charity as well as others came out of the Coronavirus crisis.
He explains: “When coronavirus hit, the decision to create this campaign was rooted around a meeting I was in about how funds had been pulled away from local charities because a lot of the big funders were directing all their money toward coronavirus relief efforts.
“I could see charities like mine struggling to do a lot of things that aren’t coronavirus-related and still good for society. I decided to see if on a very small scale I could make a difference and help out with my firm.”
Asked how he managed to sustain this for three months, Mr Beavis says he realised he had already built up some secure business with ongoing clients who paid him annually. These clients “have been really supportive, and keep business going” he says, because they know it is helping the company sustain its charitable efforts.
He highlights advantages to the campaign, including getting to know his clients better.
“I’m able to have conversations with clients that are more meaningful. When you are dealing with clients you tend to know everything about their money, and even what hobbies they like.” But now with asking them to choose a charity, Mr Beavis says he “learns what causes they would like to support – what makes them tick”.
Another, more personal, advantage of the charity campaign was the exposure. “In the industry I am fairly young – the average age of advisers is higher than my age at the moment. And I’ve really appreciated the visibility it’s given me within the industry”, says Mr Beavis.
Understandably, the higher visibility has boosted his business, bringing in new clients. He says this is “fantastic, because it means we can help more people – and if we can help more people, we can help more charities”.