About Us
History
Professional Wealth Management (PWM) is an independent financial advisory practice based on Lambton Road overlooking Brandling Park in the heart of Jesmond and just minutes away from Newcastle city centre. The company is directly regulated by the Financial Services Authority (FSA) and has been trading in its current format since June 1 2003. The origins of the company date back to 2000 and boasts well over 100 years industry experience amongst its team of advisors.
What we do
We work closely with a wide range of clients to develop financial plans that achieve their financial goals and objectives. We aim to get the best possible returns for our clients and deliver appropriate advice that enables them to protect their income and assets for the future. PWM is not owned by a bank, a building society of any other financial institution. We are not part of a tied, multi-tied or whole of market network of independent financial advisors or connected in any way with a product provider. In fact we are totally committed to independence because we believe it is the only way to deliver advice that is in the best interests of our clients. PWM provides a full range of financial services from mortgage arranging to investment, retirement and inheritance tax planning.
The team and training
Currently the team comprises of six financial advisers backed up by five staff providing expertise in administration, research, analysis, business development and marketing. We are committed to training, and all are advisors are expected to hold the relevant Advanced Financial Planning Certificate qualification in their specialised area. All advisors, regardless of age and industry experience, are required to maintain the highest levels of technical knowledge and competency and to achieve further qualifications.
Our aim is to have a team of highly qualified Financial Advisors, each capable of handling general financila planning but each with a specialism. This means that as a team we can cover all eventualities. In addition we have a dedicated pension transfer and opt-out team and mortgage desk. We also buy in a range of external independent consultancy services to provide support in key areas, such as compliance.
Training plans for the future
The decision by the Privy Council to grant permission to the Chartered Insurance Institute (the CII) to award chartered status to financial planners, is an important step forward in improving the image of the financial services industry.
To be awarded Chartered Financial Planner status an adviser will have to gain CII approved financial qualifications equivalent to first degree level. They will also have to demonstrate relevant experience, adhere to the Chartered Insurance Institute’s Code of Ethics and Conduct and have a commitment to continuing professional development. Professional Wealth Management fully supports this positive move forward and strongly believes that it will be an important contributor in raising levels of client and practitioner confidence in the financial services industry. Although not all IFA firms will press their advisers to achieve this level of qualification, here at PWM our aim is to provide the relevant support and training to enable, in time, all our advisers to gain the chartered status, following the the recent depolarisation.
Client Satisfaction
We offer our clients the best possible financial planning service and we think we do it well, but more importantly so do our clients. In November 2006 we instructed an independent 3rd party company to carry out an anonymous survey to gauge our clients' satisfaction. The results showed that:
83% of our clients would recommend us to friends and colleagues
84% of our clients thought we offered clear explanations
92% of our clients considered us to be trustworthy
93% of our clients felt no pressure to implement a strategy
96% of our clients think we are friendly to work with
97% of our clients are satisfied we deliver a professional service that meets thier needs
The survey analyst concluded:
" The results indicate a very high level of client satisfaction in the service level provided by PWM. Scores reflect a service level ahead of the IFA market in general."