Hartey Wealth Management

A Message from Lord Pickles and Lord Blunkett, followed by Hartey Wealth Management's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Hartey Wealth Management is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.harteywm.co.uk

THE PARLIAMENTARY REVIEW
Highlighting best practice
THE PARLIAMENTARY REVIEW
Highlighting best practice
22 | HARTEY WEALTH MANAGEMENT
Managing Director
TristanHartey
The team at Hartey Wealth Management help clients to
achieve their financial goals by focusing on maximising
wealth and protecting hard-earned assets. Managing
Director Tristan Hartey explains that the firm specialises in
helping families look after their wealth throughout generations.
He and his team provide expert advice in all areas of financial
planning, including pensions, savings, investments, life
insurance and estate planning. According to Tristan, this is why
Hartey’s clients can rest assured that they are being looked after
in every possible area of wealth management.
When we set up the business in 2013, we had one overarching principle – to put
clients at the heart of the business. We wanted to be able to focus wholly on the
clients. This meant creating a slightly different approach to running an independent
financial adviser. The first part of ensuring that our clients were fully looked after
was placing people into individual roles. Therefore, the advisers would only do one
thing – see clients. They would not be spending time writing reports or making
their own appointments; this was done by other individuals within the business.
To do this, though, we had to ensure that the right people were in the right roles.
We did this by utilising psychometric testing for all of our employees. In addition,
we have recently spent a 12-month period streamlining our processes and have
been awarded ISO 22222 in financial planning and BS8577 for processes with
financial planning. These two awards have vindicated our way of doing business.
Keeping good company
As a fully independent company wholly owned only by people who work in the
business, we are not influenced by outside entities such as insurance companies
or outside shareholders. We believe that the way in which we operate is different
from our competitors. As each member of our team is given a specialised role in
the business, this ensures they develop the processes up until a point. We find that
this also lends itself to the engagement of any new members of the team, who are
easily able to learn the individual elements of the processes we offer.
We work on a front-stage-versus-backstage model, in which around 90 per cent
of the work we perform takes place behind the scenes. This allows us to continue
to develop and evolve while maintaining our high-quality service, for which we are
well reputed.
As a family business, we understand the importance of a sense of community and
work to encourage our customers to feel safe in our hands. Indeed, as a second-
opinion service, we are able to review policies and provide a second opinion for all
our clients, ensuring that their investments are secure and well researched.
AT A GLANCE
HARTEY WEALTH
MANAGEMENT
»Managing Director:
TristanHartey
»Founded in 2013
»Located in Chester
»Services: Expert advice in
financial planning, such
as pensions, savings,
investments, life insurance and
estate planning
»No. of employees: 12
»Part of the Million Dollar
Round Table
Hartey Wealth
Management
BEST PRACTICE SPONSOR 2020
23HARTEY WEALTH MANAGEMENT |
FINANCIAL SERVICES
We attribute our success to our staff
and ensure we accommodate their
needs. We provide more holidays
than we are required to give, and free
fruit is distributed around the office.
We believe that the culture of your
workspace impacts your work, and
we hire a large number of millennials
who expect a high-calibre workplace.
Through working in a different way to
others in our industry, we believe we
are able to provide the best for both
our customers and our staff.
Regulation and commiseration
Regulatory challenges are rife
throughout the industry, and we have
outsourced a compliance company who
visit every 90 days to ensure that all our
operations are in line with the rules. The
constant changes in rules often make it
challenging to establish what is best for
any client at any one time, and we do
all we can to remedy this situation.
Brexit has also proven concerning for
the uptake of our business. Indeed, we
have noticed a slower rate of business
since the referendum, with people
taking far longer to make decisions.
We are still endeavouring to establish
exactly what our business policy is, in
line with this; however, the current
market uncertainty does not provide
the climate we need. The negative
atmosphere we have found at present
also serves to hamper business, and
we estimate that between 35 and 40
per cent of our clients exhibit particular
concern surrounding Brexit and Trump.
We have found that bad press also
impacts our operations and that the
constant push on fees is not something
created by our company but is a
reflection of wider society. Pressure
from regulators, and at times from
clients, damages our ability to perform
at our best.
Sustained growth
In the coming years, I hope to see
our company expand from its current
position in the market. At present we
are responsible for some £125 million
worth of funds, on behalf of 300
families. In the next decade, we see
ourselves ultimately responsible for
£350 million worth of funds, owned by
some 600 families. Through growing
in this manner, we will be able to be
increasingly purpose built for more
clients and be responsible for a larger
wealth portfolio overall.
In line with this growth, we believe
our performance will also improve. We
will focus on wealthier families and
our ability to impact them in the most
positive way possible. Our community
will benefit from these growth plans,
and if current growth is anything to go
by, we are confident in our ability to
meet our goals.
Chester office receptionBoardroom one
Regulatory
challenges are
rife throughout
the industry,
and we have
outsourced a
compliance
company who
visit every 90
days to ensure
that all our
operations are
in line with
therules

www.harteywm.co.uk

This article was sponsored by Hartey Wealth Management. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Elizabeth Truss.

Rt Hon Elizabeth Truss's Foreword For The Parliamentary Review

By Rt Hon Elizabeth Truss

Even by the standards of the day –this has been one of the most exciting and unpredictable years in British politics.

The leadership election we’ve just seen marks a huge moment in our country’s history. This government is taking a decisive new direction, embracing the opportunities of Brexit and preparing our country to flourish outside the EU.

As international trade secretary, I’ll be driving forward work on the free trade agreements that are going to be a priority for the government. Free trade isn’t just an abstract concept bandied around by technocrats. It is crucial for a strong economy and for the ability of families to make ends meet. Free trade benefits people in every part of our country, as British firms export to new markets and people doing the weekly shop have access to a wider choice of goods at lower prices.

The essence of free trade is in the title: freedom. It’s about giving people the power to exchange their goods without heavy government taxation or interference. Commerce and free exchange are the engine room of prosperity and social mobility. I’m determined to tackle the forces who want to hold that back.

One of my priorities is agreeing an exciting new free trade deal with the US, building on the great relationship between our two countries and the Prime Minister and US President. But I’ll also be talking to other partners including New Zealand, Australia and fast-growing Asian markets.

And with the EU too, we want a friendly and constructive relationship, as constitutional equals, and as friends and partners in facing the challenges that lie ahead – a relationship based on a deep free trade agreement. Our country produces some of the world’s most successful exports, and the opportunity to bring these to the rest of the world should make us all excited about the future. It is this excitement, optimism and ambition which I believe will come to define this government.

For too long now, we have been told Britain isn’t big or important enough to survive outside the EU – that we have to accept a deal that reflects our reduced circumstances. I say that’s rubbish. With the right policies in place, we can be the most competitive, free-thinking, prosperous nation on Earth exporting to the world and leading in new developments like AI. To do that, we’ll give the brilliant next generation of entrepreneurs the tools they need to succeed. Since 2015, there has been a staggering 85 per cent rise in the number of businesses set up by 18 to 24 year olds – twice the level set up by the same age group in France and Germany. We’ll help them flourish by championing enterprise, cutting taxes and making regulation flexible and responsive to their needs.

As we do that, we’ll level up and unite all parts of the UK with great transport links, fibre broadband in every home and proper school funding, so everyone shares in our country’s success.

2019 has been the year of brewing economic and political revolution. 2020 will be the year when a revitalised Conservative government turbo charges the economy, boosts prospects for people across the country, and catapults Britain back to the forefront of the world stage.



Rt Hon Elizabeth Truss
Secretary of State for International Development