A new board of directors has been unveiled at an East Yorkshire company following a successful management buyout.
Hessle based Informed Financial Planning (IFP) has announced its new board in a second phase of a buy-out, which earlier this year paved the way for five employees to become shareholders in the majority stake of the business. The buy-out strategy enables IFP’s founder Kevin Ferriby to become chair, allowing for the next generation to take the reins.
The new team, which has an average age of 38 and equal gender ratio, is made up of Mr Ferriby, the chair and non-executive director, Lindsey Gresham, Gregg Crawford, Jessica Crawford, Anjeanette Kemp, Sarah Williams, Joe Sanders and new managing director, Josh Richardson.
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Mr Ferriby says: “Part of the process has been identifying and selecting the team that will carry the business forward, whilst retaining full independence and securing longevity for our people and clients. I am proud to have agreed a new board, made up of dedicated individuals who feel empowered to achieve their own aspirations.
“Whilst the board reserves the right to autonomy over key decisions, I first wanted to ensure IFP would keep its independent status, rather than being taken over by a larger corporation.”
New MD Mr Richardson said he is confident about opportunities for the Livingstone Road firm which also has offices in Leeds and Barnsley. He said: “I am thrilled to have this opportunity with a fantastic team and positive culture. A high proportion of our people have spent their entire career at IFP, starting as graduates and working their way through various roles, evidencing how much career progression means to us as a business.
As the new managing director of the firm, which is turning over £3m and has more than £277m of client funds under management, 29-year-old Mr Richardson said he will continue to advise a range of clients, to help the firm achieve its financial goals. He added: “Part of our vision for the future is to stand out as a leading employer in our sector. Independence is rare and it gives us the freedom to make decisions about our business which ultimately benefit clients. We are incredibly proud of our status as the only independent, Chartered Financial Planners in East Yorkshire.”
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