It’s not every day that one of Britain’s most distinguished financial experts travels from London to Shropshire to open a new suite of offices.
Mike Wilson’s visit to Shrewsbury shows the esteem in which our own David Penney is held.
Wilson is a former chief executive of Hambro and J Rothschild Assurance and counts big hitters like Lord Jacob Rothschild and Sir Mark Weinberg among his associates.
It was in 1991 that Wilson founded the renowned St James’s Place Group with Weinberg, with whom he had worked in the life assurance industry since 1968.
St James’s Place, offering wealth management, has grown to have 1,200 advisers throughout the country, of which David Penney is a senior partner.
The David Penney Practice recently moved into smart new offices at Kensington House, Knights Way, Battlefield. The company previously had offices in Shrewsbury town centre and, later, Hatchers solicitors at Battlefield.
Mike Wilson was only too pleased to help toast the occasion, saying: “David is an excellent financial adviser who does an exceptional job. He is a very bright young man who has made an outstanding contribution to the success of St James’s Place Partnership.”
Praise, indeed, from a man at the forefront of the British wealth management industry, who worked his way to the top after starting as a salesman with Abbey Life in 1963. St James’s Place has grown consistently in its 16 years and now has funds under management amounting to a staggering £17 billion.
Wilson is clear about the debt he owes his mentor. “I have worked with Sir Mark Weinberg since I was 23 and learnt an enormous amount from him. A brilliant man,” he says.
David Penney is equally complimentary towards Mike Wilson. “To have someone of that stature helping your career is tremendous. St James’s Place provides an outstanding support network for us.”
David, who hails from north Shropshire, has specialised for 16 years in offering expert advice on a wide range of important financial areas including investments, inheritance tax planning, pensions and protection.
To many, the world of finance may seem a little dry but David admits he loves his work and helping his clients.
“It is all about people, really. People have differing circumstances and needs and I really enjoy devising plans to help them. People are facing vital decisions about how to use their assets wisely and it is wonderful to have the chance to meet them and to offer impartial help and advice.”
David also paid tribute to the “wonderful contribution” of his team, practice manager Nina Sahota, client services manager Linda Askey and practice assistant Mary Taylor.
Possibly the best way to gauge the success of a business, though, is to ask its customers. David Penney’s prospectus carries the thoughts of a wide cross-section of satisfied clients.
One, a customs and excise surveyor, writes: “Since taking the responsibility for the management of my portfolio, David Penney has revitalised its performance. A set of formerly moribund investments has been turned into an active productive asset.”
A retired teacher observes: “David has always tried to ensure that advice given suits my specific requirements and gives me time to make my own decisions. He has continued to monitor performance of my investments and I think he has a genuine concern for my financial welfare.”
And a housewife adds: “David has always put my interests first by giving sound and trustworthy advice without any sales pressure. Following the death of my husband, David has provided help, advice and support to my family and me and is now thought of as a family friend.”
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