A lot has happened since 2005. Tony Blair was the then Prime Minister, Crazy Frog topped the charts and the big decision about your mobile phone was whether to buy a Nokia 6230i or opt for the latest Sony Ericcson. Neither of them could take pictures and the only twitter you heard came from birds!
The frog has never appeared since, thankfully. Nokia don’t make phones these days and Tony Bair left office a long time ago but 2005 also saw the arrival of a new North East business that has stayed the test of time. TMP Wealth Management, formerly known as The Morpeth Practice is a senior partner practice of St James’s Place Wealth Management. It was set up by Peter Grieves and James Richfield who chose Morpeth in Northumberland as their base and are celebrating their 15th year.
It’s easy to describe the pair as chalk and cheese. Peter loves football, you’ll find him on the golf course or in a country pub with a log fire. James is a rugby man and you’re more likely to find him in the country or sliding along the dance floor on his knees! In theory, these guys are poles apart. In practice, they go together like strawberries and cream! The pair are equally at home dealing with a modest pension or handling the finances of one of their many sports professionals, business owners and entrepreneurs. Everyone gets the same welcome and service, whatever your background!
They have decided to celebrate their 15th year with a name change for the practice and the addition of three new directors onto the board. The business will now simplify its title to TMP Wealth Management and welcome Gary Oselton, Dan Smith and Glenn Bolton to the board. The trio bring more than 60 years of experience with them and it’s expected the move will push the success of the business even further.
How has the business grown in the last 15 years?
Peter: There’s now nine of us in the advisor team. We also have 11 support staff and even have advisors based in the South East of England now too. We manage in excess of £275 million pounds of client assets and we’ve got around 1500 clients we look after. So in the last 15 years we’ve seen some exponential growth.
Why the name change?
James: Our business began in Morpeth and we’re proud of that, but we now extend beyond Northumberland, across the UK and internationally. We have clients in Europe and the Middle East. Our telephone number is only one digit away from the local doctor’s surgery and sometimes callers get the wrong “practice”. We can help with finances but not fungal nail infections.
The name TMP Wealth Management is designed to create that link between the 15-year growth from the foundations of the business to an exciting and fresh new brand for the future.
What will the new directors bring to the business?
James: A huge amount. More than 60 years of experience. We’re really pleased with the way all three have developed over the last few years. They bring energy, enthusiasm and a much broader range of opinions to the board. It will be great to have differing views on the same objectives.
What does it mean for clients?
Peter: Succession planning for finances is vital and it’s equally as important within a business. We have a duty to our clients to have similar plans in place. Having people who’ve lived and breathed our values and culture will enable us to drive TMP Wealth Management forward. Clients can rest assured it puts us in great shape to grow organically and that it’s very much business as usual.
What does it mean for you two? James: Sharing some of the responsibilities of running the business and decision making allows Peter and I more chance to do the things we enjoy within the business. We still relish client interactions and delivering exceptional service and advice personally. The changes bring a better balance in our time spent doing that.
