What is your start-up story?
Penguin Wealth LLP was born in October 2012, Get Financial Advice (GFA) was launched Sept 2013 and increaseyourpension went live at the end of November 2013. We started with five advisers and three staff. Our five key advisers are still in place, and we now have two trainee advisers and seven staff. Penguin Wealth is a local financial planning brand in Cardiff, and we launched GFA to be a national, online and phone advice service to bridge the advice gap and help more people get vital information and, if needed, advice.
We are trying to fill the gap left by the banks, building societies and insurance companies who pulled out of the market in the run up to the Retail Distribution Review.
We applied for a Welsh Economic Growth Fund Grant – this is a match funded grant to get the business going quicker, faster, and help improve our offer.
What is your turnover, employee numbers etc compared to previous years?
Having launched in October 2013, we have already used our funding to acquire more office space, more equipment, spend on marketing and take on a number of graduates. We are working to increase this over the coming year. We have high hopes for the coming year, and will be able to update on turnover after our first full financial year.
What products or services do you provide?
GFA will offer all financial services products and our long-term goal is to be the premium, fully independent online advice brand in the UK.
What problem does your company solve?
We help those that think they cannot afford advice, who don’t know where to turn and don’t want to visit someone’s office or invite someone to their house. We also want to help people who want to do it themselves and get some advice along the way.
What is your USP?
Get Financial advice is the first online, independent advice service, with the aim of helping to bridge the advice gap.
Any thoughts on the future of your company?
We want to be the dominant brand for independent, online advice.
Do you have any tips for managing suppliers and customers effectively?
Process, process, process – deliver on what you say you will – and put customers at the heart of your business.
Any advice for the Government?
What we really need if more support for businesses, with a simple solution being to reduce business rates.
What is your attitude towards your competitors?
We are happy to see healthy competition. What we want to see companies differentiating themselves – and having a belief in what they are doing.