We have reached our 10-year milestone, a remarkable moment to take a step back and reflect on just how far we’ve come in the last decade.
Where we started
Five Wealth officially came into being on 1 August 2016. We started with 15 people, shortly becoming 16, and on day one we had no clients. What we did have was a wage bill, premises to pay for, regulatory costs and the other expenses that come with building a business from the ground up.
As anyone who has done the same will know, it takes time for revenue to develop. In our first year, our belief in what we wanted to build, our ambition and our team never wavered, although we knew there was a lot of hard work ahead.
And, thanks to our collective effort, by the end of our first year, we had generated revenue of £1.56m, and the business was in profit.
A decade of growth
Five years later, revenue had reached a high of £2.7m. That was no small achievement, particularly with Covid-19 presenting challenges to businesses across all sectors. At that point, our assets under management had grown to around £656m and we had a team of 27 people.
Now, another five years on, we are looking back at what has changed again since then. In our current company year, revenue has exceeded £5.5m, and our assets under management have surpassed £1.26bn. There are now 39 of us at the firm, after co-founder Phill Dewhurst retired in July.
However, our growth can be measured in so much more than revenue, assets and headcount.
We are now in our fourth office, have completed two full adviser succession planning exercises and are looking ahead to completing three more. We have celebrated numerous exam successes and supported colleagues with achieving Chartered status. We were also named PFS Chartered Financial Planning Firm of the Year for 2024-25.
Alongside these achievements, we have raised more than £100k for the Support Dogs charity and supported many other incredible initiatives.
Helping clients realise their ambitions
Over these 10 years, and throughout the changes, what has remained a constant is our support for our people and clients.
The growth of our client base reflects the trust that has been placed in us to guide people through the most important moments of their lives. Whether helping someone pursue a long-held ambition, prepare for retirement, sell their business, pass wealth on to the next generation or navigate unexpected changes. Our role has always been to provide clarity, confidence and support.
We are privileged to help clients move into their next chapter and provide them with clarity and assurance in their financial plans.
Building Five Wealth for the future
A major moment for us was when Foresight invested £6.7m in the business in 2023. The investment has helped to facilitate our growth plans, strengthen the leadership team and create more opportunities for progression and development.
As Steve Jordan steps into the role of CEO, it marks another milestone for the business. His profile in the Manchester business community and understanding of the nuances of our industry makes him the ideal person to take our business forward as we enter our second decade. With his wealth of experience in our clients and culture, Steve will lead Five Wealth as the business moves through its next phase of growth, remaining focused on organic growth, new hires and exploring tactical acquisitions.
A thank you to our team and partners
We want to thank everyone in our team and those that have been part of Five Wealth over the years for their commitment and hard work along the way. To our clients and partners, thank you for your continuous support and helping us get to where we are now.
Here’s to the next 10 years of Five Wealth.
The information contained within this article was accurate at the date of publication and is subject to change.