Stockbroker set to invest in resort jobs

Stuart Brookes, joint managing director for stockbrokers Hargreave Hale Ltd.
Stuart Brookes, joint managing director for stockbrokers Hargreave Hale Ltd.
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A Blackpool family firm whose stock is rocketing is poised to take on more staff as it prepares to open a new office in the resort.

Stockbroker Hargreave Hale will be recruiting for administration staff in the new year as it rapidly expands its business towards a £35m turnover.

Assets under management at its Blackpool office alone have more than doubled to £115m since 2012, and the branch has employed 18 new staff in this time.

As a result of the significant growth, Hargreave Hale has just agreed to take a new 20,000sq ft office in Whitehills Business Park, which is being built to the company’s specification and should be ready in December 2015.

The company has seen huge growth in 2014, adding £2bn to funds under management and employing 30 new staff to bring total head count up to more than 200.

Stuart Brookes, joint managing director based at the Blackpool office said they were keen to recruit even more staff for the administration centre in the resort.

He said: “We opened our York office in August this year and we are looking at another expansion early next year in Nottingham.

“In terms of Blackpool, we have two buildings here at Whitehills and we have just contracted to take another.

“We have just over 205 staff altogether having added 40 in the past two years and 108 in Blackpool.

“Blackpool provides the administration for the firm, the IT and management team but we also have client services here with around 12 people.

“We will be recruiting. We are looking for quality admin staff that can provide support to our teams. Ideally graduates that probably want a career in finance but do not want to go into accountancy.

“We have always been based in Blackpool and have no plans to move our administration from here. We view our staff as a family this has always been a family firm and we value our team.”

“Another driver of our success is our staff. A lot of the staff here in Blackpool have been with us for 20 years.

“They are very loyal and we try to treat them well. We still have the family firm ethos and if you invest in your staff you want to try to keep them and their expertise.”

The firm was founded in 1897 by Marsden W Hargreave and descendants Giles Hargreave and Jeremy Hargreave act as current chairman and director.

In 2001 the firm incorporated and took in a South African bank Investec as a shareholder. Since then it has grown spectacularly, particularly over the past two to three years with dramatic growth in funds under management and staff numbers

Stuart said growth has come from a series of reasons.

He said: “Our Marlborough Unit Trust has grown £2.5bn to just under £4.5bn – doubled since April 2013.

“The growth of the unit trusts management has driven our private client business, raising our profile and letting people get to know our brand.

“We offer bespoke financial services, we don’t try to put people into products. We tailor the portfolio to the individuals. All of our new clients come from referrals.

“The aim is to grow our funds under management and take them to £5bn, that’s the target which we think is achievable.

“The turnover this year is expected to be £35m up from £32m and the profit £5m up from £4.7m.

The company also has offices in London as well as Lancaster, Carlisle Worcester and Bangor.