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Helping Bluecoat Wealth Management forge new connections
Unbiased is helping Brighton-based Bluecoat Wealth Management connect with new clients all over the UK.
Published 30 March 2022
• Founded in 2007
• Brighton-based business with clients across the UK
• Offering holistic wealth management, financial planning and legal guidance
A family business
After working for advisory firms in London, Bluecoat founder Robin Clarke decided to set up his own firm that was closely tied to his core values of family and supporting people to preserve intergenerational wealth. Four years ago, stepson David Langley joined the business and has helped it grow consistently, bringing in more staff as its client needs increased.
Helping a new generation of clients
David and the team noticed a worrying lack of generational planning among their clients, which would enable money and assets to seamlessly transfer to the next generation. To combat this, Bluecoat partnered with a legal firm so they could offer a holistic, full-service approach to this important topic. Now, clients can sort out matters like wills and trust in tandem with planning for their financial future.
Technology is also playing an important role in how Bluecoat works with its clients. Even before the pandemic, the firm worked with cloud-based technology and it was connecting with people in a digital way. It has been integrated into every part of the service, including Bluecoat’s advisers using iPads equipped with bespoke apps in discovery meetings to gather information seamlessly.
Supporting the next generation of advisers
To help young people build a career in financial advising, Bluecoat launched its summer internship programme. Every year, it brings one young person into the business for six to eight weeks. The scheme has become so popular that it has already received three applications this year, before the position has even been advertised. Additionally, the firm has recruited an apprentice paraplanner.
David Langley, Director, says that there is a gap for new financial advisers, which the firm is filling by offering an apprenticeship programme.
“If we want to help and advise our clients for the next 30 years, we need to train a new cohort of advisers that are going to offer the next generation of advice.”
David Langley, Innovation Award 2021 Winner
Boosting trust in financial services
Bluecoat’s goal is to remove the pervasive culture of mistrust that still hangs around the world of financial advice.
“Scandals such as the pension misselling scandal have damaged people’s trust in financial advisers. We’ve also seen advisers selling their clients the world as they were operating on a commission basis, but not delivering on their promises.”
Being part of a respected platform like Unbiased is helping to connect Bluecoat with new clients who are seeking financial advice they can trust. Since joining in 2019, the firm has received many leads from potential clients who are actively looking for financial advice.
“Unbiased connects us with the right sort of clients who are ready to engage with a financial adviser. We’ve found it challenging to maintain consistency with our leads, which platforms like Unbiased are helping us address.”
Bringing clients more peace of mind
Financial planning can help people prepare for big life events, such as retirement, or better manage their wealth in a way that aligns with their goals. David says that his clients always say they feel reassured after speaking to a financial adviser. But he is also completely transparent about the fact that, with a wealth of information and financial planning tools at their fingertips, people have never been in a better position to take control of their financial future.
“Not everyone needs to continuously work with an IFA, but the majority of people will benefit from getting some specialist advice on matters that are constantly changing and updating. People who have spoken to us always say that they’ve got greater peace of mind from getting some sort of plan in place.”