Sean Gray and Jim Thomson, founding directors of Thomson Gray Wealth Management, explain how, with a little help from Russell Investments, they are tweaking their processes and management to enable profitable growth in their business while adhering to an RDR- compliant fee structure.

Thomson Gray Wealth Management is a provincial IFA firm based in Northampton, founded by ambitious and forward-thinking directors, Jim Thomson and Sean Gray in 1996. Eighteen months ago, the firm took a closer look at Russell Investments, a relatively new player in the UK retail market but with a strong institutional track record.

“Russell has been around for a long time, providing investment and consultancy services to corporate clients, but they are relatively unknown to many UK advisers,” explained Jim Thomson.

“We were looking for a robust investment solution that would meet the needs of our customers and we were particularly impressed by the thoroughness of Russell’s investment process and the sophistication of their proposition for retail investors.”

At the same time Thomson Gray enrolled their business team on Russell’s Practice Management (RPM) programme, currently facilitated by seasoned business coach and ex-NFL coach, Steve Moore. 

RPM is a tailored business coaching programme that is designed to help advisers build successful and profitable businesses. The 18-month programme combines quarterly face to face business seminars and monthly telephone coaching sessions to help advisers integrate new strategies into their businesses. “The RPM programme, together with the support of the team at Russell, has really helped us to assess our business priorities and to focus our resources appropriately,” said Sean Gray.

“By following the programme we have managed to put in place the building blocks for the future prosperity of the firm.”

The programme in the UK is managed and facilitated by Steve Moore, the original architect of this highly acclaimed business consultancy programme. “Steve Moore understands the challenges facing adviser firms in the UK and is able to pass on his substantial business knowledge in an easy to understand and enjoyable manner,” adds Sean Gray.

“I would recommend the programme to any adviser firm looking to grow in an RDR ready environment.”

Thomson Gray provides Financial Planning and wealth management solutions to retail investors.