£150million milestone for north-east firm

Scott James & Associate

A NORTH-EAST investment specialist has recorded its best year to date by exceeding £150million in funds under management.

Founded in 2015, Scott James & Associates is an appointed representative of St. James’s Place Wealth Management, based in the heart of Aberdeen’s west end with an additional office in Blairgowrie.

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Between January and December (2023), funds under management by Scott James & Associates increased 18 per-cent from £128.4million to £151.7million. This figure has now more than doubled since December 2020, rising from £74million over that period.

The business continues to experience significant demand for sound financial advice, particularly around retirement, investment, estate and tax planning, from families and individuals across Aberdeen, Aberdeenshire, Angus and Perthshire.

Since the turn of the year, funds under management have increased by a further £6.5million representing a strong start to 2024.

Scott James & Associates has largely grown through recommendations from existing clients and contacts with positive feedback and referrals continuing to be a major factor in double-digit growth. Today, it supports more than 1,100 clients – with around a third of these having been onboarded during the past two years.

Scott James, director, commented: “I’m extremely proud of what the team has achieved not only over the past 12 months, but year after year through tremendous hard work and dedication to their profession. While we ended last year on a high by passing the £150million milestone, 2024 is already off to a positive start with more than £6.5million in new business secured across a range of services.

“The continued loyalty and support of our clients has been the driving force behind our success to date. Almost every year since starting the company, we’ve achieved close to 20% growth and I’m confident we can continue in the same vein with anticipated levels of new and repeat business.

“We continue to support our clients with retirement advice, including pension consolidation, as well as growing demand from local people looking for advice around inheritance and what to do with their estate; something which is likely to increase in the coming years.”

Keith Willett, regional director for Scotland and Northern Ireland at St. James’s Place, said: “We are delighted to support Scott James and the team as they serve the needs of clients across the north of Scotland and beyond.

“Scott has built a great practice and has a superb reputation for giving great advice that allows people to reach their financial goals and is equally passionate about developing lifelong relationships to serve that purpose. We celebrate with them at this milestone and wish them well for the future.”

Scott James & Associates has benefited from organic growth as well as several strategic acquisitions and expanded from a three-person outfit in 2019 to an 11-strong team, including four financial advisers and one mortgage adviser.

In addition, Ceri Dey has recently been promoted to admin team lead following her return from maternity leave, while the business is considering additional hires or right-fit acquisitions in future.

Scott James added: “We have an extremely capable and talented team, each bringing significant expertise in various aspects of financial management. We have buy-in from all the team, pulling in the same direction to deliver the best possible service while helping our clients achieve their personal goals and aspirations.”

Scott James & Associates previously acquired two fellow St James’s Place practices, Blairgowrie, Perthshire in 2019 and Cruden Bay, Aberdeenshire in 2022, in addition to purchasing the client base of another partner practice located in Arbroath.

Director Scott James has also been a proud advocate of the St. James’s Place Academy since its inception in Scotland in 2016, having mentored three candidates to help realise their goal of becoming certified professionals.

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