A FINANCIAL services firm has “broken the mould” by becoming the first Scottish business in its sector to become entirely employee-owned.
All shares of Montrose-based Gill Financial have now been placed into an employee ownership trust (EOT), with all seven staff becoming direct beneficiaries of the partnership.
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The trust will take on full ownership immediately, securing the future of the company which looks after £100million of assets for its clients.
The firm was launched by Roy Gill and his wife Lesley in 2000.
He said: “This move is about the brilliant team here and our clients first and foremost. A business does not exist without clients and we need to look after them before anyone else.
“An acquisition would have put so much at risk – and I hated the thought of that. For a start I didn’t want any of our staff’s futures put into uncertainty, or for the culture to change so significantly they felt forced to leave.
“We had to break the mould.”
The journey to becoming employee-owned started a couple of years ago, when Roy appointed Stephen Bain, a qualified financial adviser able to step into a senior role, supported by Roy’s son Tayler, who joined in 2017 and should finish his financial qualifications next year.
Laura Rose who works as an in-house mortgage adviser will become a director, alongside Stephen and Tayler, while client service manager, Bev Waterson will also become the trustee responsible for representing all employees and the firm is also supported by administrator Lorraine Sutton.
Roy and Lesley will remain with the company until the handover takes place over the next three to four years, with Roy taking a less active role in the business while still passing on his knowledge and guidance.
