Saltus’s partnership programme will allow it to “effectively outsource” part of its growth to adviser partners, Saltus partner, Mike Stimpson, told FTAdviser.
The Saltus partnership programme launched in September to provide “tailored support” for financial planning firms looking to maximise values.
It works with firms to address the biggest challenges throughout their lifecycle - from scaling their businesses to eventual exit.
Sharing experience
Stimpson explained that the programme will let Saltus leverage off the work that it has done over recent years.
He stated: “Saltus has been growing reasonably quickly over the past few years. We have been growing by acquisition but we’ve also gone through quite a lot of growing pains in that period.
“As a result there've been quite a lot of problems that we’ve had to solve that have taken a fair amount of blood, sweat and tears and, frankly, time and money.
“But now having solved some of those things we think there’s a good opportunity to use those things that we’ve already built to help people who are now in the position that we were maybe in five or 10 years ago.”
Saltus added that the programme will provide a “flexible” set of resources, including specialist teams, advice and financial support.
This will help firms make the most of their opportunities, enhance the service they offer to clients and enable them to scale most effectively.
Additionally, the service is said to be designed so that advisers can maximise capital value in their business and realise it at a time of their choosing, either along the growth journey or when they are ready to exit.
A gap in the market
Stimpson additionally stated that, in his opinion, the programme is unique as “looking around at what help is available for financial planning businesses, there’s not a huge amount of particularly forward thinking help around”.
He added: “When you’re trying to grow there are often some really difficult hurdles to overcome and if we’ve already done the work for some of that, we can help other people overcome those hurdles.”
Bespoke assistance
Stimpson also pointed out that the programme depends on the individual partner because “the way it works is we try to understand your business and we try to work out where your pain points are”.
“From there the idea is to use what Saltus has already got to try and alleviate those pain points and make it easier for you to get from wherever you are to where you're going”, he explained.
Saltus added that this application of the model is “critical” to ensure that clients and colleagues are “at the centre of any solution”.
Operational support spans compliance, technology, HR, bookkeeping, marketing, sales, and growth capital, and can be flexed to the needs of an individual firm.
Technology sits at the “core” of the programme, with a significant number of firms in the market still to catch-up with where the industry is today..
