Fri, 04 Apr 2025 | BUSINESS SALE
Leicester-based financial services firm Westerby Group has transitioned to employee ownership. The company will now be run by an Employee Ownership Trust.
All of the ordinary voting shares in the company, of which chairman and founder Les McLintic owned the controlling interest, have been transferred into the trust.
Founded in 1986 with just three employees, the Westerby Group is today comprised of three businesses. Westerby Investment Management Limited is based in Andover Street in Leicester city centre. Westerby Trustee Services Limited and Westerby Pension Administration Limited operate from The Crescent, King Street. The Group also has offices in Weymouth and Manchester, with a total workforce of over 100 people.
Westerby Investment Management Ltd is a provider of specialist financial, taxation and independent investment advice. Established in 1996, Westerby Trustees Services Ltd are experts in the trusteeship and administration of Self Invested Personal Pension Schemes (SIPP), whilst Westerby Pension Administration Ltd specialises in the trusteeship and administration of Small Self-Administered Schemes (SSAS).
“The time is right for me to transfer my shares for the benefit of our very dedicated, enthusiastic and hard-working employees,” said McLintic. “We have thrived through the many challenges over the past four decades to become the flourishing, successful business we are today. I firmly believe that my decision to give our staff this meaningful stake in the future of Westerby is the best way to build on our legacy of success in future decades.”
The Westerby Group's total assets under trusteeship, administration and advice are now more than £1.66 billion servicing in excess of 5,000 clients.
McLintic added: "As a Leicester company with a national reach, we are proud to be firmly rooted in the city and through our ongoing support of local organisations over the years including LOROS, the Leicester and Rutland Polo Club, Curve Theatre and the FA County Cup. So it's fitting that the hardworking people who make Westerby the success story that it is in 2025, will now have the opportunity to benefit from its future profits."
Find out more about the growth in popularity of employee ownership trusts
An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
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