L-r: George Critchley of True Bearing, Cllr Aidy Riggott and Peter Rooney of Mercia
One of the North’s leading firms of Independent Financial Advisers (IFAs) has secured a £115,000 loan from Lancashire Rosebud Finance, managed by Mercia Fund Managers, to support its further expansion.
The funding will allow True Bearing Chartered Financial Planners to create six new jobs and invest in new technology to enhance its customer service.
Based in Euxton, Chorley, True Bearing advises over 3,000 individuals and businesses throughout the UK and has £395m of assets under management. The company has its own legal services arm and operates an online advice service, Bread and Butter Advice.
It was one of the first IFAs in the UK to receive Gold Standard Investors in People, has retained this 3 times and is one of the very few to have been awarded Corporate Chartered Status. True Bearing also won the Financial Business award at Lancashire's Red Rose Awards last night.
Created in 2003 by founder George Critchley and original partners Michael Clarke and Mark O’Neill, True Bearing now employs 64 staff. This latest funding package follows an earlier Rosebud Finance loan in 2014, which enabled it to create 10 new jobs.
Peter Rooney, Investment Manager with Mercia Fund Managers, said:
“True Bearing has succeeded in a highly competitive sector by providing a first class service and excellent quality of advice. The company has been growing year on year. Rosebud has helped to support its growth in the past and this latest funding will allow it to continue its expansion, take on additional advisers and further enhance its service.”
County Councilor Michael Green, cabinet member for economic development, environment and planning, said: "True Bearing must be providing excellent service to their customers, as they have an outstanding retention rate, which is always a strong indicator of the work they’re doing. They’re bringing highly-skilled roles to the financial sector here in Lancashire.
"We are pleased to be working once again with the forward thinking team from True Bearing. It's a sign of Rosebud's successful way of working with companies to provide bespoke support, when they return to us to once again help their growth ambitions."
Rosebud Finance is managed by Mercia Fund Managers on behalf of Lancashire County Developments Ltd (LCDL).