'What we sell is trust': How Redmayne Bentley is moving with the times as it marks 150 years in Leeds

Now 150 years down the track, the firm he founded has greatly evolved its offering and grown to have more than 25 offices around the country as one of the largest independent investment management and stockbroking firms in the country but has retained its Yorkshire roots with its head office still in Leeds.

James Andrews, a partner and director of investment management for Redmayne Bentley, says: “We really value our presence in Leeds – it is integral to the history of the business and it is still a really good place to do business."

The firm is in rude health, with its recently published results for the year to March 31, 2024 showing a 59 per cent increase in profits to £7.06m and revenues up 11.7 per cent to £36.2m.

At the recent Investors’ Chronicle Celebration of Investment Awards, Redmayne Bentley received five star ratings in the Selective ISA Provider, Stockbroker and Wealth Manager categories; scores based on reader surveys and evaluated on factors like customer service.

Last summer, the company completed its acquisition of Liverpool-based Blankstone Sington and taking on its 1,700 clients following that firm going into administration. In its latest Companies House report, Redmayne Bentley said it is “well placed to take advantage of new opportunities in the industry”.

Andrews says: “We have just announced some really strong results and we are having another good year. Acquiring Blankstone Sington and opening a Liverpool office is in line with our strategy to grow the business. Another key part of that is driving organic growth through areas like financial planning.

"We want to make sure our clients are getting the right level of attention and people are making good decisions.”

Andrews says the company is one year into a five-year growth strategy that does include looking at potential acquisitions but adds the firm’s structure as a limited liability partnership means it takes a prudent approach to such decisions.

"Previously we have been reactive in terms of acquisitions and we would liek to be more proactive. We are open to conversations with not only firms across the UK but certainly local firms too.

"The biggest thing for us is stable growth. Personal service runs right through the business and our USP is our people, the expertise of our people and the way we look after clients. We think you should have access to the person looking after your money.

"I guess what we sell is trust. You build that through person to person contact and for a lot of people, you want to look into the whites of the eyes of the person looking after your money.”

The firm’s bespoke investment management service constructing a individually-tailored portfolio of assets like bonds, shares or property is aimed at those with over £100,000 of investable money but Redmayne Bentley also does offer an online platform for clients with £20,000 or a Junior ISA worth at least £9,000.

Andrews says many of their clients are either starting retirement or approaching it and having built up capital throughout their working life are looking for expert support in making the most of it.

He says the company is also piloting the use of artificial intelligence in areas like analytics to improve the service it provides to clients.

"When you have been around for 150 years and in a partnership model, you can look antiquated to some people,” he said.

"But we are focused on moving the business forward and have a really modern outlook. You don’t last 150 years if you are not looking forward enough.”

Andrews himself has been with the firm since 2016, having previously been a UK equity manager for the West Yorkshire Pension Fund and then working in Leeds for KPMG as head of equity research.

He initially joined as head of investment management and has since worked his way to director and then partner level.

"The decision to leave KPMG was not an easy one but the opportunity was too good to turn down,” he reflects.

“The opportunity to help develop the investment management side of the business was really exciting and the opportunity still excites me in terms of where we can go from here.”

Redmayne Bentley runs an established apprenticeship scheme and Andrews says that many of those who go through training with the firm end up staying long-term.

Last year, the company put on a ‘Focus on Finance’ day for students from Elliott Hudson College in a bid to encourage them to think about careers in the sector.

Andrews says the firm is keen to offer opportunities for people to build careers in Yorkshire.

"Our sector is prominent in Leeds but it is nowhere near the scale of London. If you want that opportunity to grow and progress and then eventually have senior leadership opportunities there aren’t too many places to go and it makes us quite an attractive proposition.”

With recent stock market turbulence in the US following the emergence of Chinese artificial intelligence firm DeepSeek as a challenger to US tech giants, Andrews says an important investment principle is to focus on business fundamentals and revenue over short-term sentiment.

He says an advantage for Redmayne Bentley of being based outside of London is the opportunity to take a broader view.

"There is a lot of groupthink in the City and you can get very focused on the short-term. Being outside of that does help and obviously not being listed on the stock market also means you can focus on the long-term. We believe in the long-term.”