Asset manager marks 40 years in business

Steel has cause for anniversary celebration

Alan SteelToday is a special one for Alan Steel Asset Management and a cause for celebration: it’s 40 years since Alan set up his eponymous business.

“It was 2nd July, 1975. I rented a desk/chair and phone from local accountants in Linlithgow led by the former Hearts centre forward Donald Ford who helped enormously in the early years,” says Alan.

“Forty years later ASAM is still in Linlithgow, employs 42 staff – of which nine are advisers  –  and manages £930 million on behalf of a couple of thousand clients.”

It’s also something of a double celebration as a fortnight ago at the Money Marketing Financial Services Awards in London , ASAM was runner up in the UK Best Investment Advisor Category. That’s the third time it’s been runner up in the last 12 years, adding to its three third places and three winner spots.

“Funny thing is,” says Alan,”when I started in early July 1975 people said I was mad, given the dire financial conditions, what with trouble in the Middle East and coups elsewhere, not to mention high unemployment and ropey financial conditions generally.”

Good to know nothing changes then.

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