Gill Financial opts for employee ownership
Team at Gill Financial
An independent financial adviser (IFA) has become an employee-owned business, believed to be the first in its sector to make the transition.
Gill Financial, based in Montrose, has set up an employee ownership trust (EOT) on behalf of the seven staff.
Roy Gill, who launched the business with his wife Lesley in 2000, said he receives regular offers from potential buyers of the company which manages £100 million on behalf of clients.
“An acquisition would have put so much at risk – and I hated the thought of that. For a start I didn’t want any of our staff’s futures put into uncertainty, or for the culture to change so significantly they felt forced to leave.
“The brand has been built up through hard work – and that’s a precious thing.”
The transaction was handled by Stirling-based Ownership Associates.
Legal advice was by Lindsays Solicitors and accountancy guidance by MMG Archbold.