Financial services firm Milecross invests £1.5m in expansion of Scottish network

Milecross chief executive Paul Dalzell (left) with Simon Gordon, regional manager at Milecross Scotland

NEWTOWNARDS-based financial services business Milecross Financial has invested £1.5million to further expand its Scottish operations through key acquisitions and partnerships in Glasgow, South Lanarkshire and Aberdeen.

It further advances the firm’s plans to double in size throughout the UK in the next five years and comes just months after it successfully launched its offering in England with a number of Yorkshire Building Society agencies in north west England.

With over £300m funds under management, Milecross is one of the largest Openwork Partnership businesses in the UK with over 30 offices and 80 advisers already working from branches in Northern Ireland, Scotland and England.

These numbers will grow to almost 100 following the announcement while the network continues to identify additional opportunities for growth.

Milecross chief executive Paul Dalzell said: “Our core values of long-term sustainability, strong customer focus, colleagues who are valued and having a positive engagement with local communities are mirrored by each agency and adviser who has joined our operation in Scotland.

“We now have an even broader reach and range of services and support for clients across the region. Each agency has the flexibility to augment their own suite of products with the additional services Milecross can deliver including investments and mortgages from other providers through our financial advisers now based in each location.”

Simon Gordon, regional manager at Milecross in Scotland, added: “The new businesses that have joined Milecross Scotland will benefit from all back-office services available from our existing regional hub in Aberdeen including compliance and administrative support, cost efficiencies and IT support.

“Our aim is to collectively grow Milecross by helping each of these agencies maximise their potential - giving their clients access to some of the best deals in mortgage and protection products and expert investment advice tailored to their needs.

“This is just the next step to wider expansion plans for Milecross, and we are excited to bring our skills and experience to the area through our unique business model which has helped us achieve great success in Northern Ireland.”

The Openwork Partnership is one of the UK’s largest networks of financial advisers and is 90 per cent owned by partners like Milecross.