North East financial advisers band together

Dec 2 2009 by Chris Knox, The Journal

A TEAM of financial advisers have now set up their own business to help people make the most of their money during the recession.

The team of five directors have set up Oracle Financial Planning and are working from home in East Boldon, Hexham, Sunderland, Houghton-le-Spring and Ashington after leaving their old North East practice last year.

They are now planning to add another three locations next year after taking on their first employee, Alan Anderson in Swalwell.

The team has over 200 years of experience between them, which has allowed it to build up an established client base, and now provides advice on pensions, estate planning, stocks and shares and financial protection.

With each adviser working from home, East Boldon-based director Simon Reynolds believes the new venture will be able to keep its overheads down, which will help fund expansion.

The spiraling financial situation was one of the major catalysts for the creation of the company, with Mr Reynolds seeing an increase in demand for his services from those anxious about their financial position, as well as investors still on the look out for a bargain.

He said: “Many of our customers were worried that their investments would disappear without the best financial advice. Oracle has been formed out of the friendship and trust of six friends who have the knowledge and experience to ensure our clients receive the best service possible.”