Young Entrepreneurs 2010: Nicholas Sinclair

Written on the 3 December 2010

Young Entrepreneurs 2010: Nicholas Sinclair

Strong revenue growth, the addition of 10 new staff members and a bullish expansion strategy are not the only reasons Nicholas Sinclair is celebrating.

Out of more than 10,000 national applicants, the Wealthfarm Group founder was named one-of-six finalists in the 2010 Association of Financial Advisers Adviser of the Year Awards in Sydney.

The awards pay tribute to individuals who not only run highly successful financial advisory businesses but contribute strongly to the financial services industry.

While the gong places Sinclair as one of the top six financial planners in Australia, it was an honour just to be nominated among his peers.

“The standard of my peers who were nominated was extremely high and I believe the judges found this year’s submissions to be stronger than ever,” he says.

“The last 12 months have been an extremely challenging period for our entire industry and to maintain our clients’ financial portfolios to the best of our ability has remained our upmost priority.”

He may cite challenging conditions, but Wealthfarm Financial Planners has $140 million under management and Wealthfarm Accountants and Propertyfarm were both launched last year as part of a diversification strategy.

“It can be difficult for clients of financial planners to then have to relay information and advice to several other service providers in finance, insurance, accountancy and so on,” says Sinclair.

“We’re taking that hassle away from our clientele by offering a wider range of financial services rather than just financial planning. Our existing clients have loved being able to come to us for all their needs, while we’ve also picked up many additional customers that may not have been interested in financial planning but are in the new offerings.”

Sinclair says challenges arise in keeping up with growth while maintaining and securing suitable employees.

“In this ever-changing world where people are constantly increasing their levels of expectations, it is important to keep up with the demand in order to generate business as well as maintain key team members,” he says.

“While it is important for me to have a strong hand in the overall running of my business, I understand that the management team need to run the business in an effective and professional manner.

“By continually measuring where I am at on this business plan and setting higher goals for the future enables me to focus on the overall picture.”

Wealthfarm is turning over $2.15 million across offices in Southport, Brisbane and Mackay.

Sinclair expects a further 50 per cent revenue growth for FY11.

Nicholas Sinclair
Wealthfarm Group
FINANCIAL PLANNING

Age: 29
Business Est: 2001
Staff: 32
Growth: 58 per cent
Turnover: $2.15 million


Latest News

WOOLWORTHS CLAIMS LEGAL VICTORY IN STOUSH WITH LOWE'S

SUPERMARKET giant Woolworths (ASX: WOW) has been given the go-ahead to sell its Masters property assets after winn...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

PRICELINE STORE ROLLOUT BOOSTS API'S FULL YEAR PROFIT FORECAST

Australian Pharmaceutical Industries (ASX: API) has booked a rise in half year net profit of $29.1 million on the bac...

CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

IT MAY be cool by the sea at Redcliffe, however strong sales at Kyko Group's Mon Komo development prove that t...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter