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

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

GOODMAN TAKES PROFIT AND REVENUE DECLINE BUT LOOKS TO CASH IN ON AMAZON'S ARRIVAL

Commercial and industrial property group Goodman (ASX: GMG) has reported underlying full year net profit has dropped ...

ARIADNE CUTS DEMANDS FOR FOUR ARDENT BOARD SEATS TO TWO AHEAD OF EGM

REBEL shareholders have reduced their demands on embattled theme parks operator Ardent Leisure (ASX: AAD) to give the...

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

Related News

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter