In August 2010 Prest Financial successfully completed the merger and acquisition of the clients of Stockport based A J Smith & Co.  Here Andrew Smith the former proprietor of A J Smith & Co reflects on the experience of selling his business:-

“Reflections on a merger”
The months leading up to completion of the sale or merger of a business are particularly stressful for the seller, whose mind will be continually beset by concerns about the irrevocable step about to be taken. Thoughts centre on whether or not this is the right time, and on the choice of merger partner or buyer. Having been a buyer in the past, I have realised that it is much less stressful to be considering an acquisition, which is, of course, an addition to an existing business.

In the past year and a half, since the completion of the merger of the business of A J Smith & Co. Ltd with Prest Financial Services Ltd., I have been convinced that both parties made the right decision, and I have been very pleased with the way that the transfer of the operation of the business has been handled.

The words “value added” have possibly been somewhat misused, but I do believe that this is exactly what the Directors, Advisers and Administrative Staff at Prest Financial have done!  Their new offices, with on-site parking, together with the relaxed and friendly aura created by the staff, have provided a welcome for all visitors. This convivial atmosphere conceals a very high level of professionalism and dedication to offering an extremely high level of personal service, all of which has been recognised by many of the comments and testimonials received from former A J Smith & Co. Ltd clients – all unsolicited I hasten to add!

Linked to the above is the continuing commitment of the Company to further research and development of the services provided, both in terms of the level of technical expertise, and the suitability of the market products available. In addition, constant monitoring of collective investment and other funds and investment opportunities on offer, provides Advisers and Administrators with up to date information on the returns and levels of investment risk offered by all asset classes, enabling them to act accordingly.

All of the above has certainly added value to the service that my former clients are now receiving, in many cases at no additional cost.  

Whilst none of us can accurately predict what the future may hold, I do think that it is reasonable to say that the merger has been the success that both parties hoped for when they first entered discussions to consider the possibility several years ago. This now means that I can retire, confident in the knowledge that all the relationships that I have built up over the last 30 years will be continued. Furthermore, the improvements and innovations to the level of service for which Prest Financial Services Ltd. are constantly striving, will mean that I will entertain no fears about meeting former clients in the future at the supermarket checkout, or on a dark and stormy night! 

Andrew Smith – February 2012

In August 2010 Prest Financial successfully completed the merger and acquisition of the clients of Stockport based A J Smith & Co.  Here Andrew Smith the former proprietor of A J Smith & Co reflects on the experience of selling his business:-

“Reflections on a merger”
The months leading up to completion of the sale or merger of a business are particularly stressful for the seller, whose mind will be continually beset by concerns about the irrevocable step about to be taken. Thoughts centre on whether or not this is the right time, and on the choice of merger partner or buyer. Having been a buyer in the past, I have realised that it is much less stressful to be considering an acquisition, which is, of course, an addition to an existing business.

In the past year and a half, since the completion of the merger of the business of A J Smith & Co. Ltd with Prest Financial Services Ltd., I have been convinced that both parties made the right decision, and I have been very pleased with the way that the transfer of the operation of the business has been handled.

The words “value added” have possibly been somewhat misused, but I do believe that this is exactly what the Directors, Advisers and Administrative Staff at Prest Financial have done!  Their new offices, with on-site parking, together with the relaxed and friendly aura created by the staff, have provided a welcome for all visitors. This convivial atmosphere conceals a very high level of professionalism and dedication to offering an extremely high level of personal service, all of which has been recognised by many of the comments and testimonials received from former A J Smith & Co. Ltd clients – all unsolicited I hasten to add!

Linked to the above is the continuing commitment of the Company to further research and development of the services provided, both in terms of the level of technical expertise, and the suitability of the market products available. In addition, constant monitoring of collective investment and other funds and investment opportunities on offer, provides Advisers and Administrators with up to date information on the returns and levels of investment risk offered by all asset classes, enabling them to act accordingly.

All of the above has certainly added value to the service that my former clients are now receiving, in many cases at no additional cost.  

Whilst none of us can accurately predict what the future may hold, I do think that it is reasonable to say that the merger has been the success that both parties hoped for when they first entered discussions to consider the possibility several years ago. This now means that I can retire, confident in the knowledge that all the relationships that I have built up over the last 30 years will be continued. Furthermore, the improvements and innovations to the level of service for which Prest Financial Services Ltd. are constantly striving, will mean that I will entertain no fears about meeting former clients in the future at the supermarket checkout, or on a dark and stormy night! 

Andrew Smith – February 2012