Technological innovation and reduced fees set to ‘revamp’ industry
Generation Financial Services Ltd (‘Generation’ or ‘the company’) today announces the launch of a new employee benefits division, headed up by Andrew Waller (50) who joins Generation from Cavanagh. Generation is the first IFA in Hertfordshire to specifically launch a dedicated employee benefits division and to integrate this at board level with its core IFA business. The company is based on the M11 business corridor in East Hertfordshire and is one of the county’s leading independent financial advisers.
Generation prior research found that a lot of company run benefit schemes are often poorly executed, often mis-understood or managed; and with a lot of commission and confusion built into legacy products, giving poor value to clients. With the addition of a dedicated employee benefits division and the appointment of Andrew, Generation will be able to support larger UK business and expand into corporate customers.ÂÂ
Marc Barnes, co-founder of Generation explains, “It is an exciting time to expand our business into the employee benefits sector and market conditions are perfect for this timely addition to our current operations. We really feel that with the calibre of the personnel joining the new division and our dynamic approach, we expect Generation to grow and become one of the leading advisers to UK business on employee benefits and group schemes.  We are backing up this desire with with solid processes and the latest technology to ensure companies really do get something ‘new’ and different from us. Andrew is a well respected and seasoned employee benefits expert and will bring a good deal of past experience to our board.”
Andrew Waller, board director, continues, “Before joining Generation, I found myself tangled up in red tape and management process. I wanted to work with a company that provided a team spirit but encouraged entrepreneurial flair, whilst providing a very high level of service. Above all, I believe that greater efficiency, which ultimately provides more cost effective products, can be delivered through the Generation business model. My vision is to provide corporate clients with a service that is hinged on the overriding ethos of ‘partnership’. I want to work with our clients and not for them; I want them to understand that Generation is part of the team so that we can deliver better communication to staff and HR colleagues. I believe that employee benefits providers have been charging excessive fees, but at Generation the use of technical innovation means we can deliver a fee structure at a much more sensible price.”
Generation Financial Services Ltd, which is authorised and regulated by the Financial Services Authority, was established in 2008 and specialises in Pensions, Investment and Corporate advice bases itself in Bishops Stortford and operates in London and surrounding counties.
The company developed by Marc Barnes and Shai Patel will allow Andrew to develop Generation Employee Benefits into a leading service provider. Andrew is set to grow headcount in his division immediately.
