Accountants to branch out into mortgage advice

Published on Thursday 26 June 2008 21:42

ACCOUNTANCY firm Scott Moncrieff announced it is to branch out into mortgage advice as it reported a modest rise in turnover, despite "challenging" trading conditions.

The firm, which employs some 200 people at its offices in Glasgow and Edinburgh, said revenues grew by 4 per cent to 13.1 million in the year to the end of April, boosted by a strong performance in areas such as business technology, as companies look to streamline in a tough economic climate.

And the partnership is also branching out into mortgage advice, having bought up Helensburgh-based financial adviser William Lawler.

Scott Moncrieff Mortgages is to operate initially from Lawler's Glasgow offices, but the firm has plans to expand to Edinburgh in the future. The arm will continue to be run by William Lawler founder Bill Lawler, who will have a team of two staff.

Scott Moncrieff managing partner Nick Bennett said: "We saw a gap in the market for mortgage advice and have decided to expand."

He added he was expecting a similar level of growth in the current financial year, saying that the firm's high proportion of business in the public sector stood it in good stead to weather the economic storm. Clients include Scottish Ballet and the National Theatre of Scotland.

He said: "Revenue from our business technology and consultancy team rose by 33 per cent last year.

"It is clear that we all face more challenging economic conditions, at least in the immediate future, although this can also present opportunities.

"We are experiencing rising demand for services that increase business efficiency, including those of our business process and technology consultants, tax team, business continuity consultants and risk management specialists."

Bennett said he expected the current financial year to report continued expansion, and added he hoped to cash in on a glut of high-quality staff looking for work as a result of the credit crunch.

&#149 AS Fisher & Co has merged with Martin Aitken & Co to create what is being described as "Glasgow's largest mid-tier accountancy firm".

The merger is expected to push the combined entity's annual turnover above the 2m mark.

Stephen Neville joins Aitken from Fisher as a partner, while Jack Shore joins as a consultant.