The History of Patterson Mills

The story behind our expertise and the creation of Patterson Mills.

Edward Mills began working in the financial sector, having become a management trainee at one of the UK’s largest retail banks.

Upon disillusionment with the promotion system and the realisation that large corporates are more like an oil tanker than a speed boat, Edward’s aspirations matching more the latter, he joined a financial advisory independent broker in Central London. In the same year, this move led to the establishment of Edward’s first business, starting in the mortgage and pensions sector during the days of a huge UK property boom.

The next few years saw Edward’s business expand more and more into the financial planning and pensions sector, encompassing employee benefits by the end of the decade.

The Financial Services Act 1988 was now in full swing, creating the benchmark regulations for all UK advice firms. This new regulation regime in the UK opened up real opportunities for the sector, with the first set of specific financial planning qualifications brought into place.

For Edward, this presented the chance to get a step ahead on the majority of slow-to-adopt competitors in the marketplace and so, by 1992, Edward had become one of the UK’s first holders of the Advanced Financial Planning Certificate from the Chartered Insurance Institute (CII).

Due to the business’s continued success, Jeanette Mills joined her husband in the family business as it continued to grow with careful nurturing of professional connections in the accountancy and recruitment sectors.

In just 4 years the business grew 350%, during which time it recruited two further Advisers all assisted to gain the highest qualifications, as well as three support staff. This expansion cemented the business’s position as a leading provincial business in the employee benefits and wealth management sector of the Home Counties in England.

By the end of the millennia, his success in the financial services sector had led Edward to realise one of his dreams. In late 1997, Edward and Jeanette launched the UK’s first internet-only wine shop, continuing in the financial services sector and recruiting for both the wine business (ItsWine.com) and financial planning business, working from the same Buckinghamshire offices.

The growth of the wine business continued alongside the financial planning business until a significant downturn in 2003 led to the closure of the wine business in early 2004.

18 months later, an approach was made to buy the financial planning business and, with an offer too good to refuse, Edward and Jeanette sold the business.

Following the successful sale of the business in 2005, Edward was head-hunted in the UK commercial property sector to establish and run investment funds for UK SIPPs (Self-Invested Personal Pension Schemes), advised upon by UK Independent Financial Adviser (IFA) firms.

When the financial crisis hit in 2008 and the market for new investment funds literally disappeared over night, the realities of such a changed world saw Edward and Jeanette re-group. Upon examination of the market, the duo returned to what they had always known best: the wealth management and employee benefits sector.

Edward worked with various partner firms whilst easing back into the sector before branching-out once again with Jeanette and the birth of Patterson-Mills Financial Planning.

In a UK industry being rocked by commission scandals, Edward realised the importance of taking a fresh approach to the sector. It was a keen focus on employee benefits, private client wealth management and establishing a fee-based, commission-free business, with 100% transparency, that gave Patterson-Mills a sharp competitive edge over its competition.

The vision of a smaller IFA practice being ideally placed to offer true wealth management and holistic financial planning was the driving force for the Patterson-Mills business plan. This strategy benefited clients extremely well, with lower costs, transparent dealings and added value services becoming possible.

In mid-2012 Edward became one of the earliest Chartered Financial Planners in the UK, a new higher qualification offered by the CII that was to become the gold standard qualification with international recognition.

With recruitment of both advisory and administrative support staff, Patterson-Mills Financial Planning continued to grow from strength to strength. The hands-on, client-centric business model in the UK created a 300% increase in fee revenue over 5 years.

Towards the end of 2020, the Patterson-Mills Financial Planning management team made the decision to expand the business to cater for the ex-pat market and international clients. The first step was establishing an office outside the UK.

The team’s goal was to set-up an office in a tax-friendly jurisdiction that could service clients virtually anywhere and lead to introductions to the UK business on top. For Patterson-Mills Financial Planning, the jurisdiction best suited to the needs and servicing of clients was Switzerland.

On 15th December 2020, Patterson Mills Sàrl was born.

Edward Mills began working in the financial sector, having become a management trainee at one of the UK’s largest retail banks.

Upon disillusionment with the promotion system and the realisation that large corporates are more like an oil tanker than a speed boat, Edward’s aspirations matching more the latter, he joined a financial advisory independent broker in Central London. In the same year, this move led to the establishment of Edward’s first business, starting in the mortgage and pensions sector during the days of a huge UK property boom.

The next few years saw Edward’s business expand more and more into the financial planning and pensions sector, encompassing employee benefits by the end of the decade.

The Financial Services Act 1988 was now in full swing, creating the benchmark regulations for all UK advice firms. This new regulation regime in the UK opened up real opportunities for the sector, with the first set of specific financial planning qualifications brought into place.

For Edward, this presented the chance to get a step ahead on the majority of slow-to-adopt competitors in the marketplace and so, by 1992, Edward had become one of the UK’s first holders of the Advanced Financial Planning Certificate from the Chartered Insurance Institute (CII).

Due to the business’s continued success, Jeanette Mills joined her husband in the family business as it continued to grow with careful nurturing of professional connections in the accountancy and recruitment sectors.

In just 4 years the business grew 350%, during which time it recruited two further Advisers all assisted to gain the highest qualifications, as well as three support staff. This expansion cemented the business’s position as a leading provincial business in the employee benefits and wealth management sector of the Home Counties in England.

By the end of the millennia, his success in the financial services sector had led Edward to realise one of his dreams. In late 1997, Edward and Jeanette launched the UK’s first internet-only wine shop, continuing in the financial services sector and recruiting for both the wine business (ItsWine.com) and financial planning business, working from the same Buckinghamshire offices.

 

The growth of the wine business continued alongside the financial planning business until a significant downturn in 2003 led to the closure of the wine business in early 2004.

18 months later, an approach was made to buy the financial planning business and, with an offer too good to refuse, Edward and Jeanette sold the business.

Following the successful sale of the business in 2005, Edward was head-hunted in the UK commercial property sector to establish and run investment funds for UK SIPPs (Self-Invested Personal Pension Schemes), advised upon by UK Independent Financial Adviser (IFA) firms.

When the financial crisis hit in 2008 and the market for new investment funds literally disappeared over night, the realities of such a changed world saw Edward and Jeanette re-group. Upon examination of the market, the duo returned to what they had always known best: the wealth management and employee benefits sector.

Edward worked with various partner firms whilst easing back into the sector before branching-out once again with Jeanette and the birth of Patterson-Mills Financial Planning.

In a UK industry being rocked by commission scandals, Edward realised the importance of taking a fresh approach to the sector. It was a keen focus on employee benefits, private client wealth management and establishing a fee-based, commission-free business, with 100% transparency, that gave Patterson-Mills a sharp competitive edge over its competition.

The vision of a smaller IFA practice being ideally placed to offer true wealth management and holistic financial planning was the driving force for the Patterson-Mills business plan. This strategy benefited clients extremely well, with lower costs, transparent dealings and added value services becoming possible.

In mid-2012 Edward became one of the earliest Chartered Financial Planners in the UK, a new higher qualification offered by the CII that was to become the gold standard qualification with international recognition.

With recruitment of both advisory and administrative support staff, Patterson-Mills Financial Planning continued to grow from strength to strength. The hands-on, client-centric business model in the UK created a 300% increase in fee revenue over 5 years.

Towards the end of 2020, the Patterson-Mills Financial Planning management team made the decision to expand the business to cater for the ex-pat market and international clients. The first step was establishing an office outside the UK.

The team’s goal was to set-up an office in a tax-friendly jurisdiction that could service clients virtually anywhere and lead to introductions to the UK business on top. For Patterson-Mills Financial Planning, the jurisdiction best suited to the needs and servicing of clients was Switzerland.

On 15th December 2020, Patterson Mills Sàrl was born.

Today

The 34-year journey to Switzerland may seem a long one, but for Edward and Jeanette, it has flown by. As the UK business continues to flourish, with continued hands-on involvement from the duo, the Swiss operations for international Clients has proved entirely complimentary to our business operations and our clients alike.

Patterson Mills Sàrl is partnered with Lawsons Network AG. This partnership enables us to access market-leading technology, enhancing our modern, personalised and Client-centric approach needed in this competitive international market.

Our vision that everyone, no matter what stage of life they are in, can benefit from independent financial planning, a vision that is now made even more accessible.

With 35+ years in the Financial Services Industry, we have the knowledge, experience and strong desire to make Patterson Mills Sàrl one of the most Client-friendly firms in its field. Our whole business model has the Client at its centre and with the use of the latest technology, our service offering is, we believe, second to none.

Today

The 34-year journey to Switzerland may seem a long one, but for Edward and Jeanette, it has flown by. As the UK business continues to flourish, with continued hands-on involvement from the duo, the Swiss operations for international Clients has proved entirely complimentary to our business operations and our clients alike.

Patterson Mills Sàrl is partnered with Lawsons Network AG. This partnership enables us to access market-leading technology, enhancing our modern, personalised and Client-centric approach needed in this competitive international market.

Our vision that everyone, no matter what stage of life they are in, can benefit from independent financial planning, a vision that is now made even more accessible.

With 35+ years in the Financial Services Industry, we have the knowledge, experience and strong desire to make Patterson Mills Sàrl one of the most Client-friendly firms in its field. Our whole business model has the Client at its centre and with the use of the latest technology, our service offering is, we believe, second to none.

Our Qualifications

Our Principal Adviser, Edward, not only has a plethora of knowledge from extensive experience in many aspects of financial planning, but he also has amongst the widest of professional qualifications and is a Chartered Financial Planner, the Gold Standard in financial and investment planning in the UK today. All of our Advisers have the minimum Level 4 Qualification that we require to ensure professional, effective and successful wealth management.

These also include those from the Personal Finance Society, part of the Chartered Insurance Institute (CII), such as the Pension Transfer Specialist (PTS) qualification G60, residential mortgage qualification (CeMAP from the Institute of Financial Services), additionally being qualified in various advanced diploma level financial planning, investment, taxation and trust qualifications.

Subsequently, significant developments in the financial advisory sector, in particular the FCA’s new emphasis on quality and value for consumers with the ultimate eradication of investment commissions, created what Edward saw as a fantastic opportunity to build a new, 21st century financial planning business.

Our Qualifications

Our Principal Adviser, Edward, not only has a plethora of knowledge from extensive experience in many aspects of financial planning, but he also has amongst the widest of professional qualifications and is a Chartered Financial Planner, the Gold Standard in financial and investment planning in the UK today. All of our Advisers have the minimum Level 4 Qualification that we require to ensure professional, effective and successful wealth management.

These also include those from the Personal Finance Society, part of the Chartered Insurance Institute (CII), such as the Pension Transfer Specialist (PTS) qualification G60, residential mortgage qualification (CeMAP from the Institute of Financial Services), additionally being qualified in various advanced diploma level financial planning, investment, taxation and trust qualifications.

Subsequently, significant developments in the financial advisory sector, in particular the FCA’s new emphasis on quality and value for consumers with the ultimate eradication of investment commissions, created what Edward saw as a fantastic opportunity to build a new, 21st century financial planning business.