Murphy Wealth poised for further growth following successful year
Glasgow-based advisory firm Murphy Wealth is set for a period of prolonged growth with ambitions to double in size in the next year.
The firm, which was founded in 1977 by current chairman Brian Murphy, and now run by son Adrian, has had another successful year, increasing headcount by five, taking the firm to fifteen employees in total.
The company is about to sign the lease on a much larger office space in Glasgow city centre, which will be developed into a collaborative space for the firm and its clients. Room enough for up to 30 employees that will accommodate the growing business.
Murphy Wealth is launching a graduate programme with Glasgow Caledonian University in collaboration with its investment and risk department, with the aim of attracting new talent into the advisory sector.
The business’s growth and expansion comes after the company made several important changes over the last 12 months. It has made significant investment in its client offering and customer service to place a continued focus on supporting entrepreneurs and the owners of growing businesses.
In a first for a wealth advisory firm in Scotland, the company launched its Simply Wealth app, helping individuals take greater control over their assets. It also made changes to its fee structure, opting to switch from a percentage charge - a commonly-used pricing structure in the investment industry - to a more transparent fixed fee model, in a move relatively unusual for a business of its kind.
Adrian Murphy, managing director of Murphy Wealth, said: “Murphy Wealth has achieved a lot in the last twelve months, and the business has gone from strength to strength as we continue to build and develop our presence in Glasgow.
“Much like the forward-thinking, enthusiastic people we advise and work with, we have great ambitions of our own for the company’s future and strive to do things differently from other organisations of our kind. Our drive has been underlined by the recent investments we’ve made into the business, illustrated by the launch of our app and change in pricing structure, both of which have had an extremely positive impact on the company’s growth.
“We want to keep things as simple and straightforward as possible for our clients, and are moving away from what’s considered normal practice in our industry. While we’ve noticed a lot of consolidation between companies in our marketplace, it’s not something Murphy Wealth is looking to replicate. We’re a dynamic firm, committed not only to advising, but growing and collaborating alongside our clients at whatever stage they’re at in their business’s lifecycle.
“Over the next few months, we look forward to making more exciting changes, from an office move as we anticipate further increases in employee numbers, to launching some new initiatives in the very near future which are different for our business.
“We are confident our recent progress, combined with our ambitious goals and dedication to our clients, will continue to drive Murphy Wealth forward and enable us to achieve our growth aspirations.”