Mountains

Company & Ancestry

The Margetts name is synonymous with the provision of financial services in Birmingham, with the firm’s ancestry going back to the first Chairman of the then newly formed Birmingham Stock Exchange in 1845.

The Margetts company of today being located in the Jewellery Quarter, seeks to maintain this tradition. The company originated in 1981 with the partners of the stock broking firm, Margetts & Addenbrooke, forming a financial services company in Norwich, M&A Financial Services. This was primarily for the purpose of including unit trusts in their clients stocks and shares portfolios. This was then expanded to include life assurance and pensions business.

In 1985, following the departure of the consultant employed, Tim Ricketts joined the company as Managing Director in the Birmingham office, and acquired a 50% shareholding. At the same time, the name was changed to Margetts Financial Services Ltd. The business was set up to provide wealth management to new clients, as well as advising clients introduced by the stock broking business.

An immediate important aspect was added through the introduction of discretionary managed portfolios, which could include tax planning by the utilisation of single premium life assurance bonds. In 1986 Margetts Financial Services Ltd formed the first broker fund in liaison with Clerical Medical, to which were added a further four funds, namely, Scottish Life, Albany, Prolific and Scottish Mutual.

In 1991 the company won Micropal awards achieving first over one year and second over five years for performance, with all the funds substantially outperforming the equivalent managed funds.

Between 1992 and 1995 further milestones were achieved with Margetts being a leader in establishing broker unit trusts and also introducing the concept of risk rated funds. This was initially done in conjunction with Old Mutual and Scottish Widows, through which the company looked to cover the spectrum of risk with the Providence fund, the Select and International funds and finally, the Venture fund. Again, numerous awards have been won for these Strategy funds, commencing with Micropal in 1993 and continuing to the current date as a directly authorised unit trust company, with these being listed separately under Awards on this website.

Margetts Fund Management Ltd was formed in 2001 by a share issue, with the majority being held by Margetts Financial Services Ltd and a selective offering to employees and supporters of the company who wished to take a direct stake.

The company was authorised by IMRO with the aim of achieving first class returns within specified risk criteria, and also with the objective of setting high standards of service with direct employment of administration staff.

The Margetts funds have been extensively used by both private clients and Independent Financial Advisers and in 2003 Margetts started offering third party facilities with the launch of the Opes range of funds, which have in their own right received Reuters/Lipper awards. With the Retail Distribution Review coming into force in 2013, the company has looked to set new standards in supporting IFAs in portfolio management, combining risk management and providing direct access to our research facilities.

This will comply with the regulatory objectives of providing material justifying the selection of individual collective investment funds, which primarily comes from the master list, which covers the spectrum of Margetts Risk Rated Strategy portfolios.

IFAs subscribing to this service can also ascertain the detailed reasoning which has been made with regard to the holdings and utilise the material to support their own selections. As can be seen from our antecedents, family connections have been particularly important in ensuring the strength and continuation of the business and Toby Ricketts has now taken over as Chief Executive Officer from his Father, the current Executive Chairman. In addition, Geoffrey Oakley, the son of Harold Oakley, the longest post Second World War senior partner of Margetts & Addenbrooke, remains a major shareholder and non-executive director of the company.

Antecedents

The Margetts name has been a feature of Birmingham business life going back to the early years following the formation of the Birmingham Stock Exchange in 1845. Margetts Fund Management Ltd is particularly proud to be able to continue this association, with our roots having been established from the Margetts & Addenbrooke stock broking partnership. Brief details are set out below:

1845 – James Pearson, banker and stock broker, is an established trader in Birmingham and is elected the first Chairman of the newly constituted Birmingham Stock Exchange

1853 – James Pearson dies and is succeeded by his sons, Charles and Richard, and the name is pluralised to James Pearson & Sons

1875 – Herbert Margetts succeeds as proprietor of James Pearson & Sons and the firm is renamed …Herbert Margetts Late James Pearson & Sons

1881 – Herbert Margetts brings Lloyds Bank to the market. T. Jervis Addenbrooke is elected a member of the Birmingham Stock Exchange

1886 – Margetts & Addenbrooke form a partnership, naming the company Margetts & Addenbrooke

1895 – A private wire is installed from the offices direct to the London Stock Exchange. This is the first ever direct telephone from Birmingham to the London market

1901 – Herbert Margetts is elected Chairman of the Birmingham Stock Exchange for the last time

1909 – Herbert Margetts dies and T. Jervis Addenbrooke becomes sole partner

1932 – T. Jervis Addenbrooke completes 50 years of membership of the Birmingham Stock Exchange

1937 – T. Jervis Addenbrooke retires completing nearly 56 years membership of the Birmingham Stock Exchange

1938 – G. S. Howarth and W.O. Mills form a partnership and continue as Margetts & Addenbrooke

1944 – Pilot officer G.S. Howarth dies on active service and Reginald Welham is sole proprietor

1946 – The business of T. H. Evans & Co amalgamates with Margetts & Addenbrooke. Harold W. Oakley and Reginald Welham continue in partnership

1965 – Under new Federation rules, Margetts & Addenbrooke become a dual capacity firm acting as jobbers and brokers

1972 – Dual capacity is no longer permitted and Margetts & Addenbrooke expand private client stock broking

1986 – Margetts & Addenbrooke plays a leading role in the formation of the National Investment Group. Following further acquisitions by Capel Cure Myers, Old Mutual and Barclays Wealth Management, this resulted in the demise of the Margetts & Addenbrooke name as stock brokers in Birmingham