Make the future you want... entrepreneurial
Introducing Roy - START Client and Entrepreneur
Roy Nicholls has an attitude to life that pushes the boundaries. Roy made a bold career change mid-way through his life, as a result of a motorcycle accident that caused serious injuries.
The Challenge
Roy had received a five-figure pay out from ACC, which by the time he’d made the house and car wheelchair-friendly, was almost used up. Fortunately he had income replacement insurance and a small amount of savings. After a period of re-adjustment Roy forced himself to evaluate career opportunities. After some time and developing the technique of selling in a call centre job, he enrolled in a part-time business management course and started researching his options.
When he approached ABN AMRO Craigs he had already decided what his aim should be. The challenge to his advisor, was to help Roy grow his capital base in order to buy a business. “Roy was really keen to learn about the markets. He picked up a lot through our meetings but was also very hungry for research material. He’s a real self-starter. As his knowledge grew, his risk profile became less risk averse. We adjusted the portfolio accordingly in the second year and turned a 10% return into a 14% return. This coupled with Roy’s salary and commissions’ input saw him reach his capital target earlier than he expected. I was delighted to see him do so well and even more delighted to get the invitation to his business opening”, recalls his Advisor.
The Solution
ABN AMRO Craigs worked with Roy to devise a strategy to help identify the level of capital they would need to raise, with a satisfactory earning capacity, and together they committed to a figure.
As Roy’s initial funds were so important, the solution was a balanced portfolio of 50% bonds, 40% equities and 10% property, avoiding too much risk.
Roy has since grown the business to a staff of eight and purchased a floor of the building he works out of. He continues to build his portfolio, although it is now geared towards retirement. He hopes to bolster it significantly with the sale of a successful recruitment business in a decade or so.