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It starts with the foundations.

This highlights our commitment to the highest possible industry standards.

In 2019, only 13% of firms were Chartered.  

CHARTERED

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Many advisers are ‘tied’ which restricts what they can offer.

We are not tied, to anyone. We will always recommend what's best for you.

INDEPENDENT

Embracing new technology is at the heart of everything we do.

  

We make the complex simple, and bring your financial planning to life.

MODERN

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What this means for you.

IMPROVED GROWTH

Making sure that your money is working hard for you.

TAX EFFICIENCY

Using allowances and making sure you don't lose unnecessary money.

PEACE OF MIND

You have done all you can and everything is as it should be.

GUIDANCE & COUNSEL

Enforcing discipline to avoid costly mistakes.

TIME & CONVENIENCE

Think of us as your financial personal assistant - we make it all happen for you.

CLARITY & VISION

Using cashflow forecasting we shed light on your financial future.

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2019

FINANCIAL TIMES

TOP 100 ADVISERS

The FT compiles a 'Top 100 Financial Advisers' list each year to give savers confidence that their money is being managed by the best Financial Advisers in the UK.

 

Schofield are proud to be named within the top 100.

 

Our Values.

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What we strive for...

TRUSTWORTHY

At all times, we work with integrity and professionalism, recommending the right strategies for you.

Every penny that we look after is dealt with carefully and capably.

We understand that we are entrusted with your future and take our responsibilities very seriously.

OPEN MINDED

We recognise that we can learn from you (our clients) – what you want and how we can best service your needs.  

As a team we regularly reflect on what we are doing well and how we can improve.

FORWARD THINKING

We have a vibrant and dynamic team that are committed to enhancing the client experience.

We are open to change and are happy to challenge the status quo, constantly thinking of new innovative ways to develop the way we work.  

PROACTIVE

We are committed to staying ahead of the curve and bringing new ideas to you, regardless of when we last saw you.

If there's something that needs doing now, we'll tell you about it.

TRANSPARENT

We are open and honest about what we do and how we work.

We always use plain English and never try to baffle you with financial jargon.  

We tell you what we are going to do for you, how it is going to benefit you, how much we charge – and then we do it.  

 

Our Investment Principles.

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Rules that guide us...

SPEND RISK WISELY

GLOBAL

DIVERSIFICATION IS KEY

HISTORY TEACHES US MANY THINGS

£ SAVED = £ EARNED

RE-BALANCING

TIMING VS TIME-IN

ACTIVE VS PASSIVE

CAPITALISM WORKS

QUALITY CONTROL

DIVERSIFICATION IS KEY

We're sure you have heard about how you shouldn't hold all your eggs in one basket, but our portfolios are invested: -

  • Across multiple asset classes

  • All over the world

  • In different industries

  • In various management styles

  • With numerous investment providers

SPEND RISK WISELY

Imagine taking lots of risk and not getting enough reward for it. It's important to appreciate that not all risk levels are rewarded equally.

Once we know what level of risk you are comfortable with, we spend your risk "budget" in a way that aims to get the best possible return.

TIMING VS TIME-IN

We believe "timing" the market is impossible and is no different to gambling. The cost of getting this wrong can be significant, as missing just a handful of the best days can result in halving your overall return.

No one can predict the future and some of the biggest market gains occur during volatile periods. Therefore, we encourage holding long term investments through all market conditions to take this risk off the table.

RE-BALANCING

Re-balancing is important, as it prevents your investments becoming unsuitable for you. When some investments do better than others, your portfolio could "drift" into a different risk level.

We therefore re-balance regularly to counter this portfolio "drift", maintain effective diversification and make sure your investments are always right for you.

HISTORY TEACHES US MANY THINGS

Unfortunately, we do not have a crystal ball (yet!) but luckily history teaches us many things.

Our portfolios are built based on academic principles and economic theory which are informed by lessons of the past.

Whilst this does not guarantee future behaviours, it informs our investment decisions.

ACTIVE VS PASSIVE

Our portfolios contain a mixture of active and passive funds, as we are neutral in the active vs passive debate.

Some active strategies outperform their benchmarks, and some don't. Just as some passive strategies track markets effectively, and some don't. What's important is that we assess both with an equal degree of rigour.

£ SAVED = £ EARNED

We aim to keep investment costs low to minimise the negative effect on investment performance. We have an investment cost target of under 0.5% and maintain a cap of 0.6%.

QUALITY CONTROL

Not all investments are the same. The return of your investment is more important than the return on it. We therefore ensure that we only recommend institutions that are reputable and financially strong.

We always take a closer look to ensure we select those that are well-resourced with a strong track-record.

CAPITALISM WORKS

Global investment markets are simply a collection of assets backed by real companies that profit from real products and services for real people.

Since records began, capital markets have only ever delivered positive long-term returns which is expected to continue.

We encourage you to stay calm, look past the noise in the news and invest for the longer term.

 

Our Team.

 

Our Process.

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What being a client looks like...

GETTING STARTED

Learning about you

Understanding your money

Exploring opportunities

Delivering the plan

Getting it done

1. DISCOVERY MEETING

We need to gather as much information about you as possible, so we can fully understand you and your needs.

At this initial meeting we want to find out more about:

  • You and your family

  • Your short, medium and long term plans

  • What policies you have

  • Your current finances

Please bring along any relevant paperwork (no amount of paperwork is too much for us). Don't worry if you can't find any, we can obtain information directly from the provider (with your authority, of course).

During this meeting we will also explain what we can do and how you will benefit. Discovery is about getting to know you and whether we can work together, and that's why we offer this for free.

This meeting usually takes 1 - 2 hours. 

3. DISCUSS OPPORTUNITIES

Once we have done our analysis, we want to show you our findings and discuss your options. 

We start by taking you through each of your policies to ensure you understand the advantages and disadvantages of each.

This process is intended to give you clarity about your position and highlight any improvements that could be made.

For example, some of the things we tend to discuss are:

  • Are you over-paying in charges?

  • How much risk is right for you?

  • Could you get a better return?

  • Are you using your available tax allowances? 

  • Are you saving enough for retirement?

  • Does your protection match your needs?

  • Have you thought about Inheritance Tax? 

This meeting normally takes 1 - 2 hours.

5. IMPLEMENT SOLUTIONS

Once you are happy to proceed, we will take all the steps needed to put your agreed plan into action. 

We act between you and the product providers with a view to arranging and implementing your investments, pensions and protection products. 

At all times, we will:

  • Deal with all the paperwork

  • Liaise with any third parties and your other advisers

  • Keep you informed of progress

  • Keep the files in order on your behalf

We want to make sure we take away the stress of any administration, giving you the freedom to rely on us, and spend more time on what matters most to you.

 

This process can take 2 - 4 weeks.  

2. RESEARCH AND ANALYSIS

Once we have received all the information we need, we can really get to work. We conduct a thorough analysis to ensure we can help you fully understand your policies. 

We cut through the jargon and aim to provide you with a summary of your pensions, savings and insurances including:

  • The fees you are paying

  • The features (good and bad!)

  • The underlying investments

  • How much risk you are taking

  • A performance evaluation

This process can take 2 - 4 weeks. 

4. RECOMMEND A PLAN

We are now ready to construct a financial plan that's designed to meet all your objectives.

You will receive our written recommendations to digest in your own time. We haven't done our job effectively if you don't fully understand what we are recommending and why. That's why we always offer to go through the plan with you to ensure you are totally comfortable with it. 

We are always transparent about everything regarding our recommendation, including: -

  • Why it benefits you

  • What are the charges?

  • Are there any disadvantages? 

Only once you are happy with our recommendations is it then the time to confirm your agreement to proceed with us. 

This process can take up to 2 weeks.

6. REVIEW PROGRESS

Financial planning is not a 'one off' event.

We know life and priorities change, so it's important we meet regularly to ensure our plans still meet your needs. We will invite you to meet us at least annually so we can: 

  • Ensure you are still on track with your plan

  • Review your performance

  • Discuss any changes to your circumstances

  • Consider any possible improvements 

  • Update you on topical matters that may affect you

  • Present any new opportunities to you

We are always available, should you ever need us, so do get in touch if you have any concerns.

 

Annual meetings normally take 1 - 2 hours.  

 
 
 
 
 
 
 

Our History.

Where it all started...

We've been in business for more than 20 years and are proud to have lots of happy, long term clients that are living the life they want, often as a result of our professional financial advice and guidance. 

Having started out as a one-person advisory partner of a local accountancy firm, we have grown organically ever since. As a result of this growth, in 2018 we moved from Wetherby to Harrogate to a more central and convenient location as well as more space and better parking to meet the increasing needs of our rapidly expanding client base. 

Why we chose the name Schofield.

We chose the name 'Schofield' as it is a well-known Yorkshire brand that stands for excellence, success and outstanding customer service. 

For those of you not familiar with the well-known Schofield Stores...

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In 1901, Snowden Schofield, a young man from Liverpool set up a small corner shop in Leeds to sell haberdashery and merchandise. Hugely ambitious, he wanted to make his way in the world and planned to create a new and different shopping experience. A true pioneer, he was one of the first 'modern' retailers to appreciate that shopping was a leisure activity - requiring a mixture of great products and great service. He believed that the customer was always right and made sure that no transaction was complete until satisfaction was confirmed. 

He was the first man in Leeds to buy space on the front page of a newspaper for display advertising (his rivals used letters, posters and bills) and the first to introduce a cafe in his shops to allow his shoppers to enjoy refreshments (and music) while they shopped. 

He realised the importance of great customer service and had an uncanny ability to select the right staff, building up a highly successful business - moving from a small corner shop with just 3 assistants to a major department store, firstly in the Victoria Arcade and in 1931 on the Headrow employing more than 700 people in just a few years. 

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After his death in 1949 at the age of 78, his sons Peter and Ronald Schofield continues his great work, building the Schofield enterprise further, until it's eventual sale to House of Fraser in 1996.

 

At Schofield, we live and breathe the same values as Snowden Schofield. His mantra was: -

'Honesty is the best policy - do unto others as you would be done by' 

Which remains the driving force of everyone at Schofield today. 

When we were looking for a name of our company, we wanted to ensure this great name was never forgotten. Snowden's kin, James and Jason Schofield are members of our board and investors in the business - so it seemed a natural fit. 

We are proud to be continuing the great Schofield journey, ensuring that honesty, excellent customer service and outstanding results are still available to the people of Yorkshire and beyond.

Corporate Social Responsibility.

We are committed to conducting business in a responsible and sustainable way.

Take a look at our CSR page to see how we aim to help in 5 key areas.

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THE TIME IS NOW.

Have a nagging issue or want to know more?

We'd love to talk.