Timeframe

Wealth Spring launched in May 2023, so we are 2 months away from the 2‑year anniversary mark. Put it another way, Wealth Spring has been in business for 22 months. We also adopted a second dog in October, so that’s 2 dachshunds in total. That’s enough 2s for now.

I thought I would share an update on how the business is progressing.

Prospective Clients

Over the past two years I have met with 80 prospective client families who have had an interest in becoming Wealth Spring clients, either for ongoing advice, or for standalone project work. Organising clients into client families is a useful way of understanding clients in the units they present to Wealth Spring. Beyond this there were a few people who had a passing interest which never materialised into a meaningful conversation, they are not included in the figures.

Of those 80 prospective client families, 41 have so far decided to become clients. Of those 41 clients, 29 are ongoing client families, and 12 are standalone projects only, in some cases standalone project clients choose to have an ongoing working relationship with Wealth Spring.

Overall, that’s roughly 50% of prospective clients choose to work with Wealth Spring.

Details and progress

Of those 41 client families, 25 receive their main source of income from their roles in owner-manager businesses or self-employment, about 60%. The average Wealth Spring client is 45 years old; however there are outliers on either side.

Tina Smart-Heyward has been supporting Wealth Spring with client administration over the past 6 months and has been a phenomenal help. You may have interacted with Tina in the past few months, if not, she is working hard behind the scenes to keep Wealth Spring ticking.

Wealth Spring is launching a new service for ongoing clients, the Zenplans platform, a digital estate planning tool. Please read more by following the link on the Insights tab.

Prospective clients continue to reach Wealth Spring by various sources. If you do know someone who you think might benefit from financial planning I am always happy to have a conversation.