A BRADFORD businessman has joined forces with an investment specialist to help Yorkshire entrepreneurs manage their hard-earned cash and attract even more wealth to the city.
By Anila Baig
Luqman Rashid has always wanted to show his home city in the best possible light.
“I’m a Bradford lad, born and bred, and I have always been an active champion of the city.”
He said that people underestimated Bradford and its hard-working citizens.
“People from outside have preconceived ideas about us but they have it wrong. They don’t realise how hard people here have worked here and built up wealth in a relatively short time as well as all the established and incredibly successful businesses which have been here for many years.”
Luqman is a well-known face in the community and says ‘bigging up Bradford’ is something that runs in his family.
After 20 years of working for himself he decided he needed a fresh challenge.
He went on a life-changing pilgrimage to the Middle East, the Umrah, in 2017 and when he came back he sold his business.
The year before he had attended an event in Yorkshire and met Rob Maddison- Joss, an experienced wealth management consultant who has worked with some of the most respected names in banking and finance.
Luqman said: “We hit it off straightaway and became good friends. Then I realised we both had different skill sets which would work well together and could benefit the city of Bradford.”
Rob has a long and successful history within the investment industry and financed himself through University by trading stocks and shares, whilst he was studying Economics.
He worked previously at Barclays Private Bank and Investec Wealth & Investment, managing client investments and providing advice before setting up his own business, Hillcrest Wealth Management, in 2016 to provide face-to-face wealth management to individuals, entrepreneurs and companies.
This is as an Appointed Representative of St James’s Place, a leading financial services business, who provide the support of a FTSE100 company to Hillcrest.
Luqman has built up a huge network of contacts in the business world and in the community: “I am well-respected and have been here a long time so I know a lot of people and they know who I am and what I stand for.”
Luqman added that although there was a lot of wealth in Bradford the financial services industry was under the radar.
“It became clear that this area was under-serviced for whatever reason. Of course there were financial advisers here but it wasn’t as big an industry as in other cities.”
He said Rob’s experience was second to none and together they formed a symbiotic partnership which was mutually beneficial for Bradford.
“We are a dynamic duo bringing this range of services to help people in Yorkshire. Hillcrest Wealth Management provides a holistic range of financial advice which caters to the individual. No two clients are the same and they all have different goals in mind.”
And he said it wasn’t just the wealthy who needed advice.
“There are many people in Bradford who have made their money in a range of areas. We have the restauranteurs who have made Bradford the capital of curry throughout the country but there are also property magnates and a host of other entrepreneurs.
“We work with professionals, companies and entrepreneurs who want to protect and grow their wealth through trusted financial advice. It could be about investments, pensions, inheritance tax, or setting up a trust for their children.”
Luqman’s brother, Kamran, runs a social enterprise company and is one of the directors of Bradford’s Capital of Culture bid as well a host of other bodies designed to elevate the status of the city on the national and international stage.
“As a family we always lobbied for Bradford and are absolutely committed to serving our city. It’s a family trait. We want to show the positive side of this wonderful place.”
Luqman learned to stand on his own two feet from an early age – he was still a teenager when he hit the major milestones in life- married at 16, a father at 17 and by 19 he had opened his first business.
He had wanted to study further but being married at such a young age meant he had to put that responsibility first and earn enough to support his growing young family.
“I was bright but I never got the opportunity to complete my A-levels or go to university which is what I really wanted to do.”
Instead he worked in the retail and hospitality business for two decades.
The father-of-three said: “Like many businesses there were ups and downs and I learned a lot but I wanted a career change especially because my children were getting older and I wanted to be home in the evenings.”
Now, in partnership with Rob, he gets to spend more time at home in the evenings.
Rob said the aim of their service was to tailor the right advice for clients.
“It is all about the relationship, which we value and want to develop and grow over time, as the goals and objectives of those we work with change.
“We work through a process called ‘lifestyling’ to help clients have some clarity over their future and enable them to plan accordingly.”
Rob offers help with Investments, taxation & estate planning, ISAs, pensions, insurance and a whole raft of other money related issues.
And while the current economic situation is looking bleak Rob said he was optimistic that the situation could improve relatively quickly.
“We have seen challenging market conditions before such as fallout from the tech boom in 1999 and the financial crisis of 2008 and, while the current issue around Coronavirus is unique, markets and business are resilient and I would expect them to meet the challenges and move forward when things start to get back to normal”.
The pair are continuing to look forward with optimism. They have an office in Leeds and are about to move into brand new premises at the Chamber of Commerce, the Chamber Hub, in Little Germany.
“We are showing our commitment to Bradford by opening an office in Bradford,” Luqman said.
“Our work really is about nurturing relationships and putting our clients at the centre of everything we do. We go on a journey with our clients and become part of the family to help them meet their objectives and goals.”
Rob added: “But more importantly what Hillcrest does is give clients the right advice which will enable them to add value to their assets for generations to come.”
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The favourable tax treatment of ISAs may not be maintained in the future and is subject to changes in legislation.
Trust are not regulated by the Financial Conduct Authority.
Hillcrest Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products.
