Three of the Isle of Man’s most experienced and respected professionals in the IFA and banking sectors have launched a new business called LMS Partners Limited.

After working together for many years, Steve Locking, Christina Skelly and Kathy Mitchell have decided to launch their own venture specialising in investments and retirement planning.

Collectively, they have substantial experience in financial advice, banking and regulation - with the vast majority of their careers being spent in the Isle of Man.

LMS Partners, says managing director Steve Locking, draws upon this collective experience and expertise to provide what he says is straight-forward, transparent and honest advice, and to clearly demonstrate its value to clients.

He said: ’Technological development and regulatory intervention is transforming the investment and retirement planning sectors on an almost daily basis.

’The speed of change, and its complexity, means that seeking independent financial advice is essential for most people.

’When we analysed the current IFA marketplace, Christina, Kathy and I identified a need and an opportunity to put together a proposition which assists clients with the challenges they face not only today but also in the future.

’There is a demand for the highest standards of transparency, honesty and reliability, but we also identified that cost is becoming an increasingly important factor in the provision of financial advice, whether this be fund charges, adviser charges or associated investment platform and pension provider costs.’

The ethos behind LMS Partners is to focus on clients and their financial circumstances, and to give them the assurance they deserve when seeking independent financial advice.

Steve added: ’Financial advice has, on occasion, become associated with high pressure sales and opaque commission structures.

’LMS Partners is designed to be different, the ethos of the business is to set new standards by making sure that our clients can clearly identify the value that we add, and understand how our advice is charged.

’None of our team have individual sales targets, and they do not benefit from sales related bonuses which ensures that our advice is based on the benefits to our clients, not the adviser.’

LMS Partners director, Christina Skelly, said she was looking forward to the challenges and opportunities which the new venture will bring.

She added: ’Our aim is to put transparency at the heart of everything we do, and by doing so give our clients truly independent financial advice based upon the enormous experience of our partners and staff, and to deliver that advice in a manner and format that is both comprehensive, and understandable."

LMS Partners Limited is licensed by the Isle of Man Financial Services Authority and will shortly move to new offices at 14 Athol Street, Douglas, in the centre of the Island’s financial services sector. The company’s website - www.lmspartners.co.im - is due to be launched soon.

The company can be contacted on 666888 or emailing [email protected]

LMS Partners Steve Locking (centre) with Kathy Mitchell (left) and Christina Skelly (right)