About Schofield
Find out what makes us different
It starts with the foundations
Built on solid principles
Chartered
This highlights our commitment to the highest possible industry standards. In 2019, only 13% of firms were Chartered.
Independent
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.
Modern
Embracing new technology is at the heart of everything we do. We make the complex simple, and bring your financial planning to life.
What this means for you
Improved growth
Tax efficiency
Peace of mind
Guidance & counsel
Time & convenience
Clarity & vision
Financial Times Top 100
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
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.
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.
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.
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.
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.
Our investment principles
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
Active v 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.
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.
£ saved = £ earned
Timing v 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.
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.
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.
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.
History teaches 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.
Where It All Started
Our history
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.
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...
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.
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 its 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.