GFM Reaches Its 50th Anniversary!
It is with great pride that GFM reaches a very significant milestone during this year – 50 years since the commencement of the business in July 1973.
Back in 1973, when Tony Gilham founded the business, the world of financial services and advice was incredibly simple, with the predominant focus being insurance and basic deposit products.
Fast forward to today, and GFM is a thriving multi-disciplinary firm with significant specialisation in portfolio construction, strategic advice and Self Managed Super Funds (SMSFs).
Below is a timeline of the significant milestones for GFM over the 50 years:
- July 1973 – Tony Gilham starts as a sole practitioner, working as a self-employed life insurance and superannuation adviser with Legal and General
- June 1979 – GFM employs its first staff member
- October 1984 – GFM moves into offices in St Kilda Road, Melbourne, with four employees
- December 1985 – The company becomes incorporated as Gilham Financial Management Pty Ltd.
- October 1994 – GFM moves into the offices of 1221 Toorak Road, Camberwell, with nine employees
- July 1996 – GFM starts advising on SMSFs
- February 2003 – GFM obtains its own Australian Financial Services Licence (AFSL)
- January 2014 – GFM acquires accounting firm P Gruchy and Associates (now GFM Gruchy) to add accounting to the services offered
- August 2015 – GFM moves into its current offices at 190 Through Rd, Camberwell, with twenty-one employees
It is fair to say that there are not many Financial Advice businesses here in Australia that have made it to 50 years and are still going strong.
Reflecting on the reasons we have made it to 50 years:
We invest in long-term relationships:
It is astonishing how many of our clients have been with us for over 20 years. Several have been with us for the entire 50 years! Our clients are our business, and we are incredibly grateful for this loyalty.
Stability:
The stability of the senior core staff at GFM is the envy of our peers. We have a loyal, hard-working, knowledgeable and caring team passionate about delivering a high-quality financial planning service.
When we hire at GFM, the first thing we make clear to the applicant is that if they don’t envisage being with us for ten years or greater, it will not work.
Our team “buys into” entering a long-term relationship with the business, its co-workers and most importantly, our clients.
A “Client Centric” philosophy:
When you deal with larger institutions, you are just a number.
At GFM, clients are our business, and we understand this. Every client is different, so we develop a detailed and thorough understanding of your situation before providing tailored advice.
Our financial advice is tailored to your unique needs, risk profile and investment preferences. This ensures our clients receive the best advice based on their goals, objectives and best interests.
We review client portfolios regularly in person, provide detailed review documents and quarterly reports, and produce informative newsletters and emails. We also run events to ensure our clients are up to date with their financial affairs and to spend quality time with them.
Integrity and transparency:
GFM remains differentiated from the majority of the financial services industry.
We have long perceived that seeking advice from groups with institutional ownership (particularly when those institutions also manufacture financial products) poses a substantial risk of conflicted advice.
We have no institutional or third-party owner in our business.
We have held our own Australian Financial Services Licensee (AFSL) since 2003. This means that, unlike many Financial Services firms which obtain a representative licence from a third-party licensee, our licence is issued to us directly by the Australian Securities and Investment Commission (ASIC). We are, therefore, not tied to a third-party, its influences or its products and can build the advice and strategies that are right for you.
But we never rest on our laurels.
While we have some big plans for the remainder of this year to celebrate our 50 years, we are committed to ensuring our standards don’t slip. We intend to be around for another 50 years. We hope we are dealing not only with the current but also the future generation of clients.
Thank you to all our team and clients for getting us this far!