“Not many advisers actually understand these products but we fully understand the pros and cons of them.
“We are very comfortable when it comes to cross border products.”
The company is an appointed representative of First Sentinel Corporate Finance based in London.
What are the trends you see in the high net worth space?
Hives said the age range of the high net worth clients has shifted in recent years.
He said: “More so than ever we are seeing high net worth individuals in their late 20s and early 30s when once upon a time it would have been people who were 50 plus.
“Im nearly 40 and this generation coming into the working population are much more switched on to their finances than my generation.
“Now when I sit down in front of a client, they get their phone out, they can look at their pension and crypto banking on an app.
“When I used to do a fact find people just didn’t have that information to hand and would have had to come back to me.”
When First Sentinel launched it also set up an app which clients can use to see a summary of their assets.
What would you say to somebody wanting to set up their own firm?
“I would say do it,” said Hives.”The reality is you also need to be comfortable that you will be the marketing manager as well as doing the payroll. You will be wearing many hats.
“If you've got an appetite to be a business owner then you should be comfortable with that and get used to those early mornings, late finishes and working weekends.
“I see this job as a lifestyle, I've got some fantastic relationships with not only the people we employ, but also the clients, some of which I've worked for for many years.”
Hives said working with two business partners makes life easier.
He added: “We very much complement each other, they take some responsibilities and I take others.”
“We believe in the personal touch so we get to know each other's clients, because if for whatever reason, someone's out of the office and the client needs to come in. We still want to continue that relationship.”
Is working with clients in person something that is important to you?
He said the approach of the firm is not to rely on video calls for client meetings.
Hives said: “Our philosophy is very much if we can see a client in person, let's do that.
“If we get a telephone inquiry, we will give them the potential client a call on introduction but I very much prefer face-to-face meetings where possible.
“I've got clients in Scotland so I go up there on a regular basis to see them.
