A Modern Firm

A Modern Firm

In 1970 there were 216 full-service firms in London and perhaps another 100 in the regions. In the next three decades that figure would decline by two-thirds.

In the early 1970s moves were made to bring the many provincial market floors into union with London. This was quickly followed by full integration of the national market; and by new computerised settlement procedures, share prices delivered over television screens, the introduction of computers into settlement and valuations, and a revolution in communications. All this called for careful planning and the commitment of capital. The 1980s took this further with far-reaching changes in the regulatory system, the abolition of fixed commissions and the introduction of outside ownership to the market. The dramatic adjustments which this wrought on the industry have been well documented. Less is known of the way in which firms have reshaped themselves to meet the changes.

Charles Stanley & Co had always specialised in offering professional advice to the private investor. It was natural that the firm should build on this strength. Charles Stanley's clients reflected its long history: they included a wide network of branches of all the major banks; leading firms of solicitors and accountants; well-known national charities and professional institutes; and a vast range of important private individuals, who valued the quality of the firm's advice.

The pace of acquisition continued into the 1980s, but now there was a further development. In 1981 the firm opened a branch in Cambridge, to support one of its partners. Its success led quickly to the acquisition of a branch office in Ipswich, in 1983; and to the opening of a new branch in 1985 in Norwich. Further branches followed in steady succession.Though Charles Stanley is, as always, a City firm, the branches have proved to be a valuable means of extending its professional service to an ever increasing number of clients.

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