Forty years ago this week Andrew Staley launched the company that would go on to become Marlborough. Here, the Marlborough chairman shares some of the lessons he has learned in that time and looks ahead to the future for the award-winning group.

When the stock market crashed in 1987, investors who had seen sharp drops in their portfolios were desperate for reassurance. But it seemed like staff at some of the big insurance companies – which provided many of the investment products in those days – were simply not answering the phone.

I was working as a financial adviser in Derby and I saw an opportunity. I organised a seminar at the Derby Assembly Rooms, where people could ask questions and get the answers they needed. We would have unit trust providers there – and my colleagues and I would be on hand as independent financial advisers.

We advertised in the local paper, the Derby Evening Telegraph, and also managed to get coverage on BBC Radio Derby. We knew we had worked hard to promote the event, but we were still taken aback at the response when we opened the doors on the first morning. There were huge queues of people waiting to get in, with carrier bags stuffed with share certificates and other documents.

We talked to hundreds of people and simply by putting our heads above the parapet and being prepared to answer questions, when some preferred to keep their heads down, we connected with a huge number of potential new clients. People were looking for someone prepared to provide support and advice at a difficult time, and we were ready and willing.

That is one of the most important lessons I have learned in more than 50 years in financial services. Sometimes it pays to trust your instincts and go your own way, rather than listening to people who tell you not to do something – or following the crowd.

Slam dunk

I began my working life at 17, when I was given my first chance by Harvey Edmonds (who at a later stage in his career would work with me again, for no fewer than 22 years). In those days, he was the branch manager of the TSB in Swadlincote, Derbyshire, and he took me on as a bank clerk.

I was ambitious and after five years working in TSB branches, I moved to a new job promoting TSB investment products in Manchester. In 1985, Nigel Liptrot and I launched our financial advice business, United Financial Corporation Limited, trading as UFC. This is the company that went on to become Marlborough Investment Management.

The UFC name came from our association with Manchester United, who had launched a professional basketball team, which we began to sponsor. Under this arrangement the club allowed us to promote our services to members of the Manchester United supporters’ association.

After Nicholas Cooling joined the business in 1991, we began managing money ourselves. Nicholas, who went on to become our chief investment officer, became a valued friend and colleague and played an important role in growing the Marlborough business with me.

In 1996, we took the decision that we wanted to increase our focus on fund management, rather than expanding the financial advice side of the business. In 1998, UFC bought Marlborough Fund Managers, which was owned by Geoff Hitchin. Geoff ran his own funds but also provided what we today call authorised corporate director (ACD) services to enable other firms to operate funds.

One of those companies was Hargreave Hale and I was introduced to Giles Hargreave, who went on to earn a reputation as a highly respected UK smaller companies fund manager. That introduction was how the long and successful partnership between Marlborough and the investment team at Hargreave Hale (which is today under the Canaccord Asset Management banner) began.

Branching out

Since then, Marlborough has gradually expanded its fund range, so we now have 22 funds, covering a broad range of key global asset classes. We hand pick investment specialists around the globe – including Ausbil, TCW and BEA Union – to run many of our single-strategy portfolios, while also managing some funds in-house.

Our multi-asset investment solutions team use a single investment process and philosophy across all our multi-asset solutions. We offer a managed portfolio solutions (MPS) range, with performance comparable to the best in the industry, and a UK range of multi-asset portfolios.

In addition, we offer a range of risk-graded Irish-domiciled international portfolios that earned us the title of International Fund Management Group of the Year (small/boutique) in the International Adviser Global Financial Services Awards 2025. In last year’s Investment International Awards, our international portfolios won the International DFM Fund/Product of the Year category.

For advisers with clients who require a more tailored approach, we also offer a bespoke portfolio management service, Personal Portfolio.

Our ACD business, Investment Fund Services (IFS), is also going from strength to strength. IFS enables investment managers and other firms in the UK to launch their own funds by providing independent oversight to help protect the best interests of fund investors. It has ultimate regulatory responsibility to the Financial Conduct Authority (FCA).

Overall, as a group we now look after more than £18bn of assets for investors in the UK and around the world.

More to come

As I reflect on the past 40 years, another key lesson has been the importance of working with a talented, highly motivated team. I have been very lucky to work with incredible people. Sometimes you have to make difficult decisions on your own and it is important to trust your own judgement. But the key to growing as a business is to have a strong team around you.

Looking ahead, with Richard Goodall as our group CEO, Marlborough’s plans for growth are more ambitious than ever. Advisers and our other clients really value our approach of building long-term partnerships based on trust. We have a first-class range of investment solutions, and we understand the value of quality service and clear and regular communications to keep advisers and our other clients fully updated about our portfolios and our views on markets.

Forty years on, it feels like the Marlborough story is only just beginning.

Andrew Staley is chair and founder of Marlborough Group