A rapidly growing financial firm, has launched brand new wealth management and insurance businesses.

Durham based 313 Financial, provides mortgage and insurance brokerage services but the creation of 313 Wealth and 313 Insurance – along with the appointments of two highly specialised Managing Directors – will expand the firm’s scope and potential client base.

Established in 2016 by directors’ Jordan Sanders, 31, from Belmont and Paul Gray, 31, from Hartlepool, the growth of 313 Financial has been remarkable.

Initially just the two directors working out of Paul’s spare bedroom, the 313 team now numbers 16 and the business has seen its workforce and turnover more than double in 2019. With turnover projected to exceed £1 million for the current financial year and negotiations for new premises underway, it is hoped the move to expand the service offering will bolster the company’s ambitious plans to become the region’s leading financial services provider.

313 Wealth will be headed up by Richard Weatherburn, 30, originally from Gilesgate, who has over ten years of wealth management experience, either side of a five year spell in the armed forces.

It will offer advice on – and management of – pensions, investments, inheritance tax planning and financial planning for business, as well as providing a private client team to look after £1million plus, asset management customers.

Richard has always placed a huge emphasis on client care and has a determination to bring financial planning into the 21st Century.

He said: “There are a plethora of outstanding technological solutions that can make us better at our jobs and very few firms seem to buy into them. These can make business more efficient, saving money that can be passed on to clients by reducing the fees they have to pay.

“313 Financial has already embraced these new opportunities and together, we will put client service and technology at the core of our group’s new business proposition. The leadership team we have established is cohesive and we complement each other brilliantly. I really feel that there is no limit to what we can achieve together.”

313 Insurance will be managed by Craig Younger, 30, from Gilesgate. With seven years’ experience in the industry – and a previous winner of the Broker Apprentice of the year award – Craig and his team will source and offer advice on a range of insurances, including home, buildings and contents, car, public liability and business and commercial cover.

Craig is also one of the first brokers to enrol on the Aviva Future Leader programme, launched in 2018, which hand picks the best talent in the industry and trains and mentors individuals to establish their own brokerage businesses.

He said: “Jordan and Paul have done an amazing job, using the best technology available to create a fantastic customer service team – which is at the heart of 313’s success. This client focussed approach mirrors my own ambitions for the Insurance side of the business and the immediate priority of 313 Insurance, will be to deliver the highest standard home insurance, in the easiest possible manner, taking this stress away from the process of moving home.

“From here, the intention is to utilise the foundations of my own business network, to tap in to new opportunities in the business and commercial insurance sector. I can’t wait to get going with this new venture and already see huge potential for where we can take 313 in the future.”

Jordan added: “We’re delighted to have Richard and Craig on board and to be expanding the breadth of the services we can offer to our customers. I’ve known both of them for a number of years and have complete trust in their abilities, as well as confidence that they will deliver the high quality service and customer satisfaction that 313 has built its reputation on.”