Business Action | February / March 2019

NEWS
NORTH DEVON HAS
BEST COLLEGE IN UK
North Devon wealth manager
and independent financial
advisers Philip J Milton
& Company Plc has been
appointed to manage a
further £55 million on behalf
of more than 1,600 new
individual investors.
Approached to help
The firm did not seek out the
opportunity, but was contacted
for its connections,
stability, trust and reputation
following the suspension of
the fund’s previous Londonbased
investment manager
by the Financial Conduct
Authority in December.
Managing director Philip
Petroc has been rated first out of 183 UK Further Education colleges
by education industry magazine FE Week
Toasting success: (from left) FE Week publisher Shane Mann, Petroc
principal Diane Dimond, Petroc vice principal Bill Blythe and FE Week
editor Nick Linford
Skills are one of the top
concerns for North Devon
businesses and the area has
received a massive boost
after Petroc was named top
Further Education college out
of 183 colleges in the UK in
FE Week’s annual NICDEX
league table.
NICDEX rates colleges in
four categories – learner satisfaction,
employer satisfaction,
16-to-18 positive progression
and adults into employment
– with a maximum potential
score of 40. Scores are based
on official criteria published
by the Department for
Education.
Petroc scored 93.8% for
employer satisfaction, 92%
for 16-to-18 positive progression,
56% for adult progression
into work and 81% for
learner satisfaction. Petroc’s
overall score of 36 placed it
two points above the second
place colleges and knocked
previous winner Exeter
College off the top spot.
Diane Dimond, principal
and CEO, said: “We’re
absolutely delighted to be top
of this highly-regarded league
table, improving on last year’s
second place.
“My thanks go to all of our
amazing staff and hardworking
students, as well as
employers and partners in
the area who work so closely
with us.
“At Petroc, success at
Milton commented: “Earlier
in the year, we achieved a
record £150 million under
our discretionary management,
where clients entrust
us with the daily decisions
for the management of
their capital with us. This is
something of which we were
immensely proud, albeit
Brexit-related volatility has
made this task challenging.
“This addition will take
total funds under our
management to over £200
million, which is a wonderful
achievement. This is also an
incredibly positive endorsement
of our services in that
the decision of the fund’s
every level is promoted as a
positive driver for continuing
in education and gaining
employment and every year
our students go on to the best
universities in the country,
higher and degree apprenticeships
as well as skilled careers.
“We pride ourselves on our
strong links with employers,
ensuring our learners have
great work opportunities
trustees and administrators
to appoint us reflects the
firm’s prowess, competence
and capabilities, as well as
our integrity and longevity.”
Philip J Milton &
Company will manage the
extra, segregated funds
without providing financial
advice at this stage and its
existing systems are fully
capable of managing the
increase in its work load.
“This really is wonderful
news for the firm,” added
Philip. “Our existing discretionary
investment clients
will also benefit as this gives
us improved economies of
scale and new investment
available to them, and I truly
believe this is why we have
such success with student
progression into employment.
We work closely with
organisations across a wide
range of sectors, and value
their feedback to shape our
curriculum and ensure we’re
meeting the needs of our
communities. The fact that
over 93% of employers would
recommend us as a training
provider is fantastic and
makes me extremely proud.”
Devon as a county scored
highly with City College
Plymouth, Exeter College and
South Devon College also
achieving top 12 positions.
Investment in Petroc’s
services will continue after
the announcement that it has
secured £1.2 million from the
European Regional Development
Fund to create a Centre
of Technology and Innovation
Excellence at its North Devon
campus in Barnstaple.
■■Details 01271 345291 or
petroc.ac.uk
Financial advisers to manage a further £55 million
opportunities for further
possible diversity and
support to existing holdings.
“We shall also be viewed as
a bigger ‘player’ in the market
at large, giving us the opportunity
of being propelled into
a new level of operation.”
Future expansion
Philip believes it will support
expansion of the firm’s
services and 30-strong team
and boost the North Devon
economy. He says it shows the
area is establishing the gravitas
to attract such confidence
from across the country.
■■Details 01271 344300 or
miltonpj.net
2 business action | February / March 2019 | business-action.co.uk