Financial planning firm Boosst, has transitioned to an employee ownership trust to ensure the business’s long-term independence.
Josh Butten, who operates as managing director, will continue in this role and take on additional responsibilities as well as being issued share options.
He has transferred 100 per cent of his shares to the EOT alongside Keith and Linda Butten, without imposing any third party debt on the business.
The new independent trustee is Steve Hardy, one of Keith’s first clients who shares a deep understanding of the business and family values.
Since its inception in 2018, Boosst has built an eco-friendly office and won the CISI’s Accredited Financial Planning firms of the Year award in 2020.
The firm has said the change to an EOT demonstrates its dedication to “doing the right thing for the right people”.
Keith Butten, owner of Boosst, said although it had become the industry norm, selling the firm's team and clients to an external entity “would never sit right for the family”.
“With Josh as a second-generation owner aged 32, Boosst was already in a strong position when it comes to longevity. This change to employee-ownership shows our commitment to our employees and our clients that Boosst truly exists for their benefit,
“Becoming employee owned is the best possible news for clients as they will be dealing with the same people, same ethos, same values and now know that their favourite Boosst team members have a confirmed stake in Boossts future success,” Butten added.
alina.khan@ft.com
