James Priday graduated from the University of Exeter in 2011, and is currently the MD at Prydis Wealth and CEO of P1 Investment Management
After graduating with a First in BA Accounting and Finance, I was invited by the University to stay on for a year to complete a Masters in the same subject and to teach undergraduate accountancy. This meant I could not only get a free Masters degree, but I would also be paid to teach at a University – fantastic at 21 years old! This was an opportunity I therefore enthusiastically took up. However, I had to give up a position in the Corporate Finance team at EY which I had already been offered. This was a decision that I didn’t take lightly but is one I now know was very much the right thing for me to do. At that point I didn’t know if I wanted a career at a big firm, or if I wanted to find my own path; either within smaller companies or my own business. Either way, both degrees would set me up very well for the future.
“I genuinely believe that the base knowledge, skills, and contacts I made at Exeter were the springboard to all of the things I have gone on to do.”
While at University I had also set up my own business developing fitness products. I did this with the help of the University’s Innovation Centre (now Think, Try, Do). The skills I learnt through that process have proved invaluable.
I have to admit; I didn’t have the usual University life. The social side didn’t interest me much, and I was more focused on getting ahead in life. That was far more important to me at that stage. Because of this, I was also completing professional qualifications alongside my degree, and before I had finished at Uni, I was qualified as an investment manager with the Chartered Institute for Securities and Investment (CISI), and as a financial adviser with the Chartered Insurance Institute (CII).
When I came to finishing the Masters, it had become clear to me that I needed to have full control over my future, and therefore a career at a big firm was not for me. I had a conversation with my father and brother that would change the course of my life.
My brother had just come out of PWC as a Chartered Tax Adviser and started working with my father, who had a small accountancy and financial advisory business. We as a family took the decision that my brother would take over the accountancy firm, and I would take over the financial advisory side, allowing my father to step back from the day-to-day business operations, and enable us to inject some fresh energy and ideas into the business.
We quickly rebranded the firm, and set-up a law firm to complement our accountancy and financial advisory activities. This was only possible because the rules changed in 2012, allowing non-lawyers to own a law firm. During this time I also obtained regulatory permission for the financial advisory business to manage investments. These two developments allowed us to serve clients internally across a number of areas, which was, and I believe still is, something unique in the UK. The new group is called Prydis.
Since 2012, we have grown the business six-fold, with 75 staff and four offices. I have also moved our investment management activities into a separate company, P1 Investment Management. P1 serves not only our clients, but also the clients of other financial advisory firms. Additionally, I have developed a consumer-facing online investment platform, Strawberry Invest, and a new financial advisory offering, Financial Solutions.
Life has turned complicated, but exciting and rewarding. I genuinely believe that the base knowledge, skills, and contacts I made at Exeter University were the springboard to all of the things I have gone on to do.