These are exciting times for Infinity Finance Group, with its managing director Tony Insall leading the thriving business into new headquarters and a new era.

Following the acquisition of North Ormesby-based Alpha Independent Financial Planning last October and significant six-figure investment, ambitious plans and ideas are becoming a reality.

The rapidly-growing Infinity Finance Group has moved into its new premises on Yarm High Street, just down from Barclays.

“It’s a sign of our growth, we love it,” smiles Tony. “When you walk by you will see the Alpha branding. It’s the perfect office size for where we are now.

“We have loads of space on the top floor, where Infinity Finance Group and its back-office support staff are operating from. Alpha IFP and its advisors are on the first floor, where there is also a meeting room for clients and a boardroom for meetings and staff training.”

Together Infinity – specialising in group protection and individual insurances and helping firms access R&D tax credits – and Alpha – a hugely respected independent financial business which has been around since 2004, managed by founder John Murphy – have gone through a recent major restructuring exercise.

This is due to the growth and various business streams which became effective at the end of August and has resulted in a parent company being formed, Infinity Finance Group Holdings.

It is full steam ahead for a November launch of intriguing new arms of Infinity Finance Group. The parent company is set to launch Infinity Protect and Infinity Early Pay.

Those will also lead to a new app which has been developed with a top-level development company for use on iOS and Android. This is currently undergoing Beta testing and approval from both stores.

What Alpha will gain from the restructuring will be significant growth. This will lead to a requirement for more mortgage and financial advisers to work with Alpha to service the client requests for protection, mortgage, savings, pension and investment advice.

Further advisers will be employed, with the recruitment of one person who will be supported through a financial services apprenticeship. A further three mortgage and protection advisers and two financial advisers are expected to follow within the next six months.

Tony described to Tees Business what each new aspect of the group means:

INFINITY PROTECT

“We are now working with a global provider of insurance which is writing our very own personal accident policy which will be unique to us.

“When someone buys this type of insurance, we can now provide the personal accident insurance directly ourselves. We have worked on this for months and we are on target to launch in November.

“There is a lot of regulation and compliance to cover, but the reason we have created Protect was because we want to offer better value to the employers who we work with currently.

“The price of the product is reduced, which allows us to pass on those savings direct to the client. We will also be able to work with other insurance brokers who can sell on the product to employers and the general public.

“We have been approached by several employment agencies to add this to their employee benefit packages as it is a great way of those employees having peace of mind that they will have some income should they not be able to work due to injuries sustained in an accident.”

INFINITY EARLY PAY

“Infinity Early Pay is designed to change the way that those working zero-hours contracts get paid. This will allow employers the opportunity to provide employee benefits that mean something to their staff.

“With employment agencies, historically there have been a lot of zero-hour contracts. There tends to be a big staff turnover because there is no reason for the staff to stay.

“I was reading Harvard Business Magazine and came across “early pay” for zero-hour contracts. Employees didn’t have to work the weeks in hand to get the money they were owed. They could withdraw a percentage of their pay on the days they worked, which allowed them to pay for travel to attend the workplace or provide them with financial support during the first weeks of their employment.

“For example, when an applicant starts employment at a factory and gets paid £100 a day, they would be able to withdraw a percentage of that pay instead of waiting until the end of the following week. That’s where our early pay idea came from.

“We are working with the employment agency partners to offer it as a package to all applicants. As part of the package they will get access to the personal accident plan, access to payment solutions, early pay and then with Alpha they get free mortgage, pensions and savings advice.”

The widening approach means Infinity Finance Group’s increased offerings have a greater focus on helping broader society as well as the businesses they have successfully worked with over the years.

Tony said: “The early market research we have looked at suggests that those who provide early pay in the USA and the UK have increased retention of staff by 80 per cent at places where this is offered.

“It is also going to assist them in maintaining their credit rating. If they get an unexpected bill that comes in, and they don’t have enough money due to having to work a week in hand prior to getting paid, they can withdraw early and they will be able to pay that bill.

“It’s financial education. The whole emphasis is to help people manage finances better. All of this education and advice access will be built into the app to allow ease of access for the client.”