Caerleon-based financial advisory and wealth management firm Fernquest Financial Planning has seen its funds under management increase to just over £14m in its first 12 months of trading.

Luke Fernquest, who is the sole IFA and director for the company, said: "I had a plan to set myself apart by furthering my qualifications and exceeding the normal expectations of an IFA in an industry which has changed a lot over the last couple of years. It appears to be working."

Luke said he was initially planning to get to £5m by Christmas 2014 with the aim of getting to £10m after the first 12 months of the business.

"So I'm thrilled to be so far ahead of what I was aiming for," he said.

He said: "Clients don't want to deal with a faceless national company which only offer a restricted level of advice on a restricted number of products. The whole process just turns into a sales exercise. What I offer is unbiased, independent financial advice, I know each of my clients on a personal level and clients like that. They like the fact that I'll call or meet them outside of pre-agreed review dates if I feel something can be improved. I'm always thinking whenever I see a change in the legislation, the new pension rules for example, who is that going to effect? It's this proactive approach that the majority of national companies are unable to offer and fail to understand. I'm now at a point where I'm not actively looking to take on new clients and instead I'm focusing on servicing my existing clients to a high standard."

Luke, 29, has also been featured in the Sunday Times as one of the UK's top advisers and also achieved chartered and fellowship status in his field, a feat which has been achieved by less than 100 advisers under the age of 35 nationwide according to the chartered insurance institute.

Fernquest Financial Planning is a trading name of 2plan wealth management Ltd.