Meet Malcolm Steel

Post by Mearns & Company in News

Malcolm Steel, Chartered Financial Planner at Mearns & Company, answers some questions about his career to date and life in general.

What was your route to Mearns & Company?

As a family business, it was perhaps inevitable, although it didn’t seem that way at the time. I spent several years working in the financial services sector with a number of businesses, including a wonderful firm of financial advisers and some of the UK’s biggest investment and pension companies, before making my best career move and finally joining Mearns & Company in January 2007.

What do you think is the best perk about working for Mearns & Company?

Ever since I can remember, I’ve always had a very strong sense of responsibility. At Mearns & Company the work that we do has real purpose and I take great satisfaction in helping our clients to meet their long-term goals and achieve financial security.

I also want to mention my colleagues. I am so proud of the fantastic people that I work with and we have a strong team spirit. I’ve been impressed at how well we’ve kept this going through lockdown, but I must say that I cannot wait to see everyone again once we are all able to be together. I suspect the first Friday night post-work trip to the pub could get quite messy (and emotional)!

What was your first job?

I worked as an administrator in another Edinburgh IFA for three years from 1996 to 1999. The founder of that business invested a lot of time personally in developing their staff, so it was a fantastic place to learn.

What has been your best purchase or investment?

When I think of the times that I’ve been happiest in life, these are mostly holiday and travel memories. I’m so grateful to have travelled well, and also to have shared these experiences with my wife and children; particularly in 2020/21 when this is unobtainable.

In terms of an item, my most recent purchase is a new acoustic guitar. The Lag Hyvibe is the world’s first smart guitar and it is a remarkable instrument. A recommended purchase for all guitarists.

What has been your worst purchase or investment?

My wife constantly reminds me about the time that I spent £250 on a watch which was also a camera. This was in the early 2000’s, so the technology was new, but also useless (I think the watch could hold half a dozen grainy black and white photos). It was also a very ugly, bulky watch so I think I only wore it once. Although it was a terrible purchase and I had instant buyers regret, it does serve as a reminder about how far technology has developed in the past 20 years!

What would you do if you won the lottery?

I’d spend some time with one of my colleagues working on a financial cashflow plan to establish how much I should retain to meet my long-term financial goals, and then I’d gift the rest away.

I would also continue to work, because I really do love my job.

What was the last picture you took?

I took a lovely photo of my kids sitting on some driftwood at a hidden beach near South Queensferry at the weekend. The sun was shining and the water was calm. Let’s hope for more days like that this year!

To read more about Malcolm’s role at Mearns & Company click here.