This article was first published in the Shetland Times on 27 June 2025.
Running a business today is no small feat. Whether you’re managing a team of five or fifty, navigating economic uncertainty, or simply trying to do right by your employees, the pressures can feel relentless. But amid the spreadsheets, deadlines, and day-to-day demands, there’s one area that often gets overlooked — yet has the power to transform not just your business, but the lives of the people who help it run.
We’re talking about financial planning. Not just for you, the business owner, but for your team. Because when done well, it’s not just about numbers — it’s about people, purpose, and building something that lasts.
At Spectrum Wealth Group, we work with small- and medium-sized businesses across Scotland to help them do just that. Leading our corporate services team are two seasoned professionals: Director Alistair Creevy and Corporate Manager Derek Rush. Together, they bring decades of experience in financial planning, a deep understanding of the challenges local businesses face, and a shared belief that financial planning should be personal, practical, and purposeful.
Why employee benefits are about more than perks
In a world where job ads boast everything from free coffee to ping-pong tables, it’s easy to think of employee benefits as just another recruitment gimmick. But the truth is, meaningful benefits — like pensions, healthcare, and protection policies — can make a real difference in people’s lives.
They offer peace of mind. They show your team that you value them. And they help create a workplace where people feel supported, not just as employees, but as human beings.
The business case for caring
Let’s be honest — offering benefits costs money. But it’s also an investment. One that can pay off in ways that go far beyond the bottom line:
- Retention: A strong benefits package helps keep your best people where they belong.
- Attraction: Benefits can set you apart in a competitive job market.
- Productivity: When people aren’t worrying about their health or finances, they can focus on doing their best work.
- Culture: A business that looks after its people builds loyalty, trust, and a sense of shared purpose.
Tailored support for local businesses
No two businesses are the same. That’s why we don’t do off-the-shelf solutions. Alistair and Derek take the time to get to know you — your business, your team, your goals. Then we build a plan that fits. That might include:
- Company pensions – We offer support with pension legislation, governance (like re-enrolment duties), and full administration. We also work closely with your payroll contacts to ensure your pension scheme stays compliant, tax efficient and up to date.
- Group life insurance – A cost-effective way to provide life cover for some or all staff, often without the need for medical underwriting. It’s a valued benefit that can be aligned with salary packages.
- Group income protection – This benefit can cover up to 75% of the salary for employees unable to work due to illness, after a chosen deferred period. It’s especially popular for senior staff and can replace individual cover.
- Group critical illness – Offers a lump sum payment if an employee is diagnosed with a critical illness. Like income protection, it’s often used for senior staff and can be a powerful addition to a benefits package.
- Group private medical insurance – Provides access to private healthcare for employees, with optional family cover. It’s increasingly popular due to NHS pressures and can be paid by the employer or deducted from salaries.
- Key person/shareholder insurance – Pays a lump sum to the business if a key employee or shareholder suffers a critical illness or passes away. This helps protect the company’s financial stability and ownership structure.
Planning with purpose
We often talk to business owners who want to do more for their team but aren’t sure where to start. Maybe you’ve thought about offering benefits but worry about the cost. Maybe you’ve already got something in place but aren’t sure it’s working. Or maybe you just want to make sure your business is doing right by the people who make it tick.
Wherever you’re starting from, we’re here to help.
We believe that financial planning isn’t just about ticking boxes — it’s about aligning your business with your values. It’s about asking: What kind of workplace do I want to build? What kind of legacy do I want to leave? And how can I use the tools available to support the people who support me?
Local presence, lasting relationships
At Spectrum, we’re proud to be more than just a voice on the phone. We’re committed to being present in Shetland and across Scotland, making regular visits throughout the year to meet you face-to-face. We believe that strong relationships are built in person—through real conversations, shared understanding, and a genuine commitment to your success. Whether you’re in Lerwick or further afield, we’re here to support you where you are.
Let’s talk about your business
If you’re a business owner in Shetland — or anywhere in Scotland — and you’re thinking about how to better support your team, we’d love to hear from you.
Whether you’re starting from scratch or looking to improve what you already have, Alistair and Derek can help you build a plan that works for your business, your budget, and your people.
Because at the end of the day, business isn’t just about profit. It’s about people. And when you look after them, they’ll look after you.
Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.
Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.
A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.
Levels and bases of, and reliefs from, taxation are subject to change and their value will depend upon personal circumstances. Taxation and pension legislation may change in the future.
Cover will cease on insurance products if premium payments are not maintained.
The Financial Conduct Authority does not regulate some aspects of cashflow, trusts, tax and estate planning.
