a boost by the marketing efforts of financial planning manager Mr. Peter Howells.

Mr. Howells will operate the new division of Somers Mortgage & Finance using a "one-stop shop'' formula.

Instead of clients shopping around for life insurance policies, trust, retirement and education advice, Somers Financial Services will provide integrated, objective advice about a range of financial products, and specifically tailor them to suit the need of locals -- both Bermudians and expatriates -- individuals and small businesses, said Mr. Howells.

"Financial planning is often used by some financial institutions as a means of marketing their own financial products,'' he said. "I want to offer the best products,'' he said.

He plans to use the "best advice clause'' in the UK's Financial Services Act, which obliges financial salesman not to tout specific products, only the best, as a personal guideline. Somers Financial Services will offer cash management, debt management, investment analysis, insurance analysis, and retirement, education and estate planning.

The new division has made agency arrangements with Bermuda Life Insurance Company, Colonial Insurance Company, and Bermuda Fire and Marine.

Mr. Howells first came to Bermuda in 1960, and then returned to the UK where he pursued a career in financial services.

An aspect of his career in the UK included advising expatriates about tax planning.

He returned to Bermuda in 1987, and was employed by the Bank of Butterfield, within its trust department until February 1993, when he joined Bermuda Commercial Bank (BCB).

Somers Mortgage & Finance was set up former BCB managing director Mr. Richard Francis, who also saw an further opportunity for financial planning services in Bermuda.

"Somers Financial Services is the natural extension of services offered by Somers Mortgage & Finance,'' said Mr. Howells.

The company is located on Queen Street, Hamilton, and an initial consultation is free.

FINANCIAL PLANNER -- Mr. Peter Howells is managing the new division of Somers Mortgage & Finance, called Somers Financial Services.