A Century and a Quarter of Trust: Ault Insurance's Enduring Legacy in West Bromwich and Beyond

West Bromwich, UK – As Ault Insurance prepares to celebrate its 125th anniversary in 2025, its story is far more than a timeline of business transactions; it’s a compelling narrative of adaptation, family dedication, and an unwavering commitment to personal service, deeply woven into the fabric of the West Midlands.

The roots of Ault Insurance stretch back to 1896, born from an unexpected turn in the life of Sydney Ault. A gifted organist, he had achieved the prestigious Fellowship of the Royal College of Organists by age 19, with dreams of a cathedral career. However, a severe back injury forced a change of course. Advised by his future father-in-law, WH Webster, to “go into insurance,” Sydney embarked on a journey that would establish a lasting legacy. Early records, such as an 1896 policy arranged with Law Fire Insurance Society for “household goods, wearing apparel, printed books, philosophical instruments…” for £150 at a premium of 3 shillings, hint at the nascent stages of what would become a cornerstone of local business.

In 1911, the sole proprietorship formalised, incorporating as a company to raise capital from friends and family, operating initially from a single room in the family home. The second generation, John Kinder Ault, joined the business in 1923, experiencing the grit of early insurance work firsthand. He’d cycle around collecting premiums and prospecting, even enduring a tumble down stairs during a particularly hostile cold call. Without employed staff, he frequently walked through town at midnight to post letters, a testament to his dedication. The challenging economic climate of the 1920s, marked by the General Depression, meant the company’s survival was far from guaranteed, making its resilience all the more remarkable.

Adapting Through the Ages and Expanding Services

After World War II, profound social changes prompted Ault Insurance to evolve further, employing its first full-time business executive. The passing of Sydney Ault in 1949 marked a quiet end to the founder’s chapter, but the company’s trajectory continued upwards.

The third generation to head the company, Richard Ault, the founder’s grandson, joined in 1971. By then, the staff had grown to eight, including the “luxury of a bookkeeper.” The business had gradually absorbed more of the family home, expanding into the entire original house by 1969 after the founder’s widow passed. Continued growth in the late 1970s necessitated a move, albeit a short one – just 100 yards – to a larger office block, the freehold of which was later secured. This period also saw Ault Insurance embrace the future with characteristic boldness, computerising its “rather creaky accounting system” in 1980. This early adoption, though a “true baptism of fire” with frequent hardware breakdowns and bug-ridden software, cemented their commitment to efficiency and innovation.

1986 proved to be a pivotal year, marking two significant developments in Ault Insurance’s strategic expansion.

Expansion and Evolution: From Local Roots to Niche Expertise

In that year, the company’s expansion gained further momentum with the formation of Govier & Ault Ltd. Brian Govier, formerly with an insurance company that ceased UK operations, found himself redundant. In conversation with Richard Ault, Brian expressed a desire to run his own broking firm. Richard, keen on expansion, proposed setting up a Gloucester-based insurance broker as part of the Ault Group. This suited both parties.

Initial discussions revolved around acquiring an existing broker in Hereford, partly due to Richard’s father’s concerns about Brian and his wife Clare (who would later become a director) starting a new venture from scratch in their mid-40s. However, these negotiations faltered, leading to the decision to start anew. Thus, in July 1986, Govier & Ault Ltd opened its doors on Bristol Road, Gloucester. Though “not the most salubrious street” , it was bustling with small and larger businesses, and crucially, lacked other insurance brokers. After an inevitable slow start, the company thrived, moving to more professional premises at Pullman Court in 1992. This successful offshoot continued until Clare retired in mid-2001, followed by Brian at year-end, at which point Ault Insurance acquired their shares, integrating the business into its West Bromwich operations.

The advent of the Financial Services Act of 1986 prompted the creation of a separate entity for financial advisory services. J Sydney Ault (Financial Services) Ltd was established around 1987, based at the main office in Kinder House. This new venture also took on responsibility for Proctor Partners Ltd in Harborne. Peter Marshall, initially based in Harborne, moved to West Bromwich around 1991 to join Helen Vaughan. The team expanded further in late 1992 with the arrival of David Griffiths, followed by Tim Forsyth in February 1993. During 1993, the responsibility for financial services at Govier and Ault Ltd in Gloucester was integrated into the West Bromwich operations. For many years, Peter Marshall, Tim Forsyth, David Griffiths, Helen Parker (nee Vaughan), Debbie Holyhead, Pat Loughney, and Harjit Rana provided comprehensive financial services to Ault’s clients and others. This dedicated focus on financial advice underscored Ault’s commitment to offering a holistic service package, adapting to the regulatory landscape to better serve client needs.

It was during this period that the Ault philosophy of “doing the right thing” was powerfully demonstrated. Tim Forsyth vividly recalls a directive from the Regulators (Securities and Investment Board and Personal Investment Authority) in the mid to late 90s to review past pension advice, including transfers from Final Salary schemes and opt-outs. Facing an extensive and costly review, the options were stark: adhere to the guidance, pay potential compensation, and face high Professional Indemnity Insurance costs, or wind up the Financial Services arm to shift liability to the Financial Services Compensation Scheme and restart with a new company. Richard Ault’s decision took “about 1 minute”. His unequivocal answer was: “we do the right thing”. This commitment protected, in Tim’s words, “the integrity and name of Ault’s”. The review took several years and an estimated cost of £500,000, yet for Tim Forsyth, taking this action was “one of my proudest moments to look back on as we held our heads high when others were running away from their responsibilities”.

More recently, Ault Insurance has demonstrated its adaptive strength by developing highly specialised offerings, such as Swimsure. Launched to provide tailored insurance solutions for swimming clubs, teachers, and coaches, Swimsure embodies Ault Insurance’s commitment to understanding specific industry needs and developing bespoke coverage. This dedicated venture showcases their ability to combine broad experience with niche expertise, providing essential protection for a vital community activity.

Leadership and Legacy in the 21st Century

The new millennium brought its own milestones. In 2000, Ault Insurance proudly celebrated its 100th anniversary under Richard Ault’s leadership. The company’s ongoing strength, Richard noted at the time, was due to “its history and strength at backing in the West Midlands,” along with “the long-standing relationship with clients and insurance companies”. He highlighted the company’s “ability to adapt both to the changes within the market and to the needs of clients”. The article from 2000 also proudly stated Ault’s achievement of ISO 9002 quality standard in 1991, making them “one of the first brokers in the area” to achieve this distinction. The emphasis on “personal dedicated personnel,” “wide-ranging advice,” and “strong links with local chambers of commerce” were clearly articulated even then.

Day-to-day management saw John Tew as Managing Director until 2010, when Mark Wedgbury took the helm. Mark skillfully guided the company through the challenges of lockdowns and the COVID-19 pandemic, also overseeing the installation of new solar panels on the roof – a symbol of their forward-thinking approach. Mark retired in 2024, passing the torch to Alan Begley, the new Managing Director. The directorial team now includes Andrew Shaw and Sam Green, both promoted from within, upholding Ault’s tradition of investing in its people.

As Richard Ault’s health declined, his wife, Bronwen Still, former Head of Professional Ethics at the Law Society, became a non-executive director, providing invaluable support and guidance. Upon Richard’s sad passing in 2024, his children, David Ault and Jennifer Paxton, stepped up as the fourth generation of the family’s involvement, becoming majority shareholders. They have brought in Raveem Ismail from Trigger Parametric as a new non-executive director, injecting fresh energy and diverse perspectives into the board. Bronwen Still remains a non-executive director, continuing her vital contribution. It’s worth noting that in 2010, a Management buyout led by Peter Marshall and Tim Forsyth saw Ault Independent Financial Advisers become an independent entity, purchased by four members of the management team. Peter Marshall took early retirement in 2013 , and in December 2015, Ault Independent Financial Advisers was sold to Wealth Solutions (UK) Ltd. This particular evolution demonstrates the dynamic nature of the broader Ault business landscape, with entities growing, adapting, and sometimes transitioning, yet always originating from the core entrepreneurial spirit.

Looking Ahead: 125 Years and Beyond

Today, as Ault Insurance celebrates its 125th anniversary, it remains steadfastly proud of its West Midlands roots and its headquarters in West Bromwich. The company maintains absolute fairness in its working practices, prioritises personal service, and continues its strong commitment to investing in its people, promoting from within at every opportunity. With a rich history of adaptation and client focus, extending from local businesses to specialist areas like Swimsure, Ault Insurance looks forward to an age of AI, new insurance challenges, and a continued dedication to investing in the local economy that has supported it for over a century.