The father of two, and grandfather of three, started his career 45 years ago. He steps down as managing director, with financial services director Michele Parker taking the role, but stays at the company, which has its head office at Edginswell Park in Torquay, switching to working two days a week.

“Firstly I want to praise my successor Michele Parker. Anyone who knows Michele will be aware of her experience and technical expertise in all aspects of financial services, especially inheritance tax planning and trust work. There are far more women in business these days holding top jobs and having worked with Michele for a number of years, she is up there with the best of them.”

“It is her energy and enthusiasm that will secure a bright future for our Financial Services department.”

Pavey Group, which has a second office at Peninsula Park in Exeter, provides independent insurance and financial advice to businesses, individuals and families across Devon, the South West and the UK.

Malcolm, who lives in Torbay, has witnessed huge changes in his four-and-a-half decades in the insurance sector.

“It has changed beyond recognition. I think the image people had of financial services in the past is now firmly in the past, and clients respect and appreciate our expertise. Perhaps the biggest change I have seen is the need for on-going financial advice, rather than a single transaction, whether corporate or personal.

“We made a good business decision some years ago to seek on-going client relationships and as a result now advise sons and daughters of existing clients and have been fortunate to see many of our business clients grow in size and stature.”

Colleague Graham Brown paid tribute to Malcolm’s achievements.

“Malcolm has skilfully lead Pavey Group Financial services through challenging times for the profession, and has successfully positioned the business as one of the leading financial services firms in the South West. His wise counsel and humour will endure but he has a wonderful successor in Michele.”

Malcolm is looking forward to spending time with his family and enjoying his sporting loves.

He said: “I am vice-captain of Torquay Golf Club and have three grandchildren, Charlie, Amelie and Harry. That’s my immediate work-life balance, and to stay healthy and support Arsenal! I have been very proud to have been part of the group’s development with financial services playing such an important role.”

And he is optimistic about the future of Pavey Group, which is recognised as a Top 100 independent broker nationally.

“Our business plan continues to focus on development and growth. The board of directors has an excellent blend of youth and experience with all staff capable of delivering continued success.”

With two offices, in Torquay and Exeter, and 90 staff it is sometimes difficult to remember names, especially as I am reminded frequently that I am the oldest in the group! I continue to love my time at Pavey Group. Our team culture is fantastic, with each department and office willing to support the other.”