Financial Services News

​RBC Brewin Dolphin expands Cardiff presence with new office move - RBC Brewin Dolphin has relocated its Cardiff team as part of its continued investment in the region. Led by Geraint Hampson-Jones, the 38-strong team has supported private clients, charities, trustees and pension funds across the area for more than three decades.

Vanguard launches first UK bespoke model portfolio partnership - Vanguard has teamed up with Manchester-based Rosebridge Asset Management to create a tailored model portfolio service. The partnership marks the investment giant’s first custom MPS arrangement in the UK, providing five portfolios built using Vanguard index funds.

Abrdn announces office closures as financial planning business restructures - Abrdn is set to close its Reading and Sheffield offices as part of changes to its financial planning division. The restructuring will see the business move towards a new financial consultant and regional advice model, with potential job losses expected.

Evelyn Partners launches digital financial coaching platform - Evelyn Partners has introduced Moneyhealth, a new digital platform designed to provide workplace financial coaching. The service offers employees access to guidance on areas including budgeting, pensions, investing, tax and debt management.

Söderberg & Partners secures £171m investment to support global growth - Swedish wealth manager Söderberg & Partners has raised £170.9m from existing investor KKR to support its international expansion plans. The funding will help accelerate growth across key markets including the UK and Spain.

Mergers & Acquisitions

Rathbones shareholders approve £839m Investec Wealth & Investment acquisition - Rathbones has received shareholder approval for its proposed acquisition of Investec Wealth & Investment. Around 94% of votes supported the deal, marking a significant milestone towards completion.

Evelyn Partners invests almost £20m in acquisition strategy - Evelyn Partners has continued its acquisition drive, spending nearly £20m on smaller advice businesses since 2022. The group completed several deals during the year and has continued expanding its footprint across the UK advice market.

Evelyn Partners agrees acquisition of Dart Capital - Evelyn Partners is set to acquire boutique wealth manager Dart Capital, adding further assets and expertise to its growing business. Dart Capital manages £739m in assets and will strengthen Evelyn’s existing £55bn+ advice and investment platform.

Corbel Partners completes four acquisitions to support adviser succession plans - Corbel Partners has completed four acquisitions as part of its strategy to help advisers plan their future exits. One of the acquired firms, Wealth Design, will retain its existing brand and team while joining the wider Corbel network.

Perspective Financial Group completes four further acquisitions - Perspective Financial Group has completed four additional acquisitions, bringing its total deals for the first half of 2023 to 12. The latest purchases strengthen its national presence, with the group now operating 31 offices across the UK.

Titan Wealth acquires Square Mile investment consultancy - Titan Wealth has announced the acquisition of investment research and consultancy firm Square Mile, subject to regulatory approval. The deal will increase Titan’s assets under management to £12bn.

Movers

Columbia Threadneedle CEO Nick Ring announces retirement - Nick Ring, Chief Executive of Columbia Threadneedle’s EMEA business, will retire at the end of 2023 following more than 30 years in asset management. He previously held senior roles at Jupiter and Threadneedle Asset Management.

Wealth veteran Peter Land joins Capital Financial Markets - Experienced wealth manager Peter Land has joined investment boutique Capital Financial Markets. Bringing around four decades of industry experience, Land previously spent seven years at Walker Crips and more than 17 years at Brewin Dolphin.

Canaccord Genuity appoints Hazel Bowen to lead regional advice expansion - Canaccord Genuity Wealth Management has hired Chartered Financial Planner Hazel Bowen to establish a new advice arm in Norwich. Bowen joins from Coutts, where she worked with high-net-worth and ultra-high-net-worth clients.

7IM sees senior departures amid technology restructure - 7IM has announced changes to its technology and client service teams, with Chief Technology and Information Officer Will Thornton-Reid departing the business. Chris Phillips will take over responsibility for technology leadership.

Gore Browne founder Simon James retires after 19 years - Simon James, co-founder and Chief Investment Officer at Gore Browne Investment Management, is retiring after nearly two decades with the firm. His responsibilities will transition to Hawksmoor’s wider investment team.

Close Brothers Asset Management hires Investec veteran - Marcus Vertue has joined Close Brothers Asset Management as Senior Investment Director following a 36-year career at Investec Wealth & Investment. He will focus on managing portfolios for high-net-worth clients.

Benchmark Financial Planning appoints new Managing Director - Peter O’Sullivan is stepping down as Managing Director of Benchmark Financial Planning after a 36-year career in financial services. Tim Sargisson has been appointed as his successor, subject to regulatory approval.

Raymond James launches Newcastle office with former Brewin team - Raymond James has opened a new Newcastle office led by former RBC Brewin Dolphin director Gary Fawcett. The new team includes two additional Brewin alumni and will focus on clients across the North East.

Franklin Templeton strengthens UK sales team with new appointment - Franklin Templeton has appointed Jacob Rowe as Business Development Director covering the South West and Midlands. Rowe joins from Russell Investments, where he progressed to Sales Director.

Cazenove Capital expands northern presence with Brown Shipley hire - Cazenove Capital has appointed Nathalie Connell as Associate Portfolio Manager for the North West. Connell joins from Brown Shipley, where she spent more than four years supporting clients.

Evelyn Partners appoints former rugby player as Financial Planning Director - Former professional rugby player Craig Dowsett has joined Evelyn Partners as Financial Planning Director in London. Dowsett brings more than seven years of financial planning experience.

Evelyn Partners names Paul Geddes as new CEO - Evelyn Partners has announced Paul Geddes as its incoming Chief Executive Officer, subject to regulatory approval. Geddes brings more than three decades of leadership experience and will succeed Chris Woodhouse.

Investec Wealth & Investment adds experienced investment manager - Investec Wealth & Investment has strengthened its Cheltenham team with the appointment of James Neale as Investment Manager. Neale joins from Canaccord Genuity Wealth Management.

Brooks Macdonald appoints Aviva executive as CFO - Brooks Macdonald has appointed Andrea Montague as Chief Financial Officer. Montague joins from Aviva, where she held the role of Chief Risk Officer.

Waverton appoints new Chief Financial Officer - Waverton Investment has appointed Steve Chhoker as CFO, replacing David Welch. Chhoker joins from WH Ireland and brings two decades of financial services experience.

Vermeer Partners hires Cazenove director to launch planning arm - Vermeer Partners has appointed Chris Hogarth to lead the launch of a new financial planning business. Hogarth brings around 20 years’ experience across financial planning and advisory roles.

JM Finn strengthens wealth planning team with new hire - JM Finn has appointed Rebecca Dawkins as Associate Wealth Planner as part of its continued investment in its wealth planning division.

Fairstone appoints Simon Wilson as Chief Financial Officer - Fairstone has expanded its leadership team with the appointment of Simon Wilson as CFO. Wilson brings almost 30 years’ experience across financial services and investment businesses.

Continuum expands Wiltshire advice team - National advice firm Continuum has appointed Chartered Financial Planner Stephen Hall to strengthen its Wiltshire presence. Hall joins with more than 23 years’ experience in financial advice.

NextWealth appoints new Consulting Director - Research specialist NextWealth has appointed Emma Napier as Consulting Director to support the continued growth of its services. Napier joins with extensive experience across platforms and financial services.

M&G appoints new Asset Management COO - M&G Investments has appointed Richard Godfrey as Chief Operating Officer for asset management, subject to regulatory approval. Godfrey joins from HSBC, where he held senior operational leadership roles.

Legal & General Retail creates new Head of Retail App role - Legal & General Retail has appointed Matt Kirwin as its first Head of Retail App. Kirwin brings more than 20 years’ financial services experience, including digital strategy expertise from Barclays.

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All information provided in this Market Digest has been gathered from Money Marketing, Financial Planning Today and Citywire Wealth Manager.