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Advice firm and DFM to float on Aim


Financial planning firm and discretionary fund manager Harwood Wealth is to apply for admission to the Alternative Investment Market.

It has raised £13.5m ahead of the planned flotation, which will be used to fund acquisitions and infrastructure costs.

Harwood Wealth has completed 40 acquisition or share deals so far, including Meon Valley Financial Planning and investment management business Wellian Investment Solutions.

The business runs a vertically integrated model targeting clients with between £200,000 and £500,000 of investable assets.

It has over 80 advisers and assets under advice of over £1.25bn.

Harwood Wealth is jointly led by Neil Dunkley and Alan Durrant. Dunkley worked in Prudential’s high-net-worth division before co-founding Compass Wealth Management Group, which went on to become Harwood Wealth. Durrant was previously chief investment officer at Skandia and former investment director at Hargreaves Lansdown.

The company also has former Skandia chief executive Peter Mann among its non-executive directors, and its CIO is former Architas CIO Richard Philbin.

Joint chief executive Alan Durrant says: “Following the RDR the industry is undergoing significant structural change.

“Many advice firms have strong client books but unworkable, fragmented models, rising regulatory costs and a need to outsource certain functions or to be acquired.  All these factors create a significant opportunity for Harwood Wealth’s acquisitive growth strategy and the vertically integrated model.”



Harwood swoops for Wellian Investment Solutions

Harwood Capital Management has bought discretionary fund manager Wellian Investment Solutions to bolster its multi-manager offering. Harwood says the Tunbridge Wells-based company, which has £185m in assets under management, will be an integral part of its multi-manager business. Wellian’s Alan Durrant and Richard Philbin will continue to be chief executive and chief investment officer at the firm respectively, […]

Durrant and Philbin team up for Harwood Multi Manager launch

Skandia Best Ideas founder Alan Durrant and former F&C and Architas multi-manager Richard Philbin have joined forces to launch the new Harwood Multi Manager business. Durrant will be chief executive of the new business, which is part of boutique investment group Harwood Capital, while Philbin will be chief investment officer. Harwood Multi Manager, which is […]

AFH Alan Hudson 700

Acquisitions push AFH revenues up 40%

Total revenue at advice consolidator AFH Financial grew 40 per cent during 2015 as the firm completed 11 acqusitions. Year end results published today show revenues grew from £15m in 2014 to £21m last year. Pre-tax profits were up by 86 per cent, from £860,000 to £1.6m, while funds under management with ongoing fee agreements […]

AFH Alan Hudson 700

AFH to raise £6.5m in acquisition push

IFA consolidator AFH Financial is aiming to raise up to £6.5m in new funding through a share offering. The AIM-listed firm has issued 2.7m placing share at 165p each and 1.2m subscription shares also at 165p per share. AFH says the placing price is discounted at 12.7 per cent compared to the closing share price […]

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]


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