Former Sesame boss launches DFM

AppleFormer Sesame Bankhall chief executive George Higginson and ex-HSBC global head of wealth insurance Geoff Brooks have launched a discretionary fund manager.

Alpha Beta Partners offers a range of actively managed and passive portfolios investing in ETFs, investment trusts and direct securities.

The business was originally launched last year by Kevin Doran under the name Alphabet Investment Partners. Doran left the firm after becoming AJ Bell chief investment officer.

Doran set up the business with Host Capital director Shahid Chaudri, who remains on board as CIO.

Higginson says the new service could “significantly change the way wealth managers run their client portfolios”.

He says: “Many of the UK’s leading wealth management firms employ highly paid investment managers to run in-house DFMs. It is a very expensive way of handling client money.

“The launch of our new service is – in our view – going to be a serious challenge to the more traditional DFM routes. We have no private clients and so pose no threat to advisers and wealth managers using our service.

“By outsourcing to our low-cost service, the adviser/wealth manager will retain control whilst knowing that their clients’ capital is securely managed in high performing model portfolios.”

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