A German high-tech IFA which spots future wealthy clients while they are still at college enters the UK next month.
MLP consultants combine personal and online advice. It will initially have a branch network in the UK of 11 consultants targeting high-net-worth individuals. Its UK strategy will be similar to its German, Austrian and Dutch operations.
The Heidelberg-based group's profits rose by 40 per cent over the past year to £68.8m from £48.6m in 1999. It has a client base of 370,000 and has 2,000 consultants in 220 branches based near university campuses across Europe. Training is intensive and consultants get up to 87 days training a year.
Millfield Partnership managing director Bryan Beeston says: “This is their first sojourn into a regulated market so it will be interesting to see if they adapt their business model.”