Former Charcol IFA Jane Robinson is setting up a wealth management firm that will receive referrals from Hamptons International Mortgages.
Square Mile Wealth will focus on top-tier high-net-worth advice, with a focus on pensions, divorce and inheritance tax planning. It will get around 30 leads a week from Hamptons, which also holds a stake in the IFA.
Robinson takes the role of managing director of Square Mile Wealth, joined by three other advisers from Millfield, Charcol and Westminster.
Square Mile aims to be achieve a turnover of £800,000 with six advisers by the end of 2005 and £2m with 12 advisers by 2008.
Robinson has a 20 per cent share of the business. All IFAs involved will acc-rue shares based on performance and longevity in the firm. Hamptons is also in discussion with London firm Charles Cameron with a view to another introducer arrangement.
Square Mile Wealth will be an appointed representative of the In Partnership network. Sesame and Burns-Anderson were also approached.
Robinson says: “Sesame appears to be more focused on multi-ties and Burns Anderson just did not have the X Factor.”
Hamptons managing director Kevin Duffy says: “The timing has been absolutely perfect. There is a sign of market resuscitation and, with the demographic shift being rep- orted, there is a need for high quality advice.”