The Route currently has six advisers and five relationship managers within a team of 31 people. The Company’s new proposition will offer members property, income and future financial solutions for a £2,400 annual retainer.
Members are given two financial reviews per year with annual performance analyses that are benchmarked against their life goals. They are then offered investment recommendations based on their individual ‘wealth map’ and given the opportunity to meet with a technical adviser for specific investment advice on an ad-hoc fee basis.
Route Wealth Management is an appointed representative of Route Mortgages Limited which is authorised and regulated by the Financial Services Authority but some of The Route – future products and advice remain unregulated by the FSA.
The Route City wealth club technical adviser Jonathan Brownlow says: “Some of our more esoteric products such as the film and wine funds are deemed not to be regulated but that’s not to say they won’t be in the future. They were borne out of the appetite from our clients for more interesting investment opportunities.”
The Route City wealth club managing director Mark Worrall adds: “We have done a lot of research into what young, ambitious City high flyers wanted from their wealth manager and decided that we needed to move away from a ‘traditional’ service and more towards a club. Where the high street banks cater for the ‘have-nots’ and the private banks for the ‘haves’, we cater for the ‘will- haves’, and reflect their ambition for growth with ours.”