View more on these topics

Moneygate acquires DFM service

Woods-Mark-Moneygate-2013
Mark Woods

IFA network Moneygate has acquired the discretionary fund management arm of adviser firm Watermark Wealth Management.

The DFM will be rebranded as Marketstar and will give Moneygate advisers access to a range of model portfolios.

The deal sees current Watermark chief executive Mark Woods take up the role of Moneygate strategic investment officer, heading up the Marketstar proposition. He will also sit on the DFM’s investment committee.

Moneygate is set to roll the DFM proposition out later this year.

The IFA arm of Watermark will join the Moneygate network. Watermark has five advisers and around £50m assets under management.

Moneygate Group chief executive Lee Hartley says: “Mark has a four year track record of delivering excellent returns to his investment clients and we are delighted to have him on the team.

“He shares our investment philosophy and has a passion for delivering safe and consistent returns for clients across the UK. Adding a wealth of experience to the team it gives us a platform to offer our clients further added value services.”

Woods says: “I am looking forward to bringing the extensive experience of the team to the table at what is a very exciting time for Moneygate Group as it looks to continue its rapid expansion.There are a great many changes affecting the industry this year and the move to Marketstar and Moneygate gives a much wider platform through which to operate.”

Pilot Financial Planning director Ian Thomas says: “I think it is a natural progression for larger advisory businesses to look to have this kind of fund management capability and I am sure there will be more coming out of the woodwork.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com