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Pittaccio to set up IN wealth management

IN Partnership is to launch a wealth management arm in September headed by ex-Thinc investment director Mark Pittaccio.

Group chief executive Kevin McDonagh says: “This will entail creating a recurring income model with a robust compliance process which will de-risk the business. Mark will work closely with compliance director Gordon McNeil to deliver core investment solutions for IFAs.”

Pittaccio says he believes the responsibility of financial planners is not to maximise or guarantee future returns but to “use experience and knowledge to maximise the probability of achieving client goals”.

IN Partnership recently appointed former FSA managing director of retail markets Clive Briault as a non-executive director.

The company was formed in 2000 and offers compliance, technical and wealth management support to more than 460 financial advisers.

It made a pre-tax profit of £303,794 for the year ended December 31, 2008, compared to a profit of £369,591 for the 18 months to the end of 2007. At the end of 2008 IN Partnership had cash reserves of £3.6m.

Harris & Associates Financial Consultants Limited has rec- ently joined IN Partnership.

Managing director Dean Harris says: “The wealth manage- ment proposition will offer improved investment solutions to my clients.”

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