London wealth manager The Route Group has completed a restructuring programme which will see it aiming at the top-earner market.Route has a team of four IFAs plus a mortgage, tax and property specialist and has introduced a tier of relationship managers. There is a support function of two research and development staff to assist its advisers in giving the best possible solutions to its clients. The firm, which is an appointed representative of 20Twenty, specialises in clients in London and the South-east earning more than 250,000. It says this is a different market segment from high-net-worth individuals as HNWs tend to have plans to protect their wealth while many high-earners do not. It aims to cover clients’ total financial needs, including wealth management, tax planning, wills, estate planning, mortgage broking and property services. Managing director Mark Worrall says IFA firms are wasting money by not looking closely enough at their client base and segmenting it so the advice process matches the needs of the client. He says: “I cannot believe how many IFA firms do not know their client base. It is an expensive way of operating. We looked at the previous client base and chose to service a particular type of client, who has no idea who to turn income into capital.”
Fidelity has given investors and advisers returning from their summer holidays a lot to think about by announcing it is to split Anthony Bolton’s giant special situations fund next year.
This week Robert Watts, economics correspondent at The Sunday Telegraph
Sesame is appointing Paul Rignall as its mortgage product manager, joining from St James’s Place where he was the mortgage marketing manager. Rignall replaces Andy Young who left for TBMC in April 2005. Rignall was responsible for the mortgage and general insurance proposition at SJP. Prior to this, he held several roles at Zurich.He will […]
Gartmore has appointed two new investment managers to its global quantitative strategies team.Gerald Campbell and Jeffrey Kerrigan will report to MIke Gleason, who has been promoted to the new role head of global quantitative strategies. Campbell and Gleason will both be London-based, joining the 15-strong team and will share responsibility for growing Gartmore’s global quantitative […]
By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]
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I always try to check my Twitter feed over breakfast. Recently, a tweet from IFA Philippa Gee caught my eye. She had taken her time to attend an investment conference and found she was the only woman there. Comments followed that this occurrence is far too common. According to Unbiased, just 13 per cent of […]
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Michael Klimes examines if advisers can resolve all drawdown issues themselves or if a wider effort is needed