SCM Private sets up advice arm

Former New Star chief investment officer Alan Miller has set up an advisory offshoot of wealth management business SCM Private.

SCM Financial Planning will follow the low-cost, index fund-based approach to investing used by the wealth management business. It will be headed by chartered financial planner Susan Hill, with investment management advice provided by Miller as chief investment officer.

SCM Financial Planning sales and marketing director Gina Miller says: “We believe this is the right time to set up a new model financial advisory service. Our approach is simple. We want to extend choice, guide clients through the thicket of financial and investment products and legislative changes to provide them with exceptional advice that empowers them to achieve their financial goals and ambitions.”

Chelsea Financial Services managing director Darius McDermott says: “It makes sense to launch this offshoot, given that SCM Private is positioned as an RDR-ready offering.”