The investment management firm is looking to tap into the traditional stockbroking market as it expands its Bath branch in the next six months.
Group head of sales and marketing Gary Rushby says: “We see the traditional private client stockbroking portfolio as a shrinking market and there is less of it. It does not hold the same appeal as investments held by the younger generations who favour collectives and diversification over equity-only exposure but there is still a market for it.”
The firm has £340m in assets under management in the capital markets and fund management division with a further £100m in funds under influence from its advisory services.
Rushby says: “We are looking to break through the £500m mark by the end of 2008 and hope to hit £1bn in the next three years.
“Discretionary management will drive the majority of this, largely through collectives, with pure equity invest- ments there to mop up the rest.”