Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Brooks Macdonald forms alliance with Hampshire IFA

Brooks Macdonald forms alliance with Hampshire IFA

Brooks Macdonald Asset Management (BMAM) is to provide investment and custody services for Prosperity Independent Financial Advisers and Stockbrokers.

Under the tie-up, BMAM will offer Prosperity’s clients its bespoke and managed portfolio services, alongside providing a comprehensive nominee, dealing and custody service.

BMAM, led by cover stars Andrew Shepherd and Nick Holmes (pictured), will manage both of these services for Prosperity on a discretionary basis. Meanwhile responsibility for the suitability of the portfolios will be retained by Hampshire-based Prosperity. 

The portfolios will be managed by BMAM’s Fareham office, which is led by regional director John Wallace and manages 98% of its assets on behalf of intermediaries.

Wallace's Hampshire office won the Citywire Wealth Manager Regional Stars Awards 2013 for best regional wealth team in Hampshire.

Andrew Shepherd, BMAM's joint managing director said in a statement: 'The investment management services that we are providing are designed to cover Prosperity clients' wide range of investment objectives and risk profiles.

'They have a thorough financial advisory process that feeds into our solid investment process and provides clients with a first rate wealth management solution. We very much look forward to working with Mark and his advisers to meet the needs of their clients.'

Mark Newman, managing director at Prosperity, explained the alliance will enable his financial planning firm to develop a bespoke investment management proposition that will offer an 'enhanced investor and adviser experience' and a 'more robust compliance model' for the post-RDR world.

He added: 'We believe we are now able to offer our clients a seamless investment and advice proposition, which truly sets us apart from the competition.'

Brooks Macdonald had around £5.4 billion under management at the end of September.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter