Former Brewin Dolphin Brighton office head David Pegler (pictured) has joined forces with his former colleagues to launch a wealth management business.
Brewin directors Pegler, Ewen Emmerson and Francis Jarman have founded Brighton Capital Management, alongside former Barclays Wealth head of strategy and proposition Tim O’Connor.
Investment managers Pegler and Emmerson, and financial planner Jarman, all left Brewin after the firm merged Brighton into the Reigate branch last October.
The new boutique will offer investment management and financial planning services to private clients, families and institutions in Brighton and the south of England.
Raymond James will provide the regulatory and compliance functions, as well as the administration platform for the new business. Pegler highlighted Brighton as a natural choice to set up shop, describing it as a hub for entrepreneurial activity.
‘We have worked for some of the world’s most prestigious financial institutions, the likes of Cazenove, UBS, Barclays, Coutts to name but a few,’ he said. ‘We tried to bring all of our private client skills and business acumen to the table in our roles at Brewin Dolphin.
‘It is here where we learnt how to lead a high performance team and, as a result, were responsible for one of the fastest growing offices in the group. In April 2015, we made the brave decision to leave the corporate world behind and put all the years of experience to the ultimate test by founding Brighton Capital Management.’
Pegler views not being bound by the rigid corporate structures and administrative systems associated with large firms a positive. In his view, it gives the team greater freedom to take the most suitable approach to investment and financial planning for the client.
‘For these reasons it is unlikely we will target thousands of clients and our focus will be on building a number of select relationships and intermediary partnerships, primarily in Brighton and the south of England.’
The team will invest in direct equities, fixed income, investment trusts, funds, exchange traded products and structured notes.
For research, they will use Raymond James, Finametrica, Reuters, Morningstar and Ibbotson Associates. Pegler hopes this will allow them to retain the boutique feel but with ‘institutional muscle’.
All family related portfolios are going to be linked with a consolidated charging structure. For a limited time the firm will also offer ‘founder rates’. Pegler said the all-inclusive integrated proposition will be ‘competitively priced’ but declined to provide further detail at this stage.