Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Ex-Rowan Dartington team seeks independent regulatory approval

Ex-Rowan Dartington team seeks independent regulatory approval

Alpha Portfolio Management, the third party discretionary service launched by Andrew Morris (pictured) and the team behind Rowan Dartington Signature, could soon seek its own regulatory permissions.

The company is currently run under the regulatory permissions of Bristol business RC Brown, although both parties are keen to emphasise the operational independence of the two.

‘They have a very well established proposition and a completely different “tone” to what we do,’ said Morris. ‘It’s a very institutionalised service, with a small number of high-value clients, which typically invests in collective vehicles with an emphasis on asset allocation.

‘There has been a notable change in the past three years of IFAs looking for asset allocation services and we have taken that on board in what we do, but much of what we are known for is stock picking.

‘We have the framework to provide [an asset allocation] but not many people outside of Rowan Dartington are able to offer to manage capital gains tax liabilities relating to individual stocks, for instance.’

He emphasised that the ‘six figure cost’ of obtaining a separate FSC authorisation is a ‘headache’ that he was not intending to take on for at least the next 12 months, however.  

Morris was speaking following the formal launch of Alpha Portfolio, offering a model-based service for client assets of £20,000 and above and a fully bespoke version for assets of £100,000 upwards.

While he stressed the company would have its hands full integrating the current team, he added it would be open to further recruitment in the second half of the year.

‘We have had a lot of calls saying let me know if it works out and others saying let me know if it doesn’t work out, but either way it’s nice to know people value what we do.’  

Morris, a co-founder of Rowan Dartington, left the company last year alongside senior fund manager Joe Dyer and administrators Helen Parry and Claire Hudd.  

They will be joined by former colleagues Mark Sevier, head of equity research at Rowan Dartington, and portfolio manager James Gardner, once they have served out their notice periods in February.   

Sevier will join as head of research while Gardner will become head of collectives. Dyer will be lead manager, with Morris as lead employee and head of business development.

Morris said many of the early client signings were people long aware of the team’s strength as stockpickers, meaning the company is currently running an 80/20 split toward direct equity.

‘As that settles down I would expect that even out a lot more to something like 50/50,’ he added.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter