The top 25 wealth boutique launches of 2017
A lot of people in investment management have been warning that increased regulation will result in the disappearence of smaller players.
However, this year, there have been a number of wealth managers proving that this is not the case.
While consolidation has been a constant feature in 2017, there have also been a significant number of people setting up their own ventures, with some big names such as John Ventre and Paul Marriage also taking the plunge.
Here are 25 of the boutiques launched this year.
Caldecott spins out Dalton wealth business
Rupert Caldecott and his colleague Neill Blanks bought out the wealth management half of Dalton Strategic Partnership to form a new firm, RM Caldecott & Partners.
The company will retain Dalton’s wealth clients and assets which Caldecott and Blanks have accrued in their 10 years at Dalton, while Dalton takes a 19.9% stake.
Former cover star launches Glasgow boutique
Alec Stewart, who was previously chief executive officer of Anderson Strathern Asset Management, joined the ranks of directors launching their own boutique.
Stewart set up Stewart Asset Management, based in Glasgow.
Charles Stanley holdouts launch firm
A number of Charles Stanley holdouts, who left the firm after failing to come to an agreement on remuneration, have set up their own company.
The boutique, based in London called GPIM, was established by Gino Palmeri, with Gareth Norton and Ian Jones appointed as investment managers.
SJP man quits to set up advice firm
A compliance officer from St James’s Place (SJP) has left to set up his own advice firm.
Bristol-based Alex Alton, who had been at SJP since August 2014 and has eight years’ experience in the financial services industry, registered a company called Alton Wealth Management on 25th July, according to Companies House filings.
Former WisdomTree duo to launch ETF platform
Former WisdomTree Europe co-chief executives Hector McNeil
(pictured) and Nik Bienkowski have launched an exchange traded fund (ETF) platform this winter.
The platform helps companies that lack the scale or expertise to launch and develop ETFs in Europe.
Former Brewin director launches Home Counties boutique
Ex-Brewin Dolphin assistant director Helena Bakunowicz has launched a co-branded Raymond James branch.
The Investment Boutique services high net worth clients in the Home Counties with investable assets of +£1.5 million. Bakunowicz will be supported by an administrative team and an investment committee.
Ex-Aberforth partner sets up funds boutique
A former manager of the Dunedin Smaller Companies investment trust, who later joined Aberforth Partners, is back with a new Edinburgh-based boutique.
Andrew Bamford and colleague Barney Randle have received authorisation from the Financial Conduct Authority to set up Teviot Partners.
Ex-Coutts directors join forces at fledgling wealth boutique
Liverpool-based Modus Wealth Management, set up by former Coutts executive director Jonathan Price, rebranded and recruited two new directors: Neil Ferguson and Andrew Booth, both chartered wealth managers from Coutts.
Six months since launching the company, Price said client numbers and assets under management had so far ‘exceeded expectations’.
Peter Hargreaves puts £25m into new boutique
Hargreaves Lansdown (HL) founder Peter Hargreaves
(pictured) has backed a new fund firm which has been set up by Stephen Yiu, who made his name as Tim Steer’s co-manager at both Artemis and New Star.
The company is called Blue Whale Capital, in which Hargreaves invested £25 million.
Ex-Brewin office head partners with SJP for new firm
Brewin Dolphin’s former Plymouth office head Brian James set up his own firm, Brian James Wealth Management.
The new Devon-based business was set up as a partner practice of St James’s Place Wealth Management. It offers advice on wealth management, retirement planning, wealth protection, savings and investments.
Schroders' Marriage and Warren leave to launch boutique
Schroders' Paul Marriage and John Warren have left the firm to start up their own business Tellworth Investments, while taking the £380 millon UK Dynamic Absolute Return strategies with them.
Tellworth is the first asset manager backed by multi-boutique investment firm BennBridge, the UK subsidiary of Australian venture capital investor Bennelong Funds.
Ex-Coutts man sets up London boutique
Julian Soper, the former head of a Monaco-based wealth boutique which closed after a brief stint in London, resurfaced with a new venture.
Soper, alongside Savio Figueredo, set up CubicStone Capital Management after private bank Compagnie Monegasque de Banque (CMB) decided to close its fledgling UK wealth management operation.
Ex-Towry partner unveils new wealth boutique
Former Towry executive partner Matthew Pitcher launched his own firm.
Pitcher left Towry in October last year, following the company's acqusition by Tilney. He has now set up Altor Wealth Management based in Hampshire.
Ex-Towry five launch wealth firm
Five former Towry senior executives have set up their own firm, called Lockhart Capital Management, following their resignation from the wealth manager after its acquisition by Tilney.
(pictured), Chris Cole, Bryan Innes, Toby Alcock and Jon Bowes have partnered for the new venture, which has since made a number of hires.
Ex-Rathbones man sets up new company
James Maltin, a long time investment manager at Rathbones left the company to set up Ridgeway Investment Management.
Maltin left Rathbones after an 11-year spell where he managed private client portfolios.
Prior to that he worked at HSBC Investment Bank heading up the investment trust committee.
Stanhope Capital co-founder sells stake to launch new firm
Stanhope Capital co-founder Julien Sevaux sold his 27.5% stake in the family office to CEO Daniel Pinto
(pictured) for an undisclosed sum and launched a new firm.
Sevaux said the new firm, which has yet to be named, will be ‘complimentary’ to Stanhope.
Ex-Barclays man established London business
Clermont Asset Management has been set up by Barıs Bayazıt, previously a director at Barclays Investment Bank and Eytan Behmoaras, a research consultant.
Prior to setting up Clermont, Bayazıt worked at Barclays for nine years, most recently as a director and head of US power trading.
Behmoaras also worked for Geneva-based multifamily office Wedge Associates and also had spells at JP Morgan and Credit Suisse Private Banking.
Ex-BlackRock portfolio manager launches alternatives firm
Ex-BlackRock portfolio manager Andy Sullivan has launched an alternative investment company, which is initially offering four funds to UK investors.
GL Asset Management UK is targeted at professional investors, including family offices, fund of funds and high net worth individuals. The firm is a commercial partner of Switzerland-based GL Asset Management AG.
Raymond James opens new London office
Andy Butcher (pictured) and Ed Froggatt, former colleagues at NLP Financial Management, launched a new branch under the Raymond James umbrella, which is based in Hampstead. The duo offer a range of financial planning services, as well as a discretionary investment proposition.
Ex-UBS man launches crypto-based boutique
Andrew Horbury, formerly of UBS, launched a business to make it easier to access and manage cryptocurrencies for private clients looking to diversify their portfolios.
Horbury launched Blackfort Digital Currency Management, based in Jersey, which provides a ‘relationship managed service for buying, selling and holding cryptocurrencies’.
Ian Armitage and Stuart Widdowson reunite to launch fund firm
Harwood Capital partnered with private equity bellwethers Ian Armitage and Stuart Widdowson for a new investment business.
The business sees Armitage reunited with Widdowson, who was one of his first hires when set up HgCapital back in 2000.
Harwood Capital was set up by JO Hambro Capital founder Chris Mills in 2003.
South African wealth firm gains UK authorisation
South African wealth firm Renaissance Wealth Management gained authorisation in the UK.
The firm, which was founded in 2000 by Bruce Kirsch and Jonathan Ralph, became an appointed representative of fund boutique Thornbridge Investment Management to offer its services in the UK.
Ex-Man Group fund manager launches ESG boutique
Former Man Group fund manager Dr. Richard Bateson set up a boutique asset management firm focusing on sustainable investments.
Previously a strategy boss on Man’s flagship AHL fund, he established Bateson Asset Management, which applies machine learning and artificial intelligence to identify companies to invest in based on their environmental, social and governance characteristics.
OMGI duo launches multi-asset boutique
(pictured) and François Zagamé have partnered with SCDavies & Co to form a new multi-asset model portfolio boutique.
The duo have resurfaced two years after they left OMGI’s multi-asset team following a restructure.
The new boutique is called Kallcap Solutions and will offer model portfolios to advisers. In addition, Zagamé will become co-portfolio manager on SCD's three funds alongside CEO Paul Denley and associate director Richard Morrison.
US boutique gets green light from FCA
A Seattle-based boutique fund management firm received the green light from the Financial Conduct Authority to further grow its business in the UK.
Smead Capital Management was founded by Bill Smead in 2007 and is led by managing director Cole Smead (pictured). It has $2.2 billion (£1.7 billion) in assets under management.