View the article online at http://citywire.co.uk/wealth-manager/article/a721851
Rowan Dartington to double investment team in regional push
by Dylan Lobo on Dec 02, 2013 at 08:59
Rowan Dartington aims to double the number of investment managers it employs to 12 and is looking to launch an ‘At Retirement’ pensions planning service next year.
Talking of the retirement service, chief executive Graham Coxell (pictured) told Wealth Manager: ‘We have developed a really smart approach to blending investment management and annuities. We are positive on this product and we are talking to potential partners.’
Speaking after Wealth Manager last month revealed that company co-founders Andrew Morris and Mark Sevier had left to join Bristol rival RC Brown, taking a number of employees with them, Coxell said the departures would not have a significant impact on the firm’s growth strategy.
In addition to increasing staff numbers and diversifying services, the company is also planning to re-establish its network of regional offices.
Rowan Dartington intends to use a restructure of the business in September as a platform to enhance its proposition. Its evolution will be based on three major goals: the strengthening of teams, improving products and innovation.
‘When I took control of this business two and a half years ago it was losing more than £1 million a year,’ Coxell said. ‘Profit has since risen by 200% last year and is on course to be 300% this year, while assets under management are rapidly approaching the £1 billion mark.
‘Our balance sheet is strong and in our view we can invest in more regional branches. We want Rowan Dartington to be a multi-channel proposition. The departures have no impact on the business and we continue to go from strength to strength,’ he said.
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