View the article online at http://citywire.co.uk/wealth-manager/article/a744471
Vestra targets northern team hire and Dublin for expansion
by David Campbell on Apr 03, 2014 at 07:20
Vestra is looking to recruit a team of private client managers in the north of England or the Midlands and has longer-term plans to open an office in Dublin.
Head of business development Tony Allan said Vestra is aiming to find a team of managers in Manchester, Birmingham or Leeds.
‘Some of these places, such as Birmingham, could be described as over-broked,’ he said. ‘But we are looking to recruit locally, so you are tapping into legacy business.
‘There is a huge amount of demand coming from [regional] IFAs for people to manage their money locally.’
The company has already rapidly grown its distribution team, expanding from five to 10 business development specialists in September 2013.
While some of those are based in the north of England, investment management has remained in London, with an offshore team based in Jersey.
‘If you aren’t in these places, then you may as well not be at the party,’ he said, adding that he believed the weight of money in adviser outsourcing is still seeking a home.
‘Before the retail distribution review, it was all about getting a platform proposition right. Now it’s all about
how to increase the profitability of your business.’
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