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Wealth Manager: Signia's Birmingham head on breaking the UK's second city
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by James Phillipps on Apr 05, 2012 at 00:01
The early success has certainly made King’s job easier, he admits. The firm’s signing a number of key clients gives confidence to other prospective customers.
At the core of Signia’s offering is an absolute return approach to running client money.
The impressive level of assets under management accrued since launch provides it with the clout to obtain favourable access to leading financial institutions and negotiate lower fees.
The firm takes a slightly different approach to many of its peers. Its clients’ assets are held on custody at a range of major banks, with Signia providing the asset allocation and ongoing fund management.
Alongside this, the firm is also building up its wealth structuring team, which enables it to offer advice on international tax planning and trusts, an important service for its international clients.
Dauriac-Stoebe has built up a 15-strong investment team with specialists in all of the major asset classes as well as alternatives, such as private equity and hedge funds. The recruits have pedigree at some of the best-known and most respected City grandees, such as Goldman Sachs, JP Morgan, UBS and Société Générale.
‘We are independent and do not have our own products so there are no economic benefits to us to for recommending one bank, institution or product to a client and no pressure from above to do so,’ King says.
‘What really swung it for me, though, was the people here. They are young, vibrant, highly qualified and, more importantly, they are very passionate about what they are doing.
‘They’ve worked at big companies and banks and, like me, they have chosen to walk away from the comfort blanket of working there.’