Gerrard's Private Client Management division is to jettison 2,000 clients, each with less than £30,0...
Gerrard's Private Client Management division is to jettison 2,000 clients, each with less than £30,000 invested in its discretionary service. The group has given clients one month's notice to exit its discretionary portfolio management arm, with the deadline set at 13 February. The clients involved comprise a mix of direct and intermediary-introduced business with funds totalling around £20m. Gerrard contacted intermediaries in December about the move but direct clients were told in mid-January. Brian Tora, chairman of Gerrard's investment committee, said both client types have been of...
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