Close Investments, the property, tax and investments specialist, is set to launch its rebrand in the next couple of months, including a new colour scheme and new website.
Stuart Alexander, deputy managing director, says the relaunch is part of identifying a “community” of formally disparate businesses, whose common culture in future will be defined around words such as “specialisation, passion, innovation and entrepreneurial.”
As part of the listed Close Brothers group, the investments arm is not intent on cross-selling to what will be distinguished as a separate wealth management business.
Problems foreseen with this could include being put in a situation of being more than 30% owner of one of its own investment trusts, which would lead to all sorts of challenges, Alexander says.
Close Investments’ branding exercise will not be looking to replicate similar levels of total advertising spend as some rivals in asset management, but in the near term will be looking to focus awareness raising activities on certain groups, including IFAs. A road show has been ongoing to do just this Alexander says, and this will be complemented by the planned online developments.
While rejecting any “niche” tag as part of the emerging business culture, Alexander says there seem to be considerable legs in more specialist areas such as linking property with tax planning and IHT issues.
Helen Robbins, head of marketing investment trusts, says her area is experiencing some interesting changes too, particularly in the emerging use of treasury shares, and the growing use of arbitrage.
Robbins believes an ongoing IFA business model shift towards more fee-based activities will benefit sales of investment trusts generally, but also admits there remains a potentially growing education need over the effects of treasury shares and arbitrage on a product type where inter-day and intra-day pricing changes need to be kept far more on the investor’s radar than some other types of collective investments.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].IFAonline
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