AWD Chase de Vere is launching a bespoke wealth management service offering sophisticated financial planning techniques to high net worth clients, reports Professional Adviser .
Advanced Wealth Management (AWM) will be available to clients earning £150,000 gross or who have £600,000 chargeable assets, and to charities with £500,000 net to invest.
Markas Gilmartin, adviser director AWD Chase de Vere Wealth Management, said the service will be a "fusion between a private bank and a high-end IFA service, providing excellent service with novel investment structures and top-end strategic planning." He added: "We would consider the private banks to be our rivals."
The service will provide a bespoke, niche service for the high net worth client, or for those with complicated financial situations.
"This is a unique proposition in the market. As well as having the strength and financial capital of the largest financial intermediary firm in Europe supporting it, top-end service and personalisation will form the core of the AWM offering, including sophisticated financial planning, tax and referral services," said Gilmartin.
The AWM team will consist of two advisers with a higher than average ratio of four support staff per adviser, including paraplanners, administration and technical staff, all with considerable experience and adept at dealing with complicated financial planning situations. The minimum qualifications for the advisers will be chartered and certified status, with the intention to make fellow a minimum too.
The chartered and certified requirement, Gilmartin explained, provides the technical expertise that comes from the CII Chartered status with the practical and planning focus of the IFP's Certified Financial Planning qualification.
"Client portfolios will be based on an approach that looks forward, taking a view on what the world will look like. Asset allocation will be dynamic and secular. This will be about finding the under researched potential of the future, including areas such as timber and land," Gilmartin said.
Transparent volatility measurement, including standard deviation and other statistics will form the basis of the investment strategy.
"Clients will be able to see what they could make and what they could lose. It will enable us to fully manage client expectations," he added.
A further attraction of the AWM service will be access to top end tax planners, top real estate agents as well as, for example, experts on wine and art.
"AWM will become a portal through which clients can get access to the best financial planning, tax and investment advice," said Gilmartin.
AWM launches on November 6. Charges are 1% per annum rather than the norm of 0.5% but, Gilmartin points out, the additional 0.5% is only payable if the service meets the client's objectives.
To comment, contact Rob Kingsbury on 0207 484 9926 or email: [email protected]Professional Adviser
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