Caerus Wealth Management, former Openwork CEO Keith Carby's new advice and fund management venture, has received the investment backing of Dutch industrialist and financier, Hubert-Lance Huet.
Huet, a senior member of the Huet and van den Bergh dynasties that have helped create Shell and Unilever, has taken a 15% stake in Caerus' fund management subsidiary.
He will also join the board of the Caerus holding company.
Caerus, which in Greek mythology was the god of opportunity, luck and favorable moments, says it has signed up more than 200 advisers across 21 firms, and is planning "major innovations" in the fund management industry.
Huet reportedly has interests in the Swiss and Far East financial services sectors, North Sea oil and gas, and real estate in India and Malaysia.
He says: "The Caerus business model provides a strong investment opportunity, given the pace of change in the UK advice and investment landscape.
"Keith and his team are first rate and have a proven track record of building successful financial services businesses. I was particularly struck by their fierce ambition to change things for the benefit of consumers and advisers."
Carby says Huet's involvement gives his a world-class resource to help his company realise its business plans.
He left Openwork in July 2009 following reports of tension at senior management level with regard to the future ownership and direction of the business.
Carby is also currently a non-executive director of Metro Bank.
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Four key areas to focus on
And 94% for critical illness