Cheshire-based financial planning firm Clarion has split its business in two creating a wealth management and an investment management arm.
The firm relaunches as Clarion Wealth Planning and Clarion Investment Management in order to provide "greater clarity to clients, staff and business partners".
All independent financial advice previously provided by Clarion will be provided by Clarion Wealth Planning. Discretionary investment management services will now be supplied by Clarion Investment Management.
Ron Walker, (pictured) managing director of both new firms and founder of Clarion, said, "As a fee-based, highly qualified operation we see the changes just imposed upon our industry by the Financial Services Authority's Retail Distribution Review as a real opportunity to grow our business.
"In order to make the most of this opportunity we felt it was necessary to clarify for clients the precise basis upon which we provide them with independent financial advice.
"We decided the best way to do this was for all of our financial planning and intermediation services to be provided through one company with - where appropriate for a client's particular circumstances - discretionary investment management carried out by a separate, distinct corporate entity."
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