Two private client financial planning firms, based in Bath and Bristol, have joined forces to create a business that will make an even bigger difference to vulnerable clients.
Between them, the two firms are currently responsible for overseeing the investment of approximately £150 million of funds on behalf of clients, stretching from Truro to Newcastle.
Centurion Wealth Management of Bath has joined forces with Bristol’s Wealthcare South West Ltd., with the latter business rebranding as Centurion Wealth Care Ltd., in a move that will pool resources and expertise and enable both companies to better serve their vulnerable clients, including later life, special needs, personal injury claimants, people whose affairs are supervised by the Court of Protection, trustees and people experiencing relationship breakdown.
Centurion Wealth Management’s Stuart Doughty and Wealthcare South West’s Dave Robinson first met three years ago, and both shared a desire to create a national kitemark for advisers that would help personal injury claimants and their legal advisers determine what ‘good’ looks like in terms of financial planning, and which was not product led.
Stuart Doughty explained: “We both recognise that private clients want transparent financial planning and an investment proposition focused on preservation of their wealth rather than aggressive growth.
“We realised that we shared similar personal values, ethics and beliefs on how all clients should be treated. It was both natural and inevitable that we pool our industry experience in the vulnerable client sectors.”
Dave Robinson added: “Our regulator, The Financial Conduct Authority, has identified several vulnerable client groups that have wealth but which are experiencing trauma, and very often they have little or no prior experience of managing money.
“The FCA believes, and we agree, that people in this position are particularly at risk of inadequate advice and poor practice. So, we are bringing our collective knowledge, experience and ethics together to form what we believe is the first specialist financial planning firm of its type in the UK.
“We have received a very positive response from clients and introducers, and our team is looking forward to developing the business from what is already a very strong base.”
Centurion Wealth Management operates from offices near Bath, and most of its clients reach east down the M4 corridor to London and East Anglia.
Centurion Wealth Care is located near Bristol and covers a client base throughout the whole of the South West peninsula, the West Midlands and South Wales.
Centurion Wealth Care has just applied for Chartered Financial Planning firm status and it is expected Centurion Wealth Management will follow suit.
