What was the rationale behind Canaccord Genuity Wealth Management UK & Europe’s decision to buy the Duncan Lawrie Isle of Man business?
The acquisition of Duncan Lawrie’s client portfolios serves to bolster our footprint in the Isle of Man and supports our strategy of growing assets under management across our wealth management operations.
The move was welcomed by Duncan Lawrie because of the similarities in investment process and a commitment to exceptional client service. We look forward to our new clients coming on board in due course.
What does it mean for the combined business going forward?
Having a bigger presence in the Isle of Man will help to bolster Canaccord Genuity Wealth Management’s growth of assets under management, which currently total more than £14bn in the UK and Europe.
How long has Canaccord Genuity Wealth Management been based on the island?
We celebrated our 20th anniversary in the Isle of Man last year. It’s incredible how far the team has come in nearly 21 years. Many of our employees have been with us since the beginning and that expertise is a huge benefit to our clients.
How long have you worked for Canaccord Genuity Wealth Management?
Thirteen years, and I am now responsible for Canaccord Genuity Wealth Management’s Isle of Man office. I am also a member of the Stock Selection Committee, with involvement in the European stock list; an associate of the CFA Society of the UK; and a member of the Chartered Institute for Securities
& Investment.
What does the IoM specifically offer as a jurisdiction from which to do business?
During recent years we have seen the island become home to new industries, such as aerospace, e-business, e-gaming, space and film. It is an exciting place to be and we are fortunate to be able to serve some of the people who continue to make the Isle of Man a place of innovation.
What is the relative importance of the key elements of your business, namely advisory and discretionary stockbroking, and the wealth management side?
In the Isle of Man, we offer a broad range of services including discretionary and advisory portfolio management and stockbroking. Our clients can access all types of different services, depending on their preferences and needs, which also might change over time.
Our approach is fully flexible and consultative, so the most important thing is that we support our clients by making the management of their wealth as straightforward as possible, rather than placing any degree of importance on one service over the other.
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