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fairbairns dfm service sees strong new business

17 Apr 12

Fairbairn Private Bank had its strongest opening quarter for new business since the start of the financial crisis it announced today, thanks largely to several new multi-million pound client mandates and widened access to its DFM services.

Fairbairn Private Bank had its strongest opening quarter for new business since the start of the financial crisis it announced today, thanks largely to several new multi-million pound client mandates and widened access to its DFM services.

In Q1 the firm made its segregated strategies available to investors with an initial investment as low as £7,500 through a Ucits IV compliant, Dublin-domiciled Oeic.

"New business levels are certainly growing at a pace. While one must always be careful about reading too much into short-term indicators, it is reassuring to see such vibrant business levels continuing following the very strong growth in our headline earnings in 2011," said the company’s managing director Greg Horton.

Total assets held on its integrated banking and investment platform, Focus have grown by 17% year-on-year to the end of March and are now approaching £1.75bn.

Horton added that over 87% of new accounts opened so far this year have resulted from client referrals.

He said: "Being represented in five different geographic locations certainly presents its challenges in demanding times, but equally it provides a robust and safe platform for our clients and offers the business greater diversification for earnings.

"For example, in 2010 our UK operation posted the strongest total business growth rates, whereas in 2011 Jersey and the Isle of Man took their place at the head of the field."

So far this year, the South African business has taken the lead, although the UK and Channel Islands have contributed strong growth too.

"With our latest office in the Middle East having just opened in Dubai, we are looking forward to its growing contribution as the year unfolds. This, together with the recent launch of our exciting range of wealth management solutions will see us even more strongly positioned for growth as we enter 2013," Horton concluded.

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.