Hong Kong-based financial planning and wealth management firm BMP Wealth has received a ‘significant’ investment from UK investment group Marlborough to fund future strategic acquisitions.
In a statement on 28 May, BMP Wealth said it is “looking to grow its operations in Hong Kong and to expand into Singapore and China’s Greater Bay Area”.
The company will use the investment to acquire adviser firms whose owners are looking to retire or leave the industry in the next few years. It is also interested in acquiring the client books of individual advisers who are planning to exit the industry.
Marlborough is one of the UK’s leading independently owned investment managers and also provides fund governance services and an investment platform for advisers and their clients. The group manages assets in excess of £17bn.
In addition to working in partnership with a growing number of advice firms in the UK, Marlborough has ambitious plans for growth in the international market. The investment in BMP Wealth is Marlborough’s first in Asia.
Howard Clark-Burton (pictured), CEO and Founding Director of BMP Wealth, said: “We have a clear growth strategy and we’ve already completed two acquisitions in Hong Kong. Marlborough’s investment will enable us to accelerate our plans through further acquisitions, in addition to the continuing organic growth of the business.
“We’ll be further building our operations in Hong Kong, while also expanding into Singapore, which has a well-established expat community, and China’s Greater Bay Area, where we see exciting growth potential. We believe these two areas offer very attractive additional long-term opportunities for us.”
Richard Goodall, CEO of Marlborough, said: “BMP Wealth have an exceptional team and our two businesses have a great deal in common. Like us, they have an entrepreneurial culture, a ‘can-do’ philosophy and a strong commitment to making a difference for clients by delivering first-class outcomes.
“They now have plans to expand outside Hong Kong and we have every confidence that they’ll go from strength to strength. Our investment highlights the partnership approach we take to working with adviser firms. We’re not looking to change anything. We believe BMP Wealth have excellent prospects and we’re keen to share in the success of what we believe to be an outstanding business.
“We’re working with an increasing number of adviser firms in the UK and internationally and we’re always looking for opportunities to partner with high-quality businesses like BMP Wealth.”
BMP Wealth was founded in 2017 by industry veterans Howard Clark-Burton , chief executive officer, and Ian Marsh, chief investment officer and began operations in 2018.
The Hong Kong-based firm has six senior wealth managers who provide financial planning and wealth management services to the expat community and internationally minded individuals.
BMP Wealth holds licences from Hong Kong’s Insurance Authority, Securities and Futures Commission and Mandatory Provident Scheme Authority.
