AHR Private Wealth has launched a division aimed at providing independent advice to high and ultra-high net worth individuals across the UK.
The financial advisory business was formed in June 2020 through the merger of UAE-headquartered Arlo Wealth and Harrison Rowe.
Ramped up recruitment
Located in Surrey, AHR Private Clients will be run by managing director Steve Ayers, who previously headed up Lloyds Private Banking in Mayfair.
AHR said it has set its sights on the UK, with a view to securing around £500m ($694m, €577m) within its first year of operation.
The firm is looking to recruit 20 advisers over the next 12 months.
It aims to reach 50 advisers and £2bn in assets under management within the first 36 months.
‘Disrupt the sector’
Ayers commented: “Our vision and ambition is clear, we have a determination to enhance the UK advice market and have established AHR Private Clients with an offering more modern in nature and built around the client rather than the corporation.
“We want to disrupt the sector and provide clients with a superior, more stable experience.”
Tyla Phillips, executive director, AHR Group, added: “The launch of AHR Private Clients is the next milestone in AHR’s journey. The business will provide us with a valuable additional foothold in the UK – a market which presents significant potential and growth opportunities.”
An earlier reference in this article to an M&A deal agreed with London-based AXG Wealth has been amended after International Adviser was informed by a representative for AHR Group that the deal did not go ahead.
