Truinvest has entered into a joint venture agreement with 1.618 Advisory Services to provide financial planning and investment advice to its existing clients.
1.618 Advisory Services is a provider of life insurance, business insurance and healthcare products in the UK. The firm is also an ‘exclusive associate’ of Vitality Life and Health.
Further details of the joint venture were not disclosed.
Mark Smith, chief executive of Truinvest, said: “We are absolutely delighted to have partnered with 1.618 Advisory Services and to be trusted to provide advice to their clients in relation to their wider investment and financial planning needs.
“At Truinvest, we pride ourselves on the highest quality of advice and can help guide 1.618’s clients through the maze of investment options available including Isas, pensions and personal investments.”
Tyrone Hodgson, chief executive of 1.618 Advisory Services, added: “Truinvest offers a unique proposition for the UK market, bridging the technology gap for advisers and clients. Ensuring that clients receive the most valuable part of the relationship, ‘the advice’, while also possessing the means to make sure they are on track to achieve it ensures our clients will receive the same highly personalised service that they have come to expect and demand.”
Growth plans
Truinvest was formed in 2019 by co-founders Mark Smith and Micky Johal and has already completed four acquisitions.
In March 2021, the firm acquired NLP Financial Management and Birchwood Investment Management as part of a five-year growth strategy targeting annual revenues of £50m ($68.3m, €58.2m).
The advice company identifies itself as a “market disrupter” and has the backing of family office Stonewood Wealth Management, which has injected an undisclosed sum of funding.
