Rathbones has pledged to expand its financial advisory capabilities in its half year results.
The UK-based investment management business said that, this year, it has added seven independent financial advisers to its network, Vision Independent Financial Planning, which now counts 131 IFAs.
It also plans to recruit an average of 10 professionals per year.
Rathbones also now has two additional members of staff in its in-house capability, Rathbones Financial Planning (RFP).
Growth plan
“The benefit of financial advice to clients is even more important during times of market turbulence and dislocation, with both the demand and the need for advice increasing,” the firm said. “Our strategy continues to place considerable importance on the financial advice market which we access in several ways.
“The combination of Vision and RFP represents a strong proposition for clients, providing them with access to 152 financial planners advising over £3.1bn ($4bn, €3.4bn) of client funds. Advisers have access to our single strategy funds, multi-asset funds and DFM service range.
“Vision focuses on the mass affluent and high net worth (HNW) segment of the market and at 30 June 2020 had assets totalling £1.9bn on its discretionary fund management panel – 30 June 2019: £1.8bn – and 131 independent financial advisers – 30 June 2019: 124. Vision continues to attract quality advisers and seeks to recruit an average of 10 additional IFAs per year.
“RFP continues to focus on supporting existing relationships between investment managers and their clients and forging new client relationships via external professional partners. There are currently 21 advisers – 30 June 2019: 19 – and we continue to invest in this area,” Rathbones added
