Signia’s wealth management head, Rupert Robinson, has set his sights on more than doubling the firm’s assets under management (AuM) in the next five years, with the takeover of family offices pitted as one way of achieving this goal.
Robinson, former head of Schroders UK private banking effort, said that Signia Wealth is currently in discussions with a couple of family offices, one of which is a "fairly long way down the line".
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"We are having constructive conversations with people and are hopeful something will materialise in the not-too-distant future," he added.
Signia Wealth, established three years ago by Nathalie Dauriac-Stoebe, has amassed just over GBP2 billion (US$3.14 billion) in assets under management, with a target of reaching GBP5 billion over the next five years.
Robinson said this would be achieved through organic and non-organic growth and explained single family offices provided good acquisition or merger opportunities.
"Perhaps having been established we have realised the costs base is quite prohibitive and the ability to retain good talent is hard.
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By GlobalData"We are talking to one or two at the same time about folding their business into ours and seeking to maximise our infrastructure, breadth and depth and also have areas of expertise we are missing here," Robinson added.
