A former Morgan Stanley adviser has opened a new wealth management business, exclusively targeting high-net-worth (HNW) women.
The new firm, dubbed Lily Advisory, will be created out of Centaurus Wealth Management, ftadviser.com reported.
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Centaurus was established in 2014 using regulatory approvals from Essex-based Basi and Basi Financial Planning. The business was backed by Michael Basi’s firm as an appointed representative.
The firm offered a tailored, cross-specialisation service, focusing on individuals having minimum investable assets ranging from £5m to £10m, fees ranging from 0.30 basis points to 3%.
The new business for women will follow a similar model, and will be able to access various banks, asset managers, hedge funds, insurance companies, property consultants, as well as tax advisers, in accordance with personal needs of clients.
The firm will have Indre Butkeviciute as founder and managing director.
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By GlobalDataButkeviciute said: "It is not just a wealth planning firm, but also a club for like-minded women looking to embrace their financial independence, learn about investing and most of all enjoy while doing that; a place where investing is made interesting, simple and no question is wrong question."
