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October 6, 2021

Ex-Quilter directors to set up wealth management firm

By Verdict Staff

Former Quilter directors Dominic Rose and Nigel Speirs are planning to establish a wealth management firm with backing from Cabot Square Capital.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The duo have already purchased London-based boutique firm MKC Wealth and is in the process of finalising another takeover.

They plan to expand the business through a number of additional acquisitions. The acquired entities will be integrated into MKC Wealth.

Rose, who was previously strategy and acquisitions director at Quilter Private Client Advisers, will lead the new business as CEO while Speirs will become the executive chair.

Speirs was formerly a managing director at Quilter Private Client Advisers.

MKC Wealth owner Barry Cunningham will continue with the firm as director of client services.

All employees of the new firm will become its shareholder. Staff remuneration, including that of CEO, will be based on the feedback from the client.

Rose commented: “These businesses have two assets: clients and staff. We are going to be making acquisitions, but we will not be racing for scale like others in the sector to the detriment of these assets.

“We see ourselves as a smaller, client centric, alternative to the large traditional consolidators.”

Commenting on the latest deal, he added: “We picked MKC as the platform for growth because of its track record, unique culture and client focused approach.”

Cabot Square Capital investment director Freddie Athill said that MKC deal forms an ideal foundation for Dominic and Nigel’s growth strategy.

Athill said: “They bring a huge amount of experience from their previous senior positions at major consolidators, and this is the opportunity to apply that in today’s world with a high-quality starting platform and no legacy issues.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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