Portal Financial is planning to launch a new wealth management brand for high-net-worth (HNW) clients in a move to expand its presence in the market.
Additionally, the firm also plans to expand its existing business to focus on main stream clients, FTAdviser reported.
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Currently, Portal Financial is targeting on mid-market clients nearing retirement through its Rochester office.
Under the new brand, the first branch will be opened in Rochester High Street at the end of 2014, with the partners expecting to open offices across the country.
Jamie Smith-Thompson, managing director of Portal, was quoted by the publication, saying: "We think a certain level of people, when they get to a certain level, for instance £250,000, are going to want more face-to-face interaction and more complicated service, like tax planning for business owners."
Smith-Thompson added the new brand will serve mass-market clients.
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