British stockbroker Arden Partners has launched a new wealth management subsidiary after securing the nod of the Financial Conduct Authority (FCA).
Dubbed Arden Wealth Management, the new wealth unit will offer discretionary portfolio management services to private individuals.
Commenting on the new development, Arden executive director James Reed-Daunter said: “This will present a great opportunity for wealth managers who wish to work in a smaller company environment to develop their careers and look after their clients in a truly bespoke manner.”
The new unit’s offerings include financial planning with access to ISAs and IHT portfolios as well as advice on pensions such as SIPPs and protection.
Arden CEO Donald Brown said: “I am delighted that we have secured authorisation from the FCA to launch Arden Wealth.
“We see wealth management as an exciting growth opportunity for Arden and look forward to actively developing this new division.”
The new business will be led by Henry Algeo, who formerly worked at UK-based wealth manager Brewin Dolphin.
At Brewin Dolphin, Algeo held the role of group managing director and COO for two years.
He also worked as the chairman of trustees for the Heart Trust Fund and CEO of wealth technology firm TheWhiteboard.