In 2004 a number of like-minded IFAs
recognised the opportunity that an IFA wrap service could offer
and decided to join forces to launch an IFA owned wrap service
truly independent from the traditional product providers. Their
vision is a wrap company that replaces the existing model of
being dependant upon the insurance product manufacturers and
establish an independent platform that would meet the needs of
IFAs. The new service will also create an opportunity for the
value associated with holding client assets to move from the
product manufacturers to the IFA distributors. It is the IFA
who, after all, owns the client relationships. Hence the
Ascentric asset consolidation service was conceived.
To establish the Ascentric service, the
founding IFAs have committed to using the platform and together
with the management team have invested the initial capital to
buy Fundsdirect and establish the new wrap business. The
Founding IFA firms are:
Money Wise Independent Financial Advisers Limited (www.money-wise.co.uk)
Established in 1997 Money Wise has grown to become a successful IFA firm in a
relatively short time, originating in Bath and now with a second office in Bournemouth the
company has 8 Registered Individuals and looks after approximately £ 100M of client funds.
The Company's financial advisers focus on professional, business and private clients and
through a high degree of specialisation are well equipped to offer a broad range of advice
on investments, financial services, products and tax planning methods. As the firm's
reputation grows an increasing proportion of its business come from professional introducers. Money Wise is also proud to be the "Official IFA" and a sponsor of Bath Rugby, one of the Guinness Premiership's leading rugby clubs. The business has invested heavily in to the use of technology in the firm belief that integration of front and back office systems increases efficiency and that Wrap is the obvious way ahead for a forward thinking practice.
Kings Court Financial Planning LLP (www.kcfp.co.uk)
King's Court Financial Planning is a firm of
fee-based Financial Planners and Asset Managers. Since inception
in 1986 (as Wiltshire Financial Services Ltd) the firm
has been dedicated to providing a highly personalised financial
planning service. The planning team is made up of Financial
Planners, Asset Managers, Para-Planners and Administrators.
King's Court Financial Planning has offices in Trowbridge and
Bristol and satellite facilities in London, serving their UK
clients throughout the Midlands and South of England. As part of
the Wiltshire Financial Management Group, King's Court Financial
Planning has become a 'model' financial planning practice,
utilising its significant investment in technology to the full;
with e-business capability and benefiting from streamlined
business processes King's Court Financial Planning is already
reaping the reward of Wrap account solutions, thus ensuring that
the service remains client-focused and highly personalised.
Grosvenor Consultancy Limited (www.grosvenorconsultancy.co.uk)
Grosvenor Consultancy was incorporated in
February 1998 and was initially an appointed representative of
Standard Life. Having started with 10 Registered Individuals at
the outset the number of RI's has grown to 15. One of the
Company's strengths has been the ability to retain its advisers.
Grosvenor are one of eight hundred firms who buy services from
Bankhall Investment Associates and were voted the top member
firm in 2003. Grosvenor now has 3 offices in the West Country;
the head office in Bristol and two smaller offices in Swindon
and Bridgwater. Grosvenor looks after approximately £60M of
client funds under management, of which a large percentage is
held within, currently, non-income yielding personal pension
contracts. The average adviser in Grosvenor has 12 years
experience in the industry and works with an established client
bank.
Cartlidge Morland (www.cartlidgemorland.co.uk)
Cartlidge Morland provides expert council and
management support for private clients and the business
community seeking independent financial advice and employee
benefit services. Operating from the heart of London’s Square
Mile, we provide a traditional partner-led service whilst
embracing the very latest innovations in technology and
communications.
Calkin Pattinson (www.calkin.org)
Handscombe Financial Planning Limited (www.handscombes.com)
Established in 1977, Handscombes is one of the UK’s leading financial planning practices. Clients include successful companies and entrepreneurs as well as notable sports personalities and captains of industry. The company’s success has been achieved through its ability to combine traditional values of client service, integrity and professionalism with innovative techniques and technical excellence.
Admiral Asset Management Ltd (www.admiral-online.co.uk)
Admiral is proud to be a founder member of the Ascentric wrap service. Established in 1990, we are based in Grimsby and have grown significantly by acquisition and by expanding our relationships with professional connections. Several leading firms of accountants in Lincolnshire and Yorkshire introduce their clients to Admiral.
With client funds under management in excess of £50 million and a similar amount of client legacy funds, Admiral aims to reach £100 million of client funds under management within the next 3 - 5 years. We have 3 Registered Individuals, each having in excess of 30 years experience in the financial services industry and we specialise in investment and pension planning. The emphasis is very much on providing a personal service. We like to build long term relationships with our clients and we aim to increase their real wealth by providing investment and tax planning advice.
Continual investment in leading edge technology has always been an integral part of our development. We believe this area is key to driving down costs and enhancing client satisfaction.
