Brooks Macdonald Asset Management (BMAM) has formed a strategic alliance with Prosperity Independent Financial Advisers and Stockbrokers.
Headquartered in Hampshire with advisers throughout the UK, Prosperity, which was founded by Mark Newman and Jasper de Zoeten, offers support services for independent financial advisers.
Prosperity is looking to expand its number of advisers throughout 2014.
The alliance enables Prosperity to offer its clients access to one of the UK’s leading specialist investment managers. BMAM will offer Prosperity’s clients two investment propositions: the Bespoke Portfolio Service and the Managed Portfolio Service, both of which have 5 Star Ratings from Defaqto. Brooks Macdonald will also provide a nominee, dealing and custody service.
The Bespoke Portfolio Service is designed for private clients who require an individual investment portfolio constructed and fine tuned to reflect their investment objectives, tax status, attitude to risk and other personal circumstances.
The Managed Portfolio Service provides Prosperity’s clients access to a choice of five actively managed, risk-rated, diversified portfolios which invest in a wide range of investments (unit trusts, OEICs, investment trusts, exchange traded funds, structured products and cash) to ensure a spread of risk across the full range of asset classes. The portfolios will be marketed exclusively to clients of Prosperity (both existing and new) and can be held within a wide range of product structures. These include:
• Offshore and onshore bonds
• SIPPs (self invested personal pensions)
• SSASs (small self administered pension schemes)
• Individual trusts
BMAM will manage both of these services for Prosperity on a discretionary basis with responsibility for the suitability of the portfolio’s being retained by Prosperity. The portfolios will be managed by BMAM’s Hampshire office led by John Wallace, regional director.
Newman says “Forming a strategic alliance with Brooks Macdonald has helped us develop a bespoke investment management proposition that will offer an enhanced investor and advisor experience and provides us with a more robust compliance model for the post-RDR world. We believe we are now able to offer our clients a seamless investment and advice proposition, which truly sets us apart from the competition.”
Andrew Shepherd, joint managing director, BMAM, says: “The investment management services that we are providing are designed to cover Prosperity clients' wide range of investment objectives and risk profiles.
“They have a thorough financial advisory process that feeds into our solid investment process and provides clients with a first rate wealth management solution. We very much look forward to working with Mark and his advisers to meet the needs of their clients.”