For Stability In Wealth Management; Don't Bank On It

Brewin Dolphin's most recent senior hire, Chris Black, has strong opinions on what gives the firm an advantage over others in what is an increasingly competitive marketplace.

Chris, who holds a degree in Economics from Northumbria University, has spent the last 10 years advising High Net Worth Clients at HSBC on Wealth Management, Retirement Planning, Inheritance Tax and Trust planning. He joined Brewin Dolphin in July, and works in the Financial Planning Team as a Divisional Director at the Newcastle office of the long-established wealth management firm.

“There is a lot of competition in the market for firms managing people’s money, but if you look more closely, then the benefits of a dedicated Wealth Management firm are pretty clear to see and that’s why – having watched the growth of Brewin Dolphin over recent years – I jumped at the chance to join the team. “One of the main draws to Brewin Dolphin was the prospect of providing genuinely bespoke personal service and financial solutions suited exactly to a client’s needs.” Banks that offer wealth management services have experienced a spate of recent departures at the very senior level and, significantly, throughout the north in Newcastle, Leeds and Manchester. Some in particular have undergone strategic changes to the business, which include their Wealth and Investment Management services ceasing to exist as a standalone division, and instead being rolled into UK corporate and retail banking. With Wealth Management increasingly becoming an ‘add-on’ to the core banking business, clients who have a real need to protect and grow their money, are often looking to a specialist that can provide the highest quality service and greater stability. Chris is convinced that Brewin Dolphin’s long heritage, combined with in-house research and forward-thinking development is the ideal blend for success; “In simple terms, if you were looking for a dentist and an electrician, you’d want an expert in each and would be a more than a little concerned if they were the same person. To be truly expert, you need to have developed, and focused on, a particular specialism. “Brewin Dolphin doesn’t offer current accounts, we don’t offer credit cards; what we do is costeffective, bespoke wealth management. A further advantage over others is that there are no potential conflicts of interest – we do not have our own funds or products, meaning we can make unbiased recommendations of other funds and products based on our research. “We steer clear of one-size-fits-all models. We know our clients are all different, and reflect that in our bespoke portfolio service.

Our highly personalised wealth management approach offers huge advantages over off the shelf offerings.” Chris is the latest in a number of new hires at the 50+ strong team at the Newcastle office based at Time Central in Newcastle. William Baker Baker, Head of Office in Newcastle, said: “Chris has been a great acquisition and underlines our aim to recruit the highest calibre of staff to service our clients. As we help more and more people with their investment management needs, we have been increasingly of the view that financial planning advice must be core to the way in which we structure their investments. “Chris has a great deal of experience in complex wealth planning matters, which is proving really valuable as we look to provide a robust and wellrounded view of all our clients’ financial affairs.” With over £2 billion of money being managed in the North East alone, Brewin Dolphin’s awardwinning personalised wealth management services meet the varied needs of over 4,000 clients, including individuals, charities and pension funds.