Wealth manager opens its doors for business in the city

FINANCIAL services business Raymond James is this week officially opening its new Manchester office.

The Raymond James office based on King Street – headed up by founding members Mark Parello and Matthew Singleton – will offer a financial planning and discretionary investment management service to business owners, private individuals, pension funds, charities and partners in professional practice.

Mark Parello is a chartered wealth manager who has spent much of his career as a private banker at NatWest. He has also has held positions at the financial planning firm Millen Capital, and was an investment manager at WH Ireland.

Matthew Singleton joined private client stockbroking firm James Brearley & Sons in 2005. He worked his way up to a senior position on the trading desk before joining WH Ireland as an investment manager in 2010 where he met Mark.

There are two other founding members of Raymond James King Street; Clive Garston and Samuel Wright.

Clive Garston has been on the boards of a number of public and private companies and has been the deputy chairman of a fully-listed company and chairman of a number of AIM companies. He is a fellow of the Chartered Institute for Securities and Investment (CISI) and deputy chairman of its corporate finance forum.

Mark Parello said: “We are incredibly excited about the launch of Raymond James King Street. Our diverse experience in the industry has enabled us to be innovators, allowing us to think differently and in turn see a better and more efficient way of providing wealth management advice.”

Raymond James has £350bn in assets under management and a market cap of £5.9bn. Founded in the US in 1962, it has been operating in the UK since 2001.

Parello said: “This puts us at a huge advantage as it provides us – and our clients – with extensive security and resources; from security of assets, to world class investment research via 80 internal analysts – many of whom are award winning – to cutting edge technology and dealing systems.”

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