New hires signal firm’s intent to break into wealth management market
Accountancy and advisory firm, Azets, has launched plans to advance into the wealth management market in Yorkshire.
It has recruited financial planners to lead the new service from its three offices in Leeds, Bradford and York for private clients and business owners across the whole of the county.
The company says it aims to grow a significant wealth management and financial planning business through organic growth and a targeted acquisition strategy.
Leading the team are financial planner Matt Knott, who recently joined the firm, in the Bradford office, chartered financial planner Tom Lester in Leeds and partner and Yorkshire head of wealth management Andy Kilby in York.
Kilby said: “We have ambitions to build a market-leading wealth management and financial planning hub that understands Yorkshire and is tailored entirely to its needs.
“Although it is a new service for clients in Yorkshire, it is not a new service line for Azets where we have a great depth of financial planning experience which we wish to bring to the county.
“The new service will complement our already well-established private client offering and allow us to provide a joined-up and complementary approach with colleagues in our private client tax team.”
Azets, which employs 335 people across its offices in Yorkshire, aims to target firms in the £2.5m to £6m turnover bracket for acquisition.
Kilby said: “Our starting point is to understand what our client’s goals are and what they want to achieve.
“Then, we devise a bespoke financial plan which will likely incorporate solutions, such as retirement planning, investment planning for growth or income, or estate protection, along with input from our private client tax team where appropriate.
“Clearly, many of our clients are in business. Being part of an accountancy practice gives us significant experience of advising business owners around both their business and personal planning.
“We look at the individual behind the business while ensuring that aligns with what they are doing with their company.”
Mark Parkinson, who is Azets wealth management chief executive officer, added: “We are totally independent with no links to any bank, investment providers or insurance companies.
“We hope that this will make us more attractive as an acquirer as we are not simply trying to boost our investment portfolio or gain users for a particular platform.”