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Ascot Lloyd caters for UHNW demand with new private office

Ascot Lloyd has opened a new private office in the north of England with the aim of building relationships as trusted advisers with high and ultra-high net worth individuals and families.

Ascot Lloyd has opened a new private office in the north of England with the aim of building relationships as trusted advisers with high and ultra-high net worth individuals and families.

The national Independent Financial Adviser firm, which specialises in financial planning, wealth management and corporate benefits, launched its Ascot Lloyd Private Office (ALPO) in Harrogate, North Yorkshire, following its acquisition of the PFP Group in August last year.

Andrew Miles, head of research, said the centralised private office was in response to “strong demand” for wealth management in Yorkshire and across the United Kingdom. The office added “critical expertise” in the ultra-high net worth segment and complemented Ascot Lloyd Financial Services and the firm’s customer support unit.

Miles said the team had “considerable expertise and experience” in advising ultra-high net worth individuals and their families and was pursuing new relationships in the market.

“We have the advantage over private banks in that we act as an independent financial concierge,” he said.

“We aim to build long standing relationships as trusted advisers. To this end, we have developed strong team dynamics to ensure that our clients have access to the same individuals who are known to them and, more importantly, who know who the client is and understand their circumstances.

“We are technically strong, with a large number of Chartered staff and are active in sourcing boutique investment propositions as well as sophisticated non contentious investment driven tax planning vehicles. “Trust work and inter-generational tax planning are important considerations.”

The impact of the UK’s possible departure from the European Union will be limited, Miles said.

“While financial markets are currently volatile, we look beyond short-term uncertainty to achieve our clients’ long-term objectives,” he said.

“Our financial advisers remain closely attuned to the financial markets and keep our clients abreast of ongoing developments that may have implications for their finances.”

ALPO has a staff of 40 in Harrogate and 12 in the West End of London. The Harrogate office also houses about 30 staff for Ascot Lloyd Benefit Solutions, its corporate advisory business, and provides central services functions to the wider group.

The group employs 175 staff managing more than £2 billion ($2.6 billion) from locations including London, Manchester, Wokingham, Cardiff, Rickmansworth, Harrogate and Wolverhampton.


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