Managing your own wealth is a serious business. It’s critical that you don’t get it wrong, as your future may literally depend on it. But at the same time you’re probably not an expert, and you won’t want to spend all your time tracking your assets.

For these reasons, it often makes sense to have the assurance that your investments are being well managed by professionals with the clout and in-house experience to deliver for you in conjunction with your independent financial adviser.

Brewin Dolphin is one of those major players. It can trace its origins back to 1762 and has a network of 28 offices across the UK, the Channel Islands and Ireland, including Scottish offices in Glasgow, Edinburgh, Dundee and Aberdeen.

The Herald:

WINNERS: The Glasgow office has just had its excellence recognised by winning the Best Discretionary Fund Manager in Scotland and Northern Ireland award at the Citywire Wealth Manager Regional Stars Awards.

The business services clients directly or through Independent Financial Advisors, providing full investment management while fully respecting the relationship the advisor has with their own clients.

The Glasgow Office has grown its business dramatically. It has risen by 10 per cent per annum over the last two years and by 14 per cent this year – impressive by any standards. It now employs 35 people and has just under £1 billion in assets under management.

“It’s a very exciting phase for us,” says Stephen Martin, who is head of the Glasgow office. “We have the highest standard of investment managers and there is a huge energy and self-belief within the whole team to grow and deliver world class service.”

The Glasgow office has just had its excellence recognised by winning the Best DFM (Discretionary Fund Manager) in Scotland and Northern Ireland award at the prestigious Citywire Wealth Manager Regional Stars Awards.

The Herald:

This is an important win: the awards are highly esteemed as they are voted for by the IFA community itself.

It wasn’t the only award Brewin Dolphin picked up from the Citywire event. The company also took the prize in four of the eight regions, with Cardiff (Wales) Exeter (South West) and Ipswich (East) joining Glasgow in success.

“We’re absolutely delighted with this win,” Stephen adds. "The award really demonstrates the quality of our service and culture. Our regional wins are a testament to our commitment to support our Independent Financial Advisors with the best possible investment strategies to fit with their clients’ expectations and needs.

"Brewin Dolphin has a wide range of services available to Independent Financial Advisors and direct clients.

"The Glasgow operation has its own team of portfolio managers, backed up by our award winning research function across the whole business, constantly monitoring all the asset classes including cash, bonds, direct equities, unit trusts, investment trusts and property.

“For our direct clients it’s a full wealth management service. All our business is discretionary and we fully respect our client’s wishes and views, objectives and their ethical constraints. We offer third party investment management for clients of Independent Financial Advisors. Our service levels really are the best the industry can offer.”

The Herald:

This, he says, is in many ways down to having such a strong and dedicated research function which is very important in this industry.
Clients get a first class service and the firm has a great track record on investment performance, which is in line with their objectives. “We have really good people on the ground working for us and a really strong relationships,” he adds.

He describes the business as “genuine, expert and ambitious”, continuing: “We also have a tremendous heritage and culture, and that’s important too. The reason we have grown the Glasgow office is that there is a real sense of togetherness in the team – we work hard, enjoy each others’ company and have an environment where we help each other out.

“At the same time, we are thinking of the future, with plans for further growth, including expanding the team and employing the right people who share our thinking
and values.

“We put the client at the heart of everything we do. Some Independent Financial Advisors want us to meet their clients, while others prefer us to work in the background. Either way is fine with us – we will always deliver what the financial adviser wants.”

Brewin Dolphin is also conscious of the importance of making a contribution to the community and has its own corporate and social responsibility programme. It has, for instance, partnered with Macmillan Cancer Support for the last 13 years and in total has helped raised about £1 million for the organisation.

The Herald:

It has also sponsored other medical charities including Cure Leukaemia (London to Paris bike ride) and local bodies such as Enable Scotland. It has also gifted a sculpture originally commissioned for the Chelsea Flower Show to the charity Horatio’s Garden at the Scottish National Spinal Injuries Unit at the Queen Elizabeth University Hospital, Glasgow.

In total, Brewin Dolphin has more than £36 billion of funds under management and more than 100,000 account holders, including individuals, charities and pension funds, of which over £30 billion is managed on a discretionary basis.

Services range from bespoke discretionary investment management to retirement planning and tax efficient investing.

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STAFF HAVE THEIR EYES ON THE PRIZE...FOR 2018

Winning the Best Discretionary Fund Manager Award for Scotland and Northern Ireland is an important – and much valued – accolade for Brewin Dolphin’s Glasgow office. It is a reflection of the strength of the relationship it has with its independent financial advisors and the level of service it provides to them.

“We’re over the moon about the win and would very much like to thank the financial advisors who voted for us,” says Vicky Drysdale, who heads up the specialist IFA team in Glasgow. “This recognition is very important as it comes directly from the people who allow us to manage their client’s portfolios.

“We will continue to deliver performance and high level of service but also want our Business Development Manager Maxine to leverage off the award to reach out to those advisors who don’t use us yet.”
Maxine Anderson, Business Development Manager, also expressed her delight at the win. “This award differentiates us in our peer group and is very much a recognition of the quality of our offering.

“It’s good to know that they rate us so highly and that they took the time to cast their vote. By working in conjunction with us, they will have happy clients and grow their business. The challenge is to retain the title – I’m already thinking of 2018.”

The Herald:

Drysdale explains how the relationship with the financial advisor works: “When we first meet with the advisor, we explain that we are the third cog in the wheel, alongside themselves and their client. The advantage we have is that as a discretionary manager, we can then buy and sell investments on behalf of the clients, as we have the mandate which allows us to move quickly and respond to the markets.

“The advisor will sit with their client and put together a long-term strategy, taking into account the client’s risk profile, income requirements, and long term goals. It may also include areas such as pensions, tax and inheritance planning. We work with the financial adviser and put an investment strategy in place according to the client’s objectives.

“It’s our job to understand the investment mandate and ensure the underlying investments are suitable and in line with the client’s risk appetite. The financial adviser is kept up to date about the portfolio at all times.

“At the moment we are doing lots of pension business as there has been a huge shift in the marketplace under pension freedoms. We can put specialist investment strategies in place in conjunction with the financial advisor for retirement planning.”

It makes sense for a financial advisor to forge a relationship with Brewin Dolphin, Maxine says, as everyone benefits.

“By appointing us as the discretionary fund manager, the client benefits from our active management, it frees up the advisor’s capacity to spend more time with their clients and helps them grow their business.
“Time has a cost and we are saving them that time,” she says.