The Directors of Harwood Capital Management (Harwood) and Wellian Investment Solutions (Wellian) have today announced that they have agreed a transaction to buy Wellian and make it an integral part of Harwoods growing multi-manager business.
Wellian is a highly successful investment management business based in Royal Tunbridge Wells. It has assets under management in excess of £185m on Pershing, Ascentric, Novia, Nucleus, Transact, Wealthtime, Axa Wealth and Aviva platforms.
Over recent years Wellian has delivered strong investment returns for clients and this success has been acknowledged with the award of several industry accolades including Defaqto 5 Star Awards for DFM and MPS on Platform (2015), Portfolio Adviser Wealth Gold Awards for their Balanced and Aggressive Portfolios and Platinum award for their Cautious Portfolio (2015).
Going forward, Wellian will maintain a clear sense of identity and continue to build on the strong local support that it has amongst the financial adviser community. The established resources and processes of Wellian will be further enhanced by Harwoods additional fund management, asset allocation, manager selection and distribution capabilities. Alan Durrant will be Chief Executive Officer and Richard Philbin will be Chief Investment Officer, working alongside Wellian Investment Director Chris Mayo.
Commenting on the deal Alan Durrant said:
We are delighted to have concluded this important acquisition. We have been working hard to create a holistic wealth management business and Wellian is a critically important part of this. Wellian is an excellent fit for our business bringing discretionary portfolios managed on a wide range of the platforms supported by advisers. When combined with our range of Discovery Managed Funds, we believe we can now present a full range that will meet the needs of advisers and their clients.
Eric Clapton, Managing Director of Wellian said:
This represents a hugely positive step in the evolution of Wellian. The growing number of Independent Financial Advisers introducing their clients to Wellian will undoubtedly see this as adding to the strength in depth for the business. We are particularly excited about the addition of the Discovery Funds which complements our current award-winning offering.