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Our History

Partners Wealth Management was founded in 2004, when independent city advice firm, Scott Goodman Harris, was taken over by UBS. Founding Partners, Tim Davies, John Sutton and James Roberts had worked for Equitable Life and Coutts and had seen at first-hand how in crises, large institutions looked to serve their own needs first and their clients’ second, often doing so while imposing a group-think narrative on their employees. This led directly to the firm being founded with defined core beliefs.

Freedom of action

The firm has a deep-seated philosophical belief in human freedom which manifests itself in practical terms in our independence and non-prescriptive client-centric approach. Where some groups try to micro-manage individuals, we believe advisers must have freedom over time, freedom from targets and freedom to pursue excellence. We work only with those clients who have achieved or are working to achieve their financial freedom.

The value of true independence

Anyone whose adviser is forced to sell the products of the group they work for is not receiving best advice – they are being sold to. By a well-intentioned individual no doubt, but by one whose living depends on promoting the wares of their company. True independence gives the adviser the ability to tailor recommendations to match the needs of their clients, selected from best of breed investments and other product solutions available anywhere in the market.

Partnerships

The crash of 2008 showed how in the City the interests of clients and shareholders are often are not aligned. As a partnership, we have the control to only recruit advisers who demonstrate that their clients’ interests are at the heart of all they do. Thus we are partners with each other, partners with our clients and partners with the other professional groups we work with. No external ownership affects the choices we make on behalf of our clients.

Our early growth

The principles of freedom, independence and partnership were attractive to advisors and clients alike from the outset, and the firm grew steadily until 2008. The financial crisis fully exposed what the founders had seen during Equitable Life’s demise and the dot com crash in crises, institutions look to themselves before their clients. With this behaviour being seen right across banks and investment groups, the client-centric approach at Partners Wealth Management stood out, and growth accelerated during and immediately after 2008, as our freedom and philosophy of investment independence increasingly resonated with clients.

Retail Distribution Review

The banning of commission on 1 January 2013 moved the industry closer to the philosophy consistently adopted by Partners Wealth Management. The firm already had in place its Five Steps to Financial Freedom, but we now accelerated the development of our unique ARC research and technology, enabling our advisers to provide a market-leading service on every occasion. This manifested itself in three ways:

  • Lifetime Wealth Modelling. We partnered with the award winning Voyant software to provide our clients with amazingly insightful models of their wealth and cash flow, allowing modelling of all crucial financial decisions and options.
  • ARC. We partnered with Asset Risk Consultants, the leading research boutique for discretionary investment managers, specialising in helping families and institutions with £5m-£500m identify leading performers and risk managers. This unique inside track has meant that our independent process has delivered superior risk control and high returns throughout the last decade.
  • Fusion. We partnered with the Schroders-owned Fusion wealth platform. This digital platform allows us to access over 300 different portfolios from ARC and other managers. This means we drive down the cost of investing, and are able to provide clients with an unparalleled richness of reporting through the Fusion portal. Pipeline developments, such as the integration of bank accounts views with investment   reporting, means that the portal will go on to be able to offer clients an instant view of their total wealth by 2019.

Recent progress and developments

The success of the firm has meant that new advisors have joined and developed their own specialisms. While our first clients were largely Partners in legal and accountancy firms, we now have specialised teams assisting Barristers, divorcees, entrepreneurs, trustees, executives and the retired. All these groups can benefit from access to our Private Office services. The comprehensive service this delivers in all areas of financial need means that increasingly the firm is attracting individuals with seven and eight-figure wealth who are seeking independent input in preference to being sold the in-house products offered by banks.

What we stand for today

We now have around £1.5bn of assets under management. Partners Wealth Management intends not to make the compromises others do as they reach this size and try to run money in house for simplicity. Rather, we continue to increase our growth rate as clients and advisers become increasingly fed up with the commoditised and self-serving financial services world and, in turn, become increasingly attracted to the values of freedom, true independence and partnership that we so obviously embody.

For further information on how we can help you build and protect your wealth, please contact us.

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