Alan Easter, former director of Honister Capital, is launching a new advice and fund management group, which has Peter Williams, former head of industry development at Aegon, and David Ingram, former technical director of Threesixty, on the board.
The Beaufort Group is made up of Beaufort Financial Planning (BFP) and Beaufort Investment Management (BIM).
BFP will provide whole of market and restricted advice services to clients via a partnership model. Principal partner firms, or appointed representatives, will employ intermediaries who will act as regulated individuals.
Easter, chief executive of the Beaufort Group, says he has six principal partners, with a total of 23 advisers, and is aiming for a total of 12 principal partners by the end of the year.
Each adviser must be qualified to at least QCF level four, hold Personal Finance Society membership and achieve certified financial planner status within three years and chartered financial planner status within five years.
The partners will operate via a centralised paraplanning service and charge via a time-costed fee structure that can be paid upfront or through an investment product.
BIM will provide asset management services through advisory model portfolios, discretionary model portfolios, discretionary investment services and risk-managed in-house Oeics.
The initial Oeic range will include Beaufort Equip Cautious, Beaufort Equip Growth, Beaufort Equip Adventurous and Beaufort Equip Income funds. They will utilise both active and passive management.
BIM will contract external fund managers to run the portfolios. It will offer both in-house and external investment solutions on a single platform and under a single pricing structure.
The platform strategy and pricing models are being developed in conjunction with Seven Investment Management.
Simon Goldthorpe, founder of Beacon Asset Management, is Beaufort Group executive chairman, Clive Goldthorpe, former adviser at Radcliffe & Co Life & Pensions, is chief operating officer and Jacqui Wren, former head of finance at Energy Assets, is finance director.
Andrew Bennett, a former partner at Minotaur Wealth Management, a trading name for Honister Partners, is BFP managing partner and Shane Balkham, former chief investment officer at Equip Investment Services, is BIM chief investment officer.
Non-executive directors include Williams, Ingram and Stephen Watson, former chief investment officer at Gartmore Global Partners.
Beaufort Group plans to launch two additional subsidiaries, Beaufort Corporate Clients and Beaufort Direct in late 2012 or early 2013.
Easter says: “The group is an adoption of all the good things we admire in the sector, populated by people who share the same vision and ethics. To be supported by such expertise and strength on the board is concrete validation of what we are setting out to achieve.”