Neptune Investment Management plans discretionary arm


Neptune Investment Management has hired Matthew Butcher from Brewin Dolphin to launch a new discretionary service aimed at building relationships with IFAs and targeting high-net-worth individuals.

A development team of five is currently working on the project, which is still at a “very early stage”, according to Neptune head of distribution Charlie Parker.

As the team is still working on what areas to insource and outsource, speaking to Fund Strategy Parker says it is too early to say how big the team would be at launch, but he says the manager is planning a “modestly-sized London-based boutique”.

Instead of setting “arbitrary growth targets” the planned division would focus on “creating the right environment for our people to give really good discretionary management”, Parker says, while emphasising that it does not plan to compete with IFAs.

He did not want to put a figure on the level of wealth the firm would cater to.

Butcher, who joined as head of client proposition from Brewin Dolphin, is working with deputy managing director Richard Green to finalise the structure of the business.

The discretionary arm will be run separately from the asset management arm and will not offer financial planning.

Former Rathbones senior investment manager James Cliff has also helped to develop the new private client team, alongside the firm’s economist James Dowey.

Parker says the firm is examining the regulatory requirements connected to the new division and says no deadline has been set for the launch.