Harwood Capital Management has acquired Wellian Investment Solutions, a discretionary investment manager based in Royal Tunbridge Wells.
Harwood Capital say that Wellian will become part of their growing multi-manager business.
Wellian has assets under management of over £185m on a wide range of platforms including Pershing, Ascentric, Novia, Nucleus, Transact, Wealthtime, Axa Wealth and Aviva. Wellian has won a number of industry awards, 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).
Harwood intend to keep the Wellian identity intact and support it with added fund management, asset allocation, manager selection and distribution capabilities. Alan Durrant of Harwood steps up to be CEO of Wellian, with Richard Philbin as Chief Investment Officer. Both will work alongside Wellian Investment Director Chris Mayo.
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.”
Managing Director of Wellian Eric Clapton 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.”
