Heartwood Wealth Management has rebranded to align with its parent group Handelsbanken weeks after it announced it was ditching its adviser channel.
The firm will now be known as Handelsbanken Wealth & Asset Management. The rebrand comes weeks after the firm announced it was pulling out of the intermediated market, stating the market had become too “competitive”.
Heartwood’s wealth management business will retain its current name of Handelsbanken Wealth Management, while the asset management business, Heartwood Investment Management, will become known as Handelsbanken Asset Management.
The firm’s funds will also rebrand from a Heartwood to a Handelsbanken prefix.
Handelsbanken, a Swedish bank, acquired Heartwood in 2013.
Handelsbanken Wealth & Asset Management chief executive Graham Turner (pictured) said: “Heartwood has been part of Handelsbanken for seven years, and the name change reflects our desire to be a fully integrated business.
“It is a natural step in our evolution and will ultimately enable us to deliver more value to our customers, with a best-in-class wealth and investment management proposition.”
See also: Heartwood exits ‘competitive’ adviser market to focus on private clients
