Brooks Macdonald has opened a branch in Cheltenham and relocated its Taunton office to Exeter in a bid to expand its regional presence.
The new office will be headed up by Austen Speakman, who joined Brooks Macdonald in 2009 and is responsible for managing discretionary portfolios on behalf of a range of clients.
The opening coincides with the relocation of the Taunton office to Exeter, which will continue to be led by John Sadgrove.
Andrew Lewis, head of Wales and south west at Brooks Macdonald, said: “The south west is a key hub for financial services and the opening of these new offices will allow us to better serve advisers and clients across the region.
“We have long believed in the importance of a local presence and we are confident that the teams will continue to grow and build on the successes of the past years.”
The Cheltenham office, which opened on 12 July, is the 13th in Brooks Macdonald’s network across the UK and Channel Islands. The group’s other operations are located in London, East Anglia, Hampshire, Leamington Spa, Leeds, Manchester, Tunbridge Wells, Edinburgh, Cardiff, Jersey and Guernsey.
At the end of March Brooks Macdonald had £15.6bn in funds under management, a 0.9% increase from December.
Chief executive Caroline Connellan announced she would be exiting the business to become the boss of Standard Life Aberdeen’s personal wealth arm, a move some commentators felt was premature given the wealth manager is in the middle of a digital transformation. International boss Andrew Shepherd stepped up to replace Connellan earlier this month.
Last week Portfolio Adviser reported that senior investment director Robert Seifert had left to join James Hambro & Partners.
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