Driver has been with the firm for three years and led relationship teams serving high and ultra-high net worth clients as network director at the company.
He will report to CEO Richard Charnock, who said “David played an integral role in making Standard Life Wealth one of the fastest growing DFM firms in the country and under his leadership it will continue to perform to the high standards expected of it by our partners and their clients.”
Standard Life Wealth’s assets have grown to £1.6bn over the past four years (as at October 2012), with AUM now double the 2011 amount of £800m.
Net flows into Standard Life Wealth’s higher margin, ‘5 Star’ Defaqto rated, propositions increased by 95% year-on-year to £572m from £294m in 2011.
The firm expects further growth thanks to RDR, as Driver said “With RDR now implemented, we believe there will be an increase in the number of advisers choosing to outsource investments, allowing them to spend more time on other areas of their client’s accounts while also de-risking their business.”