When David Pegler and his colleague Tim O’Connor were profiled, back in early 2015, they had recently left Brewin Dolphin to launch their own firm, Brighton Capital Management.
Now two years into the endeavour, Pegler (pictured) describes how the business is beginning to take on a multi-family office element, as it signs a number of significant estates.
How has the makeup of your client base changed since you were a Wealth Manager cover star?
‘The biggest change was recently starting to look after large families. We look after a selected number of families, which are larger entities, and there is a lot more work involved.
‘But it is very rewarding, in that you really get to know the family very well and so we are almost moving from wealth management into a multi-family office.
‘That’s not saying that we’re not dealing with the client base we always dealt with; we just are increasingly finding that we are working with a selected number of families and groups in the local area, which is great.
‘Because of the higher net worth families, our average client size has gone up and we are now managing close to £100 million.’
‘Our whole business has kind of morphed from investment management into financial planning, to wealth management; and now to a multi-family office type proposition with a private offering to a select number of clients that really want to be looked after.
‘We may spin it off as a separate company in due course, but at the moment we are doing it through our offering with Brighton Capital Management.’
How has the landscape for your business changed in the last couple of years?
‘We are a local company in Brighton, where a lot of the big corporates have turned their backs on the city.
‘We opened up here thinking that there was a need and I think in two years we have proved that. Our small team is now running £100 million and getting enquiries on a regular basis from local people. Some local families had a look at some of the big banks and things in London and just didn’t feel the love.’