There is no sign of the number of boutiques being launched slowing down, with another coming to the market under the Raymond James banner.
Launched by Andy Butcher (pictured left) and Ed Froggatt (right), former colleagues at NLP Financial Management, the new branch will be based in Hampstead. The duo will offer a range of financial planning services, as well as a discretionary investment proposition.
This will consist of six core model portfolios that will be run on a bespoke basis for clients, investing in collectives. The financial planning service, including discretionary management, will levy an ongoing charge of 1%.
Further down the line, Butcher said, the pair will look at creating a service they can offer to smaller and younger clients, using technology. Butcher said: ‘We are completely focused on ensuring our clients are looked after in the best way possible. There are numerous ways we hope to achieve this, including integrating more technology into our business.’
Although the firm currently has just two staff, there are plans to hire more over time.
Froggatt said: ‘One of the key reasons we wanted to partner with Raymond James is to focus on the financial planning and building relationships with clients knowing that there is a full suite of support via the Raymond James offering.’
David Hazelton, head of business development at Raymond James, added: ‘We are very pleased that Ed and Andy have joined us; they bring a wealth of experience in the financial planning and investment management space.’
Froggatt started his career at Lloyds prior to joining NLP in 2012. Butcher initially worked in accountancy before moving into financial planning.