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Veterans take on DFM created by AJ Bell’s Doran

Veterans take on DFM created by AJ Bell’s Doran

Former HSBC executive Geoff Brooks and ex-Sesame Bankhall boss George Higginson have taken over the wealth firm originally set up by AJ Bell’s Kevin Doran.

Doran (pictured) had set up a business called Alphabet Investment Partners in September last year after a brief hiatus from the industry following his departure from Brown Shipley.

He had established Alphabet with the aim of providing tailored portfolios for the IFA market. However, he decided to leave two months later after being approached to join AJ Bell Investments as managing director and chief investment officer.

The business has subsequently been taken over by Brooks and Higginson, and renamed Alpha Beta Partners.

The London-based firm is under the regulatory umbrella of Host Capital, an authorised corporate director business which has £2 billion in assets under administration (AUA) and its own platform, Digital Wealth Solutions.

Doran created the business alongside Host Capital’s Shahid Chaudhri as CIO and Asim Javed, a quantitative investment manager, along with former Capita CIO John Reynolds, who has become non-executive chairman.

Matt Brennan, formerly a senior fund manager at Brown Shipley, was expected to follow Doran to Alphabet Investment Partners in September, but instead joined him at AJ Bell in November.

Alpha Beta offers multi-asset model portfolios which are actively managed and have risk ratings from one to six. 

The portfolios are invested in direct securities, funds, investment trusts and exchange-traded funds and their ongoing charges figures range from 35bps to 40bps.

The company is also looking at launching additional funds in the future.

Javed told Wealth Manager: ‘We are trying to develop a solution which is cheap and also risk aware. We’re going to the market, asking what their risk level is and dovetailing solutions to that level of risk.

‘Most of the big investment managers use the same qualitative methods and frankly that’s not something we want to do.’

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