The advsier market is a “significant part” of Charles Stanley’s growth strategy, distribuition chief Mark Pittaccio has said.
Mr Pittaccio, who joined the company in October, said he has been meeting advisers with a view to expanding the discretionary manager’s reach.
He said: “The intermediary market is a significant part of our growth strategy going forward.
“I have been developing some very strong relationships with nationals and networks, but we are very much looking at that smaller regional IFA as well.
“We do tend to work with some of the larger businesses, but it is about the mindset of those intermediaries, rather than the size.”
Charles Stanley launched its discretionary fund management service in 2011 which has a growth, balanced and income portfolio.
As of December 2015, these provided a gross total return, respectively, of 71.3 per cent, 65.02 per cent and 55.73 per cent, since inception.
Mr Pittaccio said that since joining Charles Stanley he has hired an intermediary team which will also provide “agnostic” business strategy advice.
“A lot of people use the word ‘outsourcing’, which is not a word I like. I prefer to think of it as ‘insourcing’ our expertise into your business.
“Everything we do with intermediaries is to help advisers help their clients.”
Last month, Charles Stanley became the latest wealth manager to add its model portfolio data, including asset allocation and performance details, to FE Analytics.
Before joining last autumn, Mr Pittaccio was group investment director at In Partnership and prior to that he was investment director at Thinc Group and founder of Highfield Financial Services.
Adviser view
Stefan Fura, director of Leicester-based Furnley House Wealth Management, said: “We have never really had any exposure to Charles Stanley.
“We do use DFMs but in a limited capacity. We are looking for a provider to complement what we do and add value to our clients.”
