Discretionary fund manager Brooks Macdonald has entered into a ‘strategic alliance’ with Manchester-based advisory firm Pareto Financial Planning.
The deal will allow Pareto’s clients access to Brooks Macdonald’s discretionary investment management as part of Pareto’s independent financial advice proposition.
Brooks Macdonald will offer clients of Pareto its full range of investment services, including its Bespoke Portfolio Service, and the management of Isas, offshore and onshore bonds, self-invested personal pensions, small self administered schemes and individual trusts.
Currently Brook Macdonald has a 93 strong investment team, which will be available to Pareto.
Pareto managing director John Stevenson said the partnership was an “important step”, as his business looks to strengthen our proposition.
“Brooks Macdonald has a strong track record and will provide an excellent solution for some of our clients seeking investment management services,” he added.
Nick Holmes, managing director for asset management at Brooks Macdonald, added: “Pareto is an exciting business with a strong proposition, and we look forward to working with them in this capacity.”
Pareto, which was founded eight years ago by ex-Lighthouse pair John Stevenson and George Chantry, has grown its turnover to £3.4m, an increase of 26 per cent on last year.
The company now employs 36 people, after increasing its headcount by nine in the past year.
Some 40 per cent of the firm’s turnover now comes from recurring income, with funds under influence increased by £100m to around £281m.
laura.miller@ft.com
