CompaniesMay 21 2013

Ashcourt Rowan outsources asset management admin

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Ashcourt Rowan Asset Management is to outsource its portfolio, settlement and custody services to TD Wealth Institutional.

New Ashcourt Rowan clients are already seeing their assets managed by TD Wealth and existing clients will be moved across later this month.

Jonathan Polin, group chief executive of Ashcourt Rowan, said by outsourcing his business could focus on providing advice and making appropriate investment decisions for them.

TD Wealth’s asset management platform is a complete front-to-back solution with online account access, client reporting and portfolio management.

Nigel Reynolds, head of sales at TD Wealth Institutional, said: “We are delighted be working with Ashcourt Rowan. Their management team has done an excellent job in bringing the business together on a single platform and we are delighted that they chose TD Wealth to be a key part of their strategy for future growth.”

The move to outsource asset management comes after earlier this month a financial adviser who quit his £100,000 a year job with Ashcourt Rowan Financial Planning won a high court challenge to anti-competition clauses in his contract that would have blocked him becoming a director at rival firm Fidelius.