Anderson Strathern Asset Management is set to expand with new advisers and a new operational structure, chief executive Alec Stewart has said.
Currently in its fourth year of trading, the Edinburgh-based firm has seen a 27.6 per cent growth in assets under management in its first three years.
“Traditionally it has been land and estates, but we have seen a marked change in our client base towards the entrepreneur and corporate sectors, as well as changes from the markets, and we are growing from strength to strength,” Mr Stewart said.
He did not disclose any figures at this stage, but Mr Stewart said that when the firm announces its AUM in May, the figure would reflect the recent addition of a large financial family client.
The business is divided into a financial planning areas and investment management, which includes discretionary management.
“Typically clients will engage with the financial planners, who will do a cash flow, ascertain their risk appetite and decide on a benchmark. The discretionary managers will try to beat this and meet their objectives. If we miss critical yield benchmarks it would also indicate to us why.”
The firm currently has five financial planners and four portfolio managers, and are looking to recruit a couple of investment analysts.
In the past year, the firm made a number of senior hires including a finance director, chief investment officer and a head of operations.
“It is imperative for us to embed the new hires and ensure we put all resources in place for growth. We hope to have greater depth in our research and analysis proposition, and we are changing our operational structure to allow for further growth,” he said.
ASAM’s client database is made up with high-net worth clients as well as trusts, businesses and charities across the UK.
Mr Stewart explained: “As we are based in Scotland, most of the client base is here, but they do extend across the UK to the likes of Dorset, Yorkshire and London.”
Mark Hutchison, head of marketing at the Professional Finance Society, said: “It is hugely positive and proves the power of professional connections, once you reach a senior level it pays to start collaborating with other professions, such as the accountancy and legal professions. This seems to be a company that does this well and the consumer can only benefit from this, as they can get true holistic professional advice and the tax and legal consequences.”