DeVere United Kingdom has launched a high net worth division to help the firm grow its business by 50 per cent in 2016.
According to Mike Coady, managing director of deVere United Kingdom, the firm has already seen a significant growth in enquiries from prospective clients across 2015 and he expects this trajectory to continue.
Mitch Hopkinson, who has been promoted from head of East Midlands to head of advice, will lead the new high net worth division.
The division will cater for clients who will typically have more than £1m of investable assets.
He added deVere United Kingdom and its standalone brands were forecast to further raise standards and improve efficiencies, while aiming to do half as much business again as it did in 2015 - which was a record-breaking year for the company, in part driven by the the new pension freedoms.
Kevin White, former head of UK financial planning, becomes head of distribution
Lee Grimshaw, former senior paraplanner, becomes head of proposition
Chris Barry, head of the pension review team becomes head of retirement
Mitch Hopkinson, former head of East Midlands, becomes head of advice
He said: “Clients continue to demand more from us across our brands - deVere United Kingdom and deVere Mortgages – and we are up for the challenge.
“We expect to be able to satisfy this appetite for our service by achieving at least a 50 per cent increase in our business in Britain over the next 12 months.
“deVere Mortgages has experienced a month-on-month increase in enquiries since it was launched as a standalone brand in January 2015, with a considerable surge in the last quarter.
“More than 70 per cent of all enquiries come from foreign nationals or British nationals living and working abroad. The overwhelming majority of these individuals, approximately 60 per cent, currently reside in Switzerland, UAE, Qatar and the Far East.
“We expect this trend to continue, and will focus on developing to cover other important international centres which have high numbers of UK expats.”