Benchmark eyes DFM growth with latest appointment

Benchmark eyes DFM growth with latest appointment

Benchmark Capital has appointed Alex Funk as its chief investment officer as it targets the DFM space for “ambitious” future growth. 

Mr Funk will work in Benchmark's discretionary fund management business called Fusion Wealth, having previously worked at Guildford-based Premier Asset Management as an investment specialist. 

Benchmark, which is majority owned by Schroders, has an advice business, Aspect8, a network, Best Practice IFA, and two outsourcing businesses for advisers, Evolution Wealth and Creative Technologies, alongside its DFM.

Fusion Wealth has assets under management of £2.1bn.

In June a self-invested personal pension (Sipp) product was launched through Benchmark's pension subsidiary Bright Square Pensions, targeted at clients of financial advisers who are using the Fusion Wealth platform.

Schroders increased its stake in Benchmark Capital to 77 per cent in September 2018, to become the ultimate controlling party of the business. Schroders had initially invested in the business in 2016. 

Ian Cooke, the chief executive of Benchmark Capital, said the discretionary fund management business was an area being targeted for “ambitious” future growth. 

Mr Funk added: "I am delighted to be joining Benchmark Capital at an exciting time for the business, Ian Cooke and his team have built a solid foundation with their Fusion Wealth investment solutions and working together we plan to go from strength to strength.

"We have ambitious growth plans for the business and the discretionary investment solutions available on the Fusion Wealth platform."