Ben Yearsley, formerly an investment manager at Hargreaves Lansdown and head of fund research at Charles Stanley, is teaming up with former Whitechurch Securities boss Gavin Haynes to launch an investment outsourcing service for advisers.
Mr Yearsley spent 15 years at Hargreaves Lansdown prior to his departure in 2012, while Mr Haynes spent 20 years at Whitechurch Securities.
The duo’s new venture, Fairview Investing, will offer advisers centralised investment propositions, fund selection, asset allocation, and model portfolio services.
The company will not deal with or meet end clients and it will also not manage money on behalf of clients, and does not have discretionary permissions.
Mr Yearsley told FTAdviser: “There are other companies in the market that do this sort of business, but they don’t do it in the bespoke way we do.
"We are not looking to work with a hundred advice firms, it will be fewer than that. But it will be bespoke to each firm, the idea will be that we can ask them what they want, do they want investment trusts or not, for example, rather than just creating an off-the-shelf product they can buy.”
Both Mr Yearsley and Mr Haynes are based in Bristol, and the business will be based there.
Mr Haynes said: “I have been looking for a new challenge and see an opportunity to work closely with advisers who do not want to outsource the responsibility for their clients' investment strategy to a third party.
"With our combined experience of building portfolios and researching funds I believe we can help advisers build robust, good value investment strategies for their clients.
"Ben is already successfully working with two adviser businesses in this way, helping enhance their investment proposition.”
What do you think about the issues raised by this story? Email us on email@example.com to let us know.