Discretionary fund manager Beaufort Investment has rebranded to YOU Asset Management.
The firm says the name change is designed to provide the firm with is own ‘distinct identity’ with a focus on ‘client interests and outcomes’.
While the firm’s name will change, the team and product range will remain unchanged.
Derrick Dunne, chief executive of YOU Asset Management, said: “Our new name was inspired by our clients.
"We have always believed that if we operate in the best interests of our clients, and keep them as our focus, we will achieve a mutually beneficial outcome for all involved. We wanted to capture this emphasis and focus with our new name.”
YOU Asset Management is a subsidiary of Beaufort Group, which was established in 2012 and also includes advice business Beaufort Financial.
The firm currently manages £1.3bn in assets across active, income, enhanced passive and ethical model portfolios as well as its own multi-asset blend funds.
In April, the Socium Group withdrew an offer to buy Beaufort Group after the parties were unable to agree terms.
Beaufort Group had signed heads of terms with Mary-Anne McIntyre's private equity-backed advice group but they could not agree on the details.
Dunne said at the time: “While we weren’t able to agree terms, the process we have been through has been an extremely useful one that has resulted in significant benefits for the Beaufort Group in terms of its future direction and growth.
sally.hickey@ft.com
