Prydis Wealth, the wealth management division of Prydis, has reached £1bn in assets under management.
The firm achieved the milestone through recruitment and organic growth.
The core Prydis Wealth team comprises seven advisers and an operations, compliance and support team of 16, half of which have been employed in the last two years.
Liz Andrews, director of financial planning at Prydis Wealth, said: “This significant milestone has been part of our strategic growth plans over the past two-years which have been ambitious.
“The growth has been through a mixture of key recruitment and organic growth.”
The firm also credited Prydis Wealth’s subsidiary, Financial Solutions, which was launched by managing director James Priday to provide IFAs with back-office support and systems, with helping the firm to grow.
Priday said: “The rapid and sustainable growth has been possible because of our focus on, and continual improvement of, our systems, processes and support team that provide our advisers and clients with a consistent and proactive service. We embrace technology in everything we do.”
He added: “Financial Solutions provides a regulatory home for our members, allowing the advisers to focus on their businesses, continue to provide their clients with a great service and maintain the independence they enjoy without the additional pressures of report writing and administration.
“Many of our advisers have come to us through word of mouth from their peers, which is testament to the great support our team provides.”
The company said Prydis Wealth’s sister company, P1 Investment Management, which provides digital investment management services to external wealth management firms, and has also seen rapid growth over the past two-years.
It said “growth plans will not stop at £1bn” as more recruitment is on the horizon at Prydis Wealth and continued interest from advisers to join Financial Solutions.
“2022 looks set to be a year when more growth targets are smashed,” it added.
sonia.rach@ft.com
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