Hargreaves Lansdown Group  

Wealth Club hires from Hargreaves Lansdown for DFM launch

Wealth Club hires from Hargreaves Lansdown for DFM launch

Wealth Club has hired Hargreaves Lansdown’s equity research team lead.

Nicholas Hyett will join the company's investment research team to enhance its tax efficient investment offerings, as well as supporting the roll-out of private asset funds.

He will also be involved in the firm’s new high net worth discretionary fund manager that is planned for later this year.

Hyett previously spent five years at Hargreaves Lansdown where he covered UK, US and European equities and acted as a spokesperson for the firm. Before that he worked at PR firm Bell Pottinger for three years.

Hyett said: “In a very short space of time Wealth Club has transformed the way investors access tax efficient investments, providing excellent information on the different products and making them far easier to invest in. 

“I’m joining the business at an incredibly exciting time, and I particularly look forward to helping Wealth Club move into private asset funds and launch its new DFM.”

Alex Davies, chief executive of Wealth Club, said the business wanted to provide high net worth clients with the very best information. 

“Nicholas’ appointment will allow us to bolster what we already do and help us expand into new areas,” he said.

“The business is now nearly six years old, with 8,000 clients who have invested £760m with us. We have very ambitious plans for the future. This is just the start.”

Wealth Club's new DFM will be targeted at high net worth individuals and sophisticated investors, and was announced at the end of last year.

It will be completely online and will have a “significantly lower cost” than conventional portfolio management services, and will offer exposure to Oeics, investment trusts and ETFs as well as private market funds from blue chip fund managers.

sally.hickey@ft.com