Clarion, the Cheshire-based chartered financial planning business, has re-launched as two separate entities: Clarion Wealth Planning and Clarion Investment Management.

The firm said the rationale behind the reorganisation and rebrand is to provide greater clarity to clients, staff and business partners. Ron Walker, managing director of both new firms and founder of Clarion, also referred to the Retail Distribution Review, which came into force last week, saying it presented a “real opportunity” to grow the business.

All independent financial advice previously offered by Clarion will be provided by Clarion Wealth Planning, while discretionary investment management services are supplied by Clarion Investment Management.

“In order to make the most of this opportunity we felt it was necessary to clarify for clients the precise basis upon which we provide them with independent financial advice,” Walker said in a statement.

All relevant agencies have either been or are in the process of being switched, and all 13 staff have been transferred - on the same terms and with no break in service - to one of the two new companies. Ultimate ownership of the Clarion group remains unchanged.

Clarion’s independent financial advisors were granted FSA approval in the latter part of 2012 to provide advice under Clarion Wealth Planning.

Clarion Investment Management has taken over the discretionary management of clients’ segregated accounts and the management of the investments held in the three Clarion funds of funds: Clarion Prudence, Clarion Meridian and Clarion Explorer.