UK-based wealth manager Heartwood has launched a separate division for its investment management operations, which it says is the result of its long-term strategy of building a scalable investment platform.

The firm said its decision to create a separate division is partly based on its growth, stating that total assets under management and administration have grown from just over £800 million (about $1,300 million now) in 2007 to more than £1.3 billion currently.

“We look forward to building a stronger identity for our investment management division that is commensurate with our size,” said Simon Lough, chief executive of Heartwood.

The new division will be lead by chief investment officer Noland Carter. It will manage segregated portfolios, and offer new and existing clients access to its multi-asset funds, the firm said in a statement.

Alongside its multi-asset fund range, Heartwood has, over the past few years, also launched a new InVantage portfolio management and settlement system, aiming to improve client servicing and operating efficiency.

“Offering a truly integrated wealth management service will remain central to our business, and we expect that many of our clients will continue to benefit from our wide-ranging services, which include tax structuring, retirement and inheritance planning,” said Lough.

Heartwood provides investment and private wealth management services for ultra high net worth and high net worth individuals. It has offices in London and the South East.