Brooks Macdonald Asset Management, the private client investment manager, has expanded its intermediary sales team, hiring Grainger Thomas and Alan Falkingham, explaining that it needs to adapt as the UK's overhaul of the financial advisory market takes effect.
Thomas will develop professional advisor and intermediary relationships in the counties of Wiltshire, Dorset and Hampshire. He joins from AXA Wealth, where he was a senior business development manager responsible for managing professional advisor and intermediary relationships. In previous roles, Thomas worked as a business development manager with Scottish Equitable and AXA Equity & Law.
Falkingham joins the intermediary sales team to maintain and develop IFA relationships across the South West and South Wales. Prior to joining BMAM, Falkingham worked as relationship director for AIG Private Clients and as a development manager with Montague Capital. Prior to this, he worked in various sales and marketing roles at Hill Samuel, AMP Pearl, and NMG Financial Services.
“The Retail Distribution Review is encouraging advisors to seriously consider the wisdom of doing the full investment management process themselves, and many have reached the conclusion that they should outsource. We have increased our team to ensure we are able to support these IFAs effectively,” BMAM joint managing director, Andrew Shepherd, said in a statement.
He was referring to the RDR programme of reforms the Financial Services Authority, the UK regulator, has designed to drive out use of commissions and raise professional qualification standards in the IFA and wealth management industry.
These two new hires bring the total of intermediary sales managers in the Brooks Macdonald intermediary team to 12, covering the whole of the UK, BMAM said. The firm has offices in London, Hampshire, Manchester, Tunbridge Wells and Edinburgh and currently manages £2.689 billion (around $4.34 billion) of funds under management.