Morrow, who will join Ascentric at the end of his notice period in March, was previously head of commercial wealth management in the UK at HSBC. Before that, he spent nine years at Axa as head of platform distribution for Axa Wealth's wrap platform.

“Successful platform adoption and integration is one of the critical steps in getting an advisory business ready to survive and thrive in the post Retail Distribution Review environment,” said Morrow in a statement.

“I spent a number of years competing with Ascentric while at AXA, and then the last 16 months working in partnership with them while at HSBC, as provider of an open architecture onshore bond,” he added.

In September last year, Richard Goodall, the firm’s sales and marketing director resigned after two years at the company. In October, the firm also added Hawksmoor Investment Management to its platform.

Ascentric has over £3.6 billion ($5.6 billion) in assets under administration.