Strategic Expansion of Global Wealth Management Footprint
Brewin Dolphin: A premium franchise with scale in a growing UK & Ireland
Wealth Management market
Overview
■ Founded in 1762, Brewin Dolphin is one of the largest
discretionary wealth managers in the UK & Ireland
Strong market presence and distribution.
- 30+ offices across the UK, Ireland and Jersey
- Just under 1,300 members who are directly
focused on client service
- >1,700 relationships with firms of independent
financial advisors (IFAs)
■ Broad client offering to maximise flows. Offers
services to over 80,000 clients across the wealth
spectrum from mass affluent to bespoke and complex
solutions for High Net Worth (HNW)
· Average client AUM of ~£700k
- Strong net flows in a secular growth market
Significant technology investments expected to
increase advisor capacity, improve client experience
and onboarding, and help drive operational
efficiencies
Strong brand with Brewin Dolphin reporting that 97%
of clients would recommend them (1), and a 96% client
AUM retention rate
Broad range of client value propositions and investment solutions (2)
Complexity of Client Advice Needs
1762
30
WealthPilot
Complex
financial advice
service
HNW & UHNW
solutions
■ Face-to-face delivery
■ Advice across all areas of complex
clients' financial needs - focus on
financial planning
■
Broad range of investment solutions
Complex needs
■
Headline fee: 115-150 bps
☐
Strong culture. Employee engagement score was
88% in 2021, 10 pts above the financial services
benchmark
■ Launched two new ESG investment solutions for
clients, through 1762 from Brewin Dolphin and a
responsible Managed Portfolio Service (MPS) solution
for intermediaries' clients
Wealth Core
Brewin
Portfolio
Service
Wealth advice
service
Mass Affluent to
HNW solutions
Largely advised
& complex needs
Simplified
financial advice
service
Largely Affluent
solutions
Largely advised
Non-advised self
select investment
service
Largely Mass-
Market solutions
Non-advised
■ Face-to-face delivery
Advice across all areas of clients'
financial needs
■ Broad range of investment solutions
Headline fee: 130 bps (IM only), 150
bps integrated
Face-to-face in office & digital
delivery
■ Pensions, investment & protection
■ Active & passive investment
solutions
Fee: 100 bps
Fully automated delivery
Risk rated passive portfolios
■ Fee: 70 bps
(1) Survey of Brewin Dolphin clients, April 2021; (2) Sourced from Brewin Dolphin's 2021 annual report. Market definitions as follows: Mass Market <£100k; Mass affluent: £100k-£250k; Affluent: £250k-£1M; HNW: £1M-£5M; and
UHNW: >£5M
4
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