Press Releases
FOR IMMEDIATE RELEASE |
May 7 2009
Conforto Signs With Raymond James as Platform Partner
Conforto Financial Management, the innovative fee-based independent financial adviser, has signed with Raymond James as its platform partner in a key strategic deal to enable it to step up ambitious expansion plans.
Around six platform providers were shortlisted by Conforto, which is best known for advising elite professional sports people, before it selected Raymond James as its partner.
Previously Conforto had used four platform providers across its client base which has grown rapidly as assets under management have increased from £50 million to £125 million in the past year.
However expansion meant Conforto had to select one provider in order to ensure service to clients continued to improve and to support a potential move into providing discretionary services.
Mike Walsh, Conforto’s Commercial Director, said: “We cannot keep on growing at the pace we are growing without becoming more efficient. The growth of the business is leading us down certain decision paths and this move was inevitable.
“If we want to deliver our ambition of becoming proactive with clients we have to centralise. We are delighted to be working with Raymond James who were head and shoulders above the other providers we saw.”
Peter Moores, CEO of Raymond James Investment Services, said: “We are pleased that Conforto has selected us as their platform partner. Our goal is to provide independent firms with the operational and strategic flexibility they need to help them efficiently manage their clients’ wealth. Conforto is the type of firm where we can add value.”
Conforto recently raised £1 million from new and existing investors to finance organic growth and potential acquisitions to build on recent deals.
It acquired the Hertfordshire-based McCroddan Partnership in July 2008 and Surrey-based Christie Scott’s in October last year. Both companies have been successfully integrated into the Conforto business model.
The group has increased staff numbers to 16 over the last year and is focused on a longer term aim of building a company with £500 million in assets under management.
Conforto currently advises clients such as golfer Ian Poulter, former England and Arsenal footballer Lee Dixon, former boxing World Champion Barry McGuigan and West Ham United and England footballer Matthew Upson.
Enquiries
Conforto Financial Management
Mike Walsh, Commercial Director – 0870 7778670
mike.walsh@conforto.co.uk
Raymond James Investment Services
Cynthia Poole, Director of Relationship Management and Business Support – 0207 096 6751
Cynthia.poole@raymondjames.com
Citigate Dewe Rogerson
Kevan Reilly/Stephen Sheppard – 0207 638 9571
Notes to Editors
About Conforto
Founded in 2005 Conforto Financial Management is a fee-based, specialist independent financial management firm operating in the sports and general, high net worth individual market. The business was initiated with funding by owner directors which was augmented in 2007 by further investment from the business angel community. The firm is based in Hitchin, Hertfordshire. For more information go to www.conforto.co.uk.
About Raymond James Investment Services (RJIS)
Raymond James Investment Services Limited (RJIS) is the UK private client investment management arm of Raymond James Financial, Inc., a diversified financial services company headquartered in St. Petersburg, Florida, USA. The firm commenced operation in 2001 and now has 8,100 client accounts representing total assets of £1.2 billion (US$1.8 billion). Figures for March 31st 2009 show RJIS has 52 affiliated offices, which represent a number of experienced and well regarded private client investment managers, stockbrokers and wealth managers located throughout the UK.
RJIS is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority. Its Registered Office is at 77 Cornhill, London, EC3V 3QQ. For more information go to www.rjs.co.uk