Fylde stockbrokers pass the £5bn marker

Whitehills steelwork going up 2015
Whitehills steelwork going up 2015
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A Fylde coast stockbroker has hit its target for 2015 by passing the £5bn barrier.

Whitehills-based Hargreave Hale said today that its assets under management (AuM) have exceeded £5bn, following significant recent growth across the UK.

The investment manager’s AuM stood at £1bn in 2010, and has more than doubled from £2.2bn in 2013. The firm also has in excess of £800m in assets under administration.

Hargreave Hale said its growth had been driven by organic inflows and a strategic regional expansion.

It opened new offices in Norwich and Nottingham earlier this year, following the successful establishment of a York branch in July 2014. Since launch, the York office has attracted more than 400 new clients.

The firm’s success has led it to expand many of its regional hubs, moving to a new office in Worcester in January 2015, where it has subsequently hired four new investment managers and seen assets grow by £70m to £200m. This is expected to increase further in the coming months.

Hargreave Hale is also investing in custom-built new premises for its Blackpool headquarters operations, currently scheduled for completion in spring 2016. Steelwork for the new purpose-built building is now going up at the Whitehills Business Park site.

The team will be recruiting a number of front and back office staff as part of the relocation to match the demand Hargreave Hale is seeing in the North West.

Stuart Brookes, joint managing director, said: “Surpassing £5bn in assets under management is a significant milestone for us, and one that we are pleased to reach while maintaining our client-first ethos.

“Over the last two to three years we have seen some significant shifts in the industry, most notably with competitors scaling back the bespoke services they offer to their clients. We are committed to delivering tailored financial solutions, regardless of how much money someone has, and it is this committed approach that has driven like-minded wealth managers to join us, and fuelled the growth of our business.”