Investment platform helps new wealth firm to £500m AUM

23 Nov 2022

Manchester-headquartered Luna Investment Management is among Third Financial’s clients committing to the long-term.

A UK wealth manager has grown its assets under management to more than £500 million with the support of investment platform Third Financial, becoming the North West’s Largest Independent Discretionary Manager.  One of a series of high-profile client renewals for the platform.

Luna Investment Management (Luna) first signed with Third Financial on a short-term basis in April 2020 and has now committed to a further five years of partnership. Luna, founded by experienced wealth managers Alex Brandreth and James Carter, has grown its asset base from zero to more than £500 million since launch.

Mr Carter said Third Financial had played a key supporting role in Luna’s growth. He said: “A high level of personal service, leading technology and the ease of implementation and integration are what attracted us to Third Financial in the first place. We see modern, user-friendly systems as important not just for client acquisition and retention, but also for the wellbeing of our team.

“During our sustained growth we have used Third’s technology, custody, and execution services, including for our investments in structured products. The relationship has been nothing but positive and we had no hesitation in renewing our contract.”

Third Financial, trusted by more than 70 wealth managers and IFAs, is on a mission to help advisers simplify and scale their businesses. The firm has also recently signed five-year renewals with AIM-listed wealth manager Kingswood, which manages and advises on more than £9 billion in client assets; Stafford-based high net worth-focused Sorbus Partners; and Fiske, a 1973-founded investment manager that has been working with Third Financial since 2015.

Ian Partington, Third Financial’s Group Chief Executive Officer, said: “We appreciate that during an economic downturn, firms and their clients are under pressure. Our aim is to support the firms we work with as efficiently as possible, so they have more time to focus on markets and client service.

“We still speak to a staggering number of firms running a shambles of multiple platforms, which involves dual-keying data and multiple log-ins. Lots has been written about how wealth managers are spending more on technology, but if you choose the right partner the return on this ‘spending’ comes back many times over.”

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