Investment platform Third Financial (Third) has partnered with Irwin Mitchell’s Asset Management team for a further six years, as the latter looks to grow its wealth management offering.
IM Asset Management Ltd (IMAML) has been a client of Third since 2016, with the initial period of the partnership focused on consolidating disparate systems onto Third’s all-in-one solution. Third has helped Irwin Mitchell reach a point where it can now focus on growth.
Traditionally known for its personal injury claim work, IMAML currently has c. £1bn assets under management (AUM) and has made a strategic decision to extend its wealth management offering to a broader client base, as evidenced by its recent announcement of a deal to acquire Leeds-based wealth manager Andrews Gwynne and the 2022 acquisition of Cheshire-based TWP Wealth.
David Sollitt, IMAML’s chief operating officer (COO), comments: “We have plans to significantly grow our business over the next few years and it’s really important to us that our clients receive an excellent service throughout. Overhauling our systems in partnership with Third Financial has been key in helping us simplify our operating model, preparing us to scale up while continuing to focus on our clients.”
IMAML uses Third’s front-to-back software platform, Tercero, to manage and invest client funds. This means portfolio managers are using the same system to manage investment strategies as operations teams who are settling trades and transactions.
Ricky Ali, Third’s commercial director, comments: “You need strong foundations to build on, and wealth management and advisory firms looking to grow need to make sure their underlying systems are in good shape before they expand. Our work with Irwin Mitchell has been a huge success to date, and we’re pleased to be providing the innovative market-leading platform that helps them deliver outstanding client outcomes and stay ahead in a competitive wealth sector as they scale up.”
To date, coverage has appeared in the following publications:
- Professional Adviser: Irwin Mitchell AM inks Third Financial deal to expand its offerings
- Private Banker International: Wealth Manager seeks expansion with Third Financial
- Money Marketing - The Morning Briefing: In other news
- TheWealthNet: Wealth manager extends partnership with tech firm
Third Financial is the UK's leading investment platform for the thinking wealth manager. It brings together its own market-leading technology and the expertise of over 90 industry professionals within a culture of exceptional client service. It provides core processing, asset servicing and market connectivity for the management of over £50 billion of assets. It delivers a full digital experience to wealth managers and their clients with the reassurance of friendly and expert support when required.
IM Asset Management
IM Asset Management is part of the Irwin Mitchell Group and provides financial planning and wealth management services. It has c. £1bn assets under management and decades of experience in helping clients to manage their wealth including those receiving large personal injury settlements as well as general high net worth clients.
All financial and wealth management services are provided by IM Asset Management Limited which is regulated by the Financial Conduct Authority (FCA).