Blacktower unveils centralised investment proposition

And hires ex-Scottish Life and Global Wealth Management Solutions veteran to run it

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International financial advice firm Blacktower Financial Management Group has rolled out a centralised investment proposition (CIP).

It will give advisers within the group and their clients a “transparent and flexible solution to fund and investment selection”, the firm said.

The CIP will also provide exclusive access to Blacktower’s discretionary fund management joint venture Nexus Portfolio Management, which is authorised by the Guernsey Financial Services Commission.

David Worthy has been named as head of the CIP and will be responsible for overseeing the proposition as well as liaising with Nexus PM, the Sicav fund suite and third-party external funds.

He has over 30 years of experience in the UK and international financial services industry. He started his career as a sales manager at Scottish Life in the UK, and then moved to Scottish Life International.

After that, he became a partner at Global Wealth Management Solutions, where he spearheaded the firm’s expansion into Asia, the Middle East and Europe.

Improve efficiency

Gavin Pluck, group managing director at Blacktower, said: “The addition of both the CIP and David Worthy’s expertise to the Blacktower Group is an exciting and significant development which will provide more structure to our existing investment framework and result in superior, consolidated reporting.”

John Westwood, group chairman at Blacktower, added: “The CIP will improve the efficiency of the fund selection process and improve our service offering, allowing us to truly focus on providing a bespoke, personalised experience for our clients.”

Ross Preston, director of Nexus Portfolio Management, said: “We look forward to working closely with David in order to roll out this comprehensive and value-add investment solution.

“We will work together to ensure the delivery of a robust and flexible product offering to Blacktower’s diverse client bank. The CIP adds great value to its client service offering and cements its position as a market-leading global wealth management firm.”

This is the not the first firm to set up a CIP service – as recently Parmenion and Redmayne Bentley have launched offerings to the financial adviser market.

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