Titan Group CIO’s Monthly Insights May 24

Welcome to our CIO Monthly Insights update ‘The view from Wigmore Street’.

The May update provides investment feedback and opinions from the people responsible for heading up the investment of your wealth across the various businesses under the Titan Group umbrella. This does not represent ‘Titan house views’, rather it aims to give you an insight into the investment debates we are having internally across our various businesses.

We hope you find it interesting and informative.

Not a recommendation. Past performance is not a guide to future performance.

Titan Wealth acquires Wigmore Associates Wealth Management

15th April 2024 – Titan Wealth is pleased to announce that it has received approval from the Financial Conduct Authority and will shortly complete a deal for Loveday & Partners to become part of the Titan Wealth Group.  Loveday & Partners is an independent financial planning firm based in Norwich.  This brings Titan Wealth’s total AUM to £17.3bn.

Founded in 2010, Loveday & Partners has grown organically through word-of-mouth referrals, and has a long track record of delivering excellent results for its clients. The company’s directors and its team of advisers and administrators will stay with the business as part of the move. They will continue to advise on the c.£600 million of assets for their more than 1,000 clients – including families, pension funds, trusts and charities, throughout Norfolk.  Loveday & Partners works closely with its clients to deliver tailored financial advice covering savings, investments, pensions, estate planning and long-term care.

Loveday & Partners also has a strong commitment to investing in the local community, and actively supports a range of charities and social initiatives in Norfolk & Suffolk.  With a business built upon values of transparency, trust, and close client relationships, Loveday & Partners’ company culture is closely aligned with Titan Wealth’s overall vision for the group. 

As Loveday & Partners joins Titan Wealth it further expands their geographical footprint, significantly increasing Titan Wealth’s presence in the East of England. It also enhances Titan Wealth’s capacity to deliver comprehensive, integrated investment and platform services through its vertically integrated offering.

Andrew Fearon, Joint Group CEO & Head of M&A at Titan Wealth said: “Loveday & Partners joining the Titan Wealth Group is an exciting opportunity to expand our presence in the East of England and enhance the unique Titan Wealth vertically integrated offering.  Titan Wealth’s ambitious growth plans are testament to the group’s continued hard work over the last 12 months. We look forward to working with the L&P team.”

Mark Loveday, of Loveday & Partners said: “We are delighted to share the news of today’s announcement.  It has been clear to me from our early conversations that our businesses share many of the same values and ideals.  We are very much looking forward to working closely with our Titan Wealth colleagues over the coming months and years to enhance the service offering we are able to provide to our clients and to support our mutual growth ambitions.”.

Loveday & Partners joins Titan Wealth

15th April 2024 – Titan Wealth is pleased to announce that it has received approval from the Financial Conduct Authority and will shortly complete a deal for Loveday & Partners to become part of the Titan Wealth Group.  Loveday & Partners is an independent financial planning firm based in Norwich.  This brings Titan Wealth’s total AUM to £17.3bn.

Founded in 2010, Loveday & Partners has grown organically through word-of-mouth referrals, and has a long track record of delivering excellent results for its clients. The company’s directors and its team of advisers and administrators will stay with the business as part of the move. They will continue to advise on the c.£600 million of assets for their more than 1,000 clients – including families, pension funds, trusts and charities, throughout Norfolk.  Loveday & Partners works closely with its clients to deliver tailored financial advice covering savings, investments, pensions, estate planning and long-term care.

Loveday & Partners also has a strong commitment to investing in the local community, and actively supports a range of charities and social initiatives in Norfolk & Suffolk.  With a business built upon values of transparency, trust, and close client relationships, Loveday & Partners’ company culture is closely aligned with Titan Wealth’s overall vision for the group. 

As Loveday & Partners joins Titan Wealth it further expands their geographical footprint, significantly increasing Titan Wealth’s presence in the East of England. It also enhances Titan Wealth’s capacity to deliver comprehensive, integrated investment and platform services through its vertically integrated offering.

Andrew Fearon, Joint Group CEO & Head of M&A at Titan Wealth said: “Loveday & Partners joining the Titan Wealth Group is an exciting opportunity to expand our presence in the East of England and enhance the unique Titan Wealth vertically integrated offering.  Titan Wealth’s ambitious growth plans are testament to the group’s continued hard work over the last 12 months. We look forward to working with the L&P team.”

Mark Loveday, of Loveday & Partners said: “We are delighted to share the news of today’s announcement.  It has been clear to me from our early conversations that our businesses share many of the same values and ideals.  We are very much looking forward to working closely with our Titan Wealth colleagues over the coming months and years to enhance the service offering we are able to provide to our clients and to support our mutual growth ambitions.”.

Titan Wealth Group announces sponsorship of GB Sevens men’s and women’s teams

We have today announced our sponsorship of GB Sevens Rugby, becoming the Principal Partner and Main Shirt Sponsor of both the men’s and women’s teams for the 2023/24 and 2024/25 HSBC World SVNS.

Rugby Sevens is an established sport around the world with great heritage and tradition. In recent years the short form of the game has attracted new audiences around the world and helped to develop rugby as a truly diverse and inclusive sport.

Titan Wealth has an ambitious strategy for growth over the next 3 years, both in the UK and internationally. This ambition is mirrored by GB Sevens Rugby and the Performance3 management team who have been appointed by the Home Unions of England, Scotland and Wales, to oversee the growth and development of the GB Sevens programme. The partnership announced today is an incredibly exciting joint opportunity for both GB Sevens and Titan Wealth.

Group Chairman and joint CEO of TITAN, James Kaberry said:

“Sport is a great connector in business. Titan and all of our wealth management businesses are huge sports fans – particularly when it comes to rugby. We are extremely excited to be partnering with GB Sevens as we both look to grow our talent pathways. This partnership will help us grow on the domestic and international stages, underpinning our plans for growth over the next two years and beyond.”

Joe Lydon of Performance3, who spearhead the performance management and strategic alignment of the GB Sevens programme in affiliation with England (RFU), Scotland (SRU) and Wales (WRU) Rugby, said:

Great Britain Sevens are proud to have partnered with Titan Wealth as Principal Partner and Main Shirt Sponsor of the women’s and men’s GB Sevens squads in this exciting year of Sevens Rugby which culminates with the Paris Olympic Games.  

“The GB Sevens programme, the ambitions for the revamped HSBC SVNS Series and the Rugby Sevens pathway, align perfectly with the growth and development ambitions of Titan Wealth. We are looking forward to building a strong partnership as we provide and support on and off field opportunities for our respective teams and their growth“.  

Titan Wealth Closes Partnership Transaction with Parthenon Capital

Titan Wealth [Titan] finalised the closing of its previously announced partnership transaction with Parthenon Capital [Parthenon]. Parthenon will provide access to additional resources as Titan executes on its strategy to provide integrated financial advice, investment management, and platform services through a comprehensive client-to-custody strategy.

Parthenon is a leading growth-oriented private equity firm with a long track record of building franchise companies in the wealth management sector. Parthenon acquired a majority stake in Titan.

Titan has also completed the previously announced acquisition of Telford Mann, a leading financial advice business based in Kettering. The Telford Mann transaction represents another important milestone as Titan builds out its financial advice capability, a key component of the firm’s client-to-custody strategy.

TITAN WEALTH ACQUIRES ASPIRA CORPORATE SOLUTIONS

Titan Wealth Holdings (Titan) has today announced that it is acquiring Aspira Corporate Solutions Limited (subject to regulatory approval).The acquisition increases Titan’s AuM by £4bn to a total of £16.6bn.  

Established in 2000, Aspira Corporate Solutions has become a driving force within the independent financial advisory and employee benefits sector. Based in Bristol, it draws upon years of expertise to offer valuable financial advice via its team of 50 financial and corporate advisors to over 15,000 private and corporate clients across the UK. Aspira’s business model centres on providing expert, personal advice to its clients, built on strong, long-term relationships. It works closely with its diverse array of clients to ensure the advice it provides is constantly adapting to changing external and internal circumstances.

Aspira is a highly-regarded and successful financial advice business, and the acquisition will complement the existing retail offering of the Titan group and elevate its overall position in the market. Titan is already in a strategic partnership with Aspira to develop the investment proposition and manage the Aspira Model Portfolio Service investments.

Derek Miles, CEO of Aspira will become CEO of the financial planning division of Titan, with the remit to oversee the financial planning business within the Titan Group focussing on providing existing and new retail and corporate clients with financial advice and solutions.

Andrew Fearon, Joint Group CEO and Head of M&A at Titan said: “Aspira is an outstanding firm, which has been evident since our first meeting. This acquisition aligns with Titan’s growth ambitions, expands our financial advice offering and further develops the ‘Client to Custody’ offering, which is central to our overall corporate strategy.

“We are excited to work closely with Derek and the team at Aspira, to support them on their journey and to grow and develop Titan Financial Planning.”

Derek Miles, CEO of Aspira saidWe are delighted to be joining the Titan team, to further enhance the range of solutions we can offer our clients and solidify our market position.

It is clear from the many discussions we have had to date that Aspira and Titan are very much aligned in our shared vision of an innovative and integrated approach to financial advice. Today’s announcement marks a key step in our journey to enhance and improve our client proposition and brings with it lots of exciting opportunities which we will be working closely together to develop.

I am personally excited to take the Aspira team to such a forward thinking business and to join Andrew, James and the rest of the senior team at Titan to deliver on the fantastic potential of the expanding group”

The acquisition is subject to regulatory approval.

TITAN WEALTH REACHES CHANGE OF CONTROL MILESTONE
WITH PARTHENON CAPITAL

The FCA has authorised change of control between Titan Wealth Holdings (Titan) and Parthenon Capital (Parthenon), formalising the strategic partnership between the two businesses. Closing will occur later this month.  

Parthenon is a leading U.S. private equity firm with deep financial services expertise and a strong
track-record and reputation in the wealth management sector. Following closing Parthenon will become the majority shareholder in Titan.

Parthenon will provide Titan with strong financial backing and support its aim to deliver integrated financial advice, investment, and platform services through a comprehensive client-to-custody strategy. Access to additional capital will also help support Titan’s ongoing M&A activity.

Andrew Fearon, Joint CEO and Head of M&A at Titan said: “The change of control milestone cements our relationship with Parthenon. The deal supports our overall acquisition strategy and will be instrumental for our future growth plans as a business. Parthenon’s substantial expertise in growing and developing businesses will also be invaluable for Titan, as we continue with our growth plans.”

 Andrew Dodson, Managing Partner at Parthenon Capital said: “Titan is a fantastic business and the perfect investment for our first venture into the UK wealth market. From our many conversations with the team, it is clear that our strategic ambitions for the Titan business are very much in alignment. We look forward to working with the Titan team as they continue to build on the strong track record of growth and enhance the business’s unique, vertically integrated client-to-custody support.”

Titan Investment Solutions appointed to manage Tideway UCITS Funds ICAV

Titan Wealth have announced that the Tideway UCITS Funds ICAV has appointed Titan Investment Solutions as Investment Manager to the newly renamed Titan Hybrid Capital Bond Fund (the Fund). As a result, the investment team, which includes Peter Doherty and Chris Turdean, has joined Titan Wealth to manage and grow the Fund.

The Fund was incepted in August 2016 and has since returned 24.3% to investors and 11.7% over the last 12 months. It invests in high quality global issuers, lower down in the capital structure to achieve enhanced yield. It now boasts a Yield to Maturity of 8.8% and an Effective Duration of 5.2 years, positioning it well to prosper at the back end of the current rate hiking cycle. The Fund’s distributing share-class has provided investors with a distribution yield of 7.6% over the last 12 months (£6.64p per unit).

The Fund will be run by Peter Doherty, Head of Fixed Income and Lead Fund Manager. Peter has over 35 years’ experience in fixed income markets. He set-up the Tideway UCITS Funds ICAV and has been Lead Manager on the Titan Hybrid Capital Bond Fund (previously the Sanlam Hybrid Capital Bond Fund) since its inception in 2016.

Peter will be accompanied by Chris Turdean, Investment Associate. Chris has 5 years’ experience in fixed income and started his career working as Portfolio Manager Assistant on the Fund.

Paul Hunt, CEO Titan Asset Management, comments:

“We are thrilled to welcome Peter and Chris to Titan. The investment team have done a fantastic job of managing the Titan Hybrid Capital Bond Fund since its inception, bringing an impressive track record and the highest rating of 5-Crowns from FE fundinfo.

“As part of the Titan Investment Solutions team, Peter and Chris will play a key role in building out our in-house fixed income offering, with new and innovative products that meet the needs and requirements of Titan Group’s clients and the broader UK wealth management market.”

Peter Doherty, Head of Fixed Income, comments:

“It is exciting to combine the dynamic growth culture at Titan with an incredible opportunity set in the fixed income markets. We look forward to creating and managing differentiated fixed income funds and products for the benefit of private clients both within the Titan Group and across the wider UK Wealth Management and DFM markets.”    

Titan Wealth acquires Prism Financial Advice Ltd

Titan Wealth acquires Square Mile Investment Consulting and Research Ltd

Well established business with c. £2.6bn in MPS portfolios

27 June 2023 – Titan Wealth Holdings [Titan Wealth] announces it has acquired investment research and consultancy firm Square Mile, subject to regulatory approval.

Square Mile brings a wealth of expertise, including a 21-strong team of research analysts covering the universe of UK retail funds, an investment management team responsible for Square Mile’s range of MPS solutions and its consultancy services for financial intermediaries and institutions.  In Titan Wealth, Square Mile has secured a long-term shareholder, committed to growing and developing its range of client services enabling them to deliver enhanced customer outcomes, and helping to expand the firm’s market footprint.

The acquisition encompasses the c.£2.6bn in assets under management currently held within Square Mile’s MPS portfolios and will enable Titan Wealth to further expand its competitive, low-cost MPS proposition. Titan Wealth will also benefit from Square Mile’s broad industry relationships across the financial advice and asset management sectors.

Square Mile will continue to operate under its own brand following the acquisition and its management and wider team will remain in place both supporting and being supported by Titan Wealth in achieving its ambitions.

The acquisition takes Titan Wealth’s AUM to £12bn and strengthens the fully integrated client to custody solutions.

Andrew Fearon, Joint CEO & Head of M&A at Titan Wealth said: “Square Mile is a highly reputable business whose products and services integrate and align seamlessly with Titan’s. This latest acquisition further bolsters our aim to bring high-quality execution and administration to the asset and wealth management sector through our our client to custody solutions and services.”

Richard Romer-Lee, Square Mile’s CEO, said: ”This acquisition represents a very exciting opportunity for our clients, the business and our team.  The backing of Titan Wealth will help us strengthen and broaden our clients offerings, supports Square Mile’s long-term growth aspirations and opens new professional avenues for our staff within the broader group. Moreover, Titan Wealth and Square Mile have a close cultural fit with a client-centric approach and a focus on delivering superior customer outcomes and we are confident that this development will bring significant benefits to all.”  

The acquisition is subject to regulatory approval

© Titan Wealth Solutions 2024