Titan Wealth acquires Baggette Asset Management

PRESS RELEASE

4 July 2022

Titan Wealth acquires Baggette Asset Management

Titan Wealth Holdings, (“Titan Wealth” or the “Group”) today announces the acquisition of Baggette Asset Management Ltd (“Baggette”) as part of its ongoing strategy to bring a new proposition to the wealth and asset management sector.

Baggette is a Poole-based discretionary fund manager, launched in 2017, and has assets under management (AUM) of c.£180m. The deal adds a high-quality fund of funds capability to the Titan Group through Baggette’s Mazarin Fund range, enabling further diversification of Titan’s offering to its end clients. As part of the agreement, Titan and Baggette & Company Wealth Management (BWM) will form a strategic partnership, with Baggette Wealth Management acting as retail distribution partner.


James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth said: “The acquisition of Baggette allows us to extend the range of funds we offer through Titan Asset Management by incorporating the Mazarin Funds into the fund portfolio offering alongside the existing ACUMEN funds and range of MPS.

“Since Titan Wealth launched in June 2021 with the acquisition of two leading investment and wealth management businesses – GPP and Tavistock Wealth Limited – we have been on a journey to reform the sector. Following the acquisition of Cardale Asset Management earlier this year, the acquisition of Baggette marks another key moment in our journey to providing better integration and flexibility to investment managers, IFAs and end investors.”

This acquisition brings Titan Wealth’s total AUM to c.£5.2bn

Titan Wealth was advised by Gateley Legal and supported in its due diligence by RSM and TCC.

Titan completes its purchase of Cardale

Following our announcement in February that we had agreed terms to acquire Cardale Asset Management, Titan Wealth is delighted to announce that following receipt of FCA approval; Cardale today became a Titan group company.

Moving forwards, Titan will work closely with Cardale to maximise business synergies, introduce new and innovative product solutions; in so doing, bringing added value to existing and future clients.

Titan Wealth Outlines Future AuM Ambitions

Tom Wooders, Group Head of Sales for Titan Wealth speaks exclusively with WealthBriefing about Titan’s plans to grow to £30 billion in AuM over the next five years.

Click the following link to read the full article. https://www.wealthbriefing.com/html/article.php?id=194550#.YoZx0nXMLrd

WealthBriefing European Awards

It was a busy night for Titan Wealth at the 2022 WealthBriefing European Awards. Titan Asset Management won the award for ‘Most Innovative Thematic Proposition’ and Tom Wooders, Group Head of Sales representing Titan Wealth Solutions presented two awards – Alternative Investment Manager (Bank/Institutional) and Blockchain-based Sourcing Solution.

Wealth Managers Embracing Outsourcing Outperform

PRESS RELEASE

London, 29 March 2022

Wealth Managers Embracing Outsourcing Outperform

Titan Wealth Solutions, a Titan Wealth Group company, has today published the findings of a report assessing the impact of outsourcing on a wealth managers’ scalability and profitability. Entitled “The link between outsourcing, profit and scale” this report, which was compiled by Compeer, a data provider to the wealth management industry, finds that over the past five years wealth managers with an outsourcing model have outperformed those which retained their in-house technology and operations infrastructure, both in terms of assets and revenue growth.

According to the report, when asked about the benefits of an outsourced business model, 83% of wealth managers who participated believe outsourcing can provide a strategic advantage. By providing business expertise and specialist technology and in allowing the wealth manager to focus on value-added services for the end client without distraction by administrative tasks, outsourcing provides both cost and operational efficiencies. The report also suggests a reticence on the part of wealth managers to fully embrace outsourced solutions and to reallocate resource away from traditional in-house cost centres which are driving up costs.

Additional findings include:

Tom Wooders, Group Head of Sales at Titan Wealth said: “Our report clearly highlighted the appetite among wealth managers, post-Covid, to embrace the benefits of outsourcing in terms of digital technology innovation, and increased productivity via end-to-end process automation. Selecting an outsource partner who can offer ease of integration and an appreciation of the wealth manager’s business imperatives are now seen as key to achieving future scalable business growth.”

Titan Wealth Holdings Acquires Cardale Asset Management

PRESS RELEASE

London, 22 Februay 2022

Titan Wealth acquires Cardale Asset Management

Titan Wealth Holdings, (“Titan Wealth” or the “Group”) today announces the acquisition of Cardale Asset Management, (“Cardale”) as part of its ongoing strategy to bring a new proposition to the wealth and asset management sector. The acquisition is subject to FCA approval.

Based in Harrogate, North Yorkshire, Cardale is an independent investment management business, with turnover of £16mn and EBITDA of £9.4mn (for FY 2021), and provides portfolio management, stockbroking and financial planning services to private clients. Since its launch in 2003 Cardale has seen impressive and sustained growth, reaching £1.5bn in assets under management (AUM) which it manages for approximately 3,500 clients, and employing circa 70 financial and investment professionals under the leadership of a highly experienced Board.

James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth said: “We are delighted to welcome the team at Cardale to Titan Wealth. Cardale is a highly profitable and well-respected business with a focused and proven investment process that consistently delivers outperformance to its client portfolios. Cardale will form a key part of Titan’s central investment proposition and enhance the Group’s distribution capabilities, providing Titan Wealth with a significant presence in the North of England, making it an excellent strategic, geographic and cultural fit for both parties.

“This marks another important milestone for Titan Wealth in our journey to drive reform of the sector, to create value and provide more integrated and flexible services to investment managers, IFAs and clients and we are excited by the future growth opportunities.”

Titan Wealth launched in June 2021 with the acquisition of two leading investment and wealth management businesses – GPP and Tavistock Wealth Limited. The acquisition of Cardale is anticipated to double Titan Wealth’s revenues and will also support its continued growth towards meeting its target of £20-30bn in AUM within four years of launch.

Andy Tod, CEO of Cardale said: “Having established Cardale in 2003 and grown the business organically since inception, now is the right time to find a partner with the expertise and reach that will take us to the next level and ensure we continue to deliver a compelling offering for our existing and prospective clients. In Titan Wealth we have found a highly complementary partnership with strong cultural alignment that will drive growth in our client base and distribution capabilities, allowing us to continue to invest in our operations and client service. It is a testament to the positivity associated with the acquisition that all existing Cardale employee shareholders will be reinvesting in the new business. We are very much looking forward to working with the team at Titan Wealth.”

The acquisition is expected to complete in March/April 2022, subject to regulatory approval, and after which Titan Wealth will have AUM of £5.2 bn.

Cardale will operate under the Titan Wealth holding group and retain its existing model, leadership and brand.

Titan Wealth was advised by Spencer House Partners, Gateley Legal, and BDO.

Titan Wealth Appoints Tom Wooders As Group Head Of Sales

PRESS RELEASE

London, 8 February 2022

Titan Wealth appoints Tom Wooders as Group Head of Sales

Titan Wealth Holdings (Titan Wealth) is pleased to announce that Tom Wooders has been appointed Group Head of Sales, responsible for sales across Titan Wealth’s business as it progresses its strategy to consolidate across the wealth management sector.

Bringing nearly twenty years of sales expertise in the financial services industry, Tom will be responsible for managing all business origination and commercial proposition development across the full range of Titan Wealth’s businesses; Titan Asset Management, Titan Wealth Solutions, Titan Platform and GPP Clearing.

Previously Head of Sales at both Titan Wealth Solutions and GPP, Tom has significant expertise in the wealth management sector and has managed sales and relationships across a broad spectrum of institutional clients including wealth managers and asset managers, advisory firms and funds distributors, private banks and family offices, plus institutional and private client brokers.

Prior to joining Titan Wealth, Tom worked in State Street’s Strategic Solutions where he was responsible for new business development across State Street Global Services, Global Markets and Global Exchange business lines. Before this, Tom spent seven years at JPMorgan, working as an Executive Director within its Markets and Investor Services division. Tom was also previously UK Head of Sales at Pershing and Sales Director at Broadridge.

Tom Wooders, Group Head of Sales at Titan Wealth said: “I am delighted to be taking on this new and exciting role. I look forward to continuing to work closely alongside James and Andrew to grow the overall business of Titan Wealth and to realise the many exciting opportunities we and the rest of the Titan team have identified across the different market segments we support.”

James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth Holdings said: “Tom’s impressive track record and broad industry network makes him an invaluable asset and he will be able to bring this experience to bear across all our platforms and services in his new role.”

Titan Wealth Holdings Launches With Two Acquisitions

PRESS RELEASE

London, 14 June 2021

Titan Wealth Holdings launches with two acquisitions

Titan Wealth Holdings Limited (“Titan” or “the Group”) today announces two acquisitions as part of its strategy to bring a new proposition to the wealth and asset management sector and offer higher quality, more flexible and independent services to investment managers and independent financial advisers (IFAs).

Titan is delighted to welcome GPP and Tavistock Wealth Limited (“Tavistock Wealth”) to the Group.

The acquisition of GPP, a leading financial services platform with £2 billion in assets under administration and which carries out in excess of 500,000 trades per year for its clients, will provide a full suite of execution, settlement and custody services to Titan, in addition to its institutional clearing and custody business. GPP’s platform harnesses state of the art digital technology and has married the modernity of its client-facing technology with the established strength and scale of its proprietary back-office infrastructure. This acquisition will enable Titan’s existing Discretionary Fund Managers (DFMs) to scale, and allows its investors and intermediaries to have access to better quality and more cost-effective services.

Tavistock Wealth, the multi-asset manager of Tavistock Investments Plc, (“Tavistock”) is a specialist DFM with in excess of £1bn in assets under management for retail clients and a market leading investment track record and ESG capability. As part of the agreement, Titan and Tavistock will form a 10-year strategic partnership, with Tavistock acting as retail distribution partner and retaining Titan as the investment manager for its centralised investment proposition. This combination will enable Tavistock to accelerate the growth of its wealth management franchise over the long-term, both organically and by acquisition.

The acquisitions are expected to complete in Q2 2021, subject to regulatory approval, and after which Titan will have assets under management and administration of £3 billion.

Both of the businesses will operate under the Titan holding group and retain their existing model and leadership.

Titan is in discussions regarding the acquisition of six other DFM’s which will create a unique integrated offering across the whole market.

James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth Holdings said: “We are delighted to welcome GPP and Tavistock Wealth to Titan and very much look forward to working with their existing teams. The DFM sector is currently in a state of flux with considerable dislocation and outdated processes as technology and client demand evolve ever more quickly. Against this backdrop, we have the opportunity to drive reform in the sector, through leveraging new technologies and broadening distribution channels to deliver value for intermediaries and institutional clients. With the market ripe for consolidation, we have ambitions to grow rapidly and see exciting opportunities in the coming months as we target £20 – £30 billion in assets under management over the next five years.”

Julian Parker, CEO of GPP, said: “We are proud of the platform we have built, the recognition we have received and the reputation we have established as the go-to financial services provider for clients who require a seamlessly integrated range of services and value high quality service. This important partnership with Titan will accelerate our organic growth trajectory whilst ensuring that our strategy remains true to our roots and we can stay focused on providing state-of-the-art technology and wealth management services to our clients. I am looking forward to working with James, Andrew and the rest of the Titan team.”

Brian Raven Chief Executive at Tavistock added: “This is a great opportunity for both Tavistock and Titan. Whilst Tavistock Wealth is becoming part of Titan, we look forward to continuing to work closely with our highly successful investment team. The partnership endorses our corporate strategy as we seek to significantly increase the scale of our wealth management business in order to deliver maximum value to our shareholders.”

Ends

 

Enquiries

 

For media:

Brunswick Group: Simone Selzer/ Emily Murphy: 020 7404 5959 / [email protected]

 

Titan Wealth Holdings

James Kaberry / Andrew Fearon: 01423 368257/ [email protected]

 

Notes to editors

About Titan Wealth Holdings

Titan Wealth Holdings is a discretionary fund management / wealth and asset management business. Targeting £20-30 billion in assets under management over the next 3 to 5 years, Titan aims to bring high-quality execution and administration to the asset and wealth management sector. Titan provides execution, custody, clearing and wealth management services to small and medium sized broker dealers, proprietary traders, intermediaries, family offices and wealth managers. As a multi asset manager, Titan provides independent financial solutions to financial advisors, family offices, retail clients and institutions via a network of trusted intermediaries.

Titan is led by a highly experienced management team with deep expertise across financial services and is supported by capital partners Ares Management, Maven Capital Partners and Hambleden Capital. Its management team comprises James Kaberry, an experienced entrepreneur and founder of Pantheon Financial Management, which grew to be one of the UK’s largest financial advisory firms; Andrew Fearon, who has been active in UK wealth management and a founder of one of the biggest UK IFA consolidators, as well as raising funds for other UK IFA consolidators and Julian Parker, founding partner and CEO of GPP.

About GPP

GPP was established in 2008 when its founding partners identified a gap in the market to offer clearing and custody solutions away from the traditional banking providers. The cornerstones of this service are GPP’s proprietary back office processing platform (GBO), in-house Operations and Client Service teams, and a series of relationships with tier 1 banks, to provide clients with access to global settlement and custody of assets on an intermediated, scalable basis.

GPP launched its wealth platform in 2017 as a streamlined offering combining cutting edge digital technology and the established strengths of GPP’s global execution services and proprietary back office. Operating as a single, integrated platform for the full investment lifecycle, it provides GPP’s clients with a comprehensive and nimble white-labelled solution which can be easily modified for a bespoke service.

GPP has a balance sheet of £37mm (as of April 2020) and employs 110 staff in 3 locations, including 30 in-house technology staff plus a further 45 Operations and Client Services personnel including a dedicated Wealth Services operations hub in Cheltenham.

About Tavistock Wealth Limited (“Tavistock Wealth” or “TWL”)

Tavistock Wealth manages over £1 billion of assets on behalf of retail clients, providing institutional quality portfolio management at a retail price. Tavistock Wealth is a subsidiary of Tavistock Investments Plc, the UK wide financial services group.

John Leiper is the Chief Investment Officer of Tavistock Wealth and carries direct responsibility for all investments in the Centralised Investment Proposition at the firm. Together with the research and investment team, he manages both the ACUMEN Portfolios (UCITS Funds) and the Model Portfolio Service.

© BRUNSWICK GROUP 2021

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