20 May Press release – CDC Wealth Management awarded Discretionary permissions – May 2013
North East based financial advice firm, CDC Wealth Management, has recently been granted discretionary investment permissions by the Financial Conduct Authority (FCA).
Discretionary Investment Management can be simply defined as “an account in which an investment manager makes the buy and sell decisions without referring to the client for every transaction. The manager, however, must operate within the agreed upon limits to achieve the client’s stated investment objectives.”
CDC was founded by experienced High Net Worth Independent Financial Advisers in 2006, as it was felt that an opportunity existed to provide a unique and highly personalised service around the core values of integrity, trust and service.
Alister Gaines, Investment Director explains, “Since the business was launched CDC has offered an advisory service which means that before making changes to a client portfolio we must seek formal agreement, however having successfully managed investments through Model portfolios for a number of years, the natural progression was to apply for discretionary permissions”.
“We have worked hard to ensure we have the necessary processes in place to manage our client portfolios on a discretionary basis. This culminated in a lengthy application during which the FCA assessed the expertise of the investment committee, reviewed internal systems and controls as well as ensuring that we have the necessary capital levels in order to meet liquidity requirements”, says Alister.
CDC have partnered with the Standard Life Wrap platform to provide custody and dealing arrangements and will over the coming months meet with existing clients to discuss how this new service may be of benefit to them.
Alister continues “We believe that this enhancement to our services is welcomed by our existing clients and current professional introducers and added to the recent award of Corporate Chartered Status proves CDC’s commitment to developing our business and the range of services we offer. Very few smaller advice firms have the necessary expertise to be able to offer discretionary management, the fact that we are able to do this ensures our overall proposition is very compelling indeed”.
Notes to editor
CDC Wealth Management – CDC is a Wealth Management company offering bespoke financial solutions to HNW and UHNW individuals. The head office is the Business and Innovation Centre, Wearfield Enterprise Park East, Sunderland but the firm also has a presence in Edinburgh through a ‘virtual’ office. CDC was founded by Phil Cain and John Dixon in 2006.
See our website at: www.cdcwm.com