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Wealth Club acquires Clubfinance

VCT and EIS tax relief


Wealth Club, the dedicated investment service for HNWs, has acquired Clubfinance, the execution-only discount broker.  The acquisition will form what it believes to be the UK’s largest investment platform for high net worth and experienced investors.

Clubfinance has an extensive customer base across its EIS, VCT, investment, pension and stock-broking intermediation offering. The business has grown strongly since its formation in 2002, becoming one of the UK’s largest execution-only VCT brokers.

Wealth Club said that its core footprint in the VCT, EIS and IHT space will be further strengthened, increasing its overall client base to in excess of 8,000 and assets under influence to over £435 million. It also declared that the transaction demonstrates Wealth Club’s long-term commitment to providing sophisticated wealth management solutions and firmly establishes the company as the number one platform in tax-advantaged investment intermediation.

Existing Clubfinance clients will be able to access improved investment information, research and exclusive deals. In addition, they will be able to apply online for VCTs and EIS and be able to see all new investments in one place on Wealth Club’s online portal.

Adalou Capital Advisors acted as exclusive financial advisor to Wealth Club in connection with the transaction.

CEO and founder of Wealth Club Alex Davies said: “We are delighted to have reached this agreement that will see Clubfinance being integrated into Wealth Club. Clubfinance fits perfectly with what we do and the acquisition supports our progression towards becoming the investment platform of choice for HNW and experienced investors, with best-in-class service, choice and research.”

“We believe with the pension restrictions beginning to bite as well as the new dividend tax and the crackdown on buy to let, demand for the products we offer (which is already very strong) is about to rocket. We look forward to helping HNW and experienced investors identify the best options, and making it much easier for them to apply and monitor their investments.”

Director of Clubfinance David Scrivens said: “The pace of technological and regulatory change has been fast over the past few years and we expect this trend to continue. Wealth Club has embraced technology and is resourced to keep up with regulatory change. It has also been extremely good at providing clients with exclusive deals and information to help them make decent investment decisions for themselves. We felt that combining the scale and success of Clubfinance with the strategic might of Wealth Club was in the long term best interests of our clients.

“Clubfinance clients have come to expect a high level of customer service and we feel that Wealth Club could not only match this, but actually exceed it by combining great service with the latest technology and helpful investment information. A good example is how Wealth Club has invested in online applications for VCTs and EIS which gives their clients an edge on getting into smaller offers that close within hours of opening. In addition on their website they have reviews and fund manager interviews for nearly all the products on offer which helps clients to decide which offers are most appropriate for them.”

Clubfinance will be run from Wealth Club’s head office in Bristol and the Company will be led by Chief Executive and Founder Alex Davies. All existing Clubfinance employees will be transferred to Amberside Financial Ltd, which, amongst other things, provides services to Amberside Capital Ltd (an FCA-regulated fund manager), and Amberside Energy Ltd (a developer and asset manager of energy schemes), which is not part of the deal.

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