Wealth Club: Former Hargreaves Lansdown Duo Launch New High Net Worth Investor Service
Bristol, UK (PRWEB) February 03, 2016 -- Wealth Club - a new business aimed at high net worth investors - was launched at 9am on Monday 1 February 2016.
Co-founders are former Hargreaves Lansdown Director Alex Davies and Investment Manager Ben Yearsley - subsequently Head of Investment Research at Charles Stanley Direct - with three other former Hargreaves Lansdown colleagues.
Wealth Club specialises in offering tax-efficient EIS, SEIS, VCT and IHT products and other compelling investment ideas you are unlikely to find through a mainstream broker or platform.
The origins of the idea
As is so often the case with new ideas, the inspiration for the new firm came from personal experience. Alex Davies was himself the perfect prospect for such a service. Yet what he needed did not exist.
After leaving Hargreaves Lansdown - where he was responsible for growing their SIPP business from zero to 150,000 clients and £12 billion under management - Alex sought tax-efficient ways to invest his money in addition to his ISA and SIPP.
"I was really disappointed. Good-quality services to help high net worth investors with non-standard and tax-efficient investments were thin on the ground. It was really hard to get sound, unbiased information. This led to the idea of Wealth Club."
As Co-founder Ben Yearsley put it:
“High net worth investors are being attacked every step of the way and for more sophisticated investors there is a lack of quality impartial information. Wealth Club will fill that void - and there are some simple reasons why we believe its time has come.
“Recently the increase in dividend tax, restrictions on pension contributions and buy-to-let mean people - particularly the better off - are getting hammered from all directions.
“Where can they turn?”
Davies adds: “There are actually some very intelligent alternatives, which we have been researching for some months. These products provide some respite from this assault.
“Moreover, the interest in such products is already growing - even though the market is not served as well as we believe it could be. People are simply not being told what is available to them in clear, simple language.
“That is where we come in. We all worked before on complex and opaque products in a sluggish and complacent industry. We made those products simple, easy to understand and mainstream.
“Now we will do the same for these tax-efficient investments. And because of our previous experience we know exactly how.”
What the company offers
http://www.wealthclub.co.uk will feature those investment opportunities that cater for this growing audience.
In addition it will offer helpful guides such as "Tax-efficient investing for high earners" written by Ian Cowie, award-winning Sunday Times columnist.
Wealth Club will feature fully independent and impartial comment on markets and other investments.
Who is involved in this new venture?
Alex Davies was a board director at Hargreaves Lansdown responsible for growing its SIPP business from its start to being the largest direct SIPP provider in the UK with 150,000 clients.
There really is a parallel here as at the time SIPPs were a very niche product. He and his team – two of whom have joined him - launched them into the mainstream.
Ben Yearsley joined Hargreaves Lansdown in 1997 quickly moving on to Fund Research and PR. He's researched VCTs since 1998 and helped grow HL's share of the market from 3% to almost 20%.
Ben is regularly quoted in the press, radio and TV on investment matters. In 2012 he joined Charles Stanley Direct as Head of Investment Research.
The remainder of the team are all former Hargreaves Lansdown employees.
Media contacts
Ben Yearsley
Co-Founder and Investment Director
07980 211 193
0117 929 5111
[email protected]
Alex Davies
Co-Founder and Chief Executive
07791 735 772
0117 929 5110
[email protected]
Alex Davies, WealthClub Ltd, http://www.wealthclub.co.uk, +44 1179290511, [email protected]
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