As investment management firm Rathbones celebrates the 5th anniversary of the opening of its Newcastle office, we continue to build on this success with significant additions to our team – most recently with David Stangroom, who has joined from Coutts as the manager of the financial planning team for the Northern offices.
David is a fellow of the Chartered Institute for Securities & Investment (CISI), with 27 years’ experience in the financial services sector. He previously worked for Standard Life in Newcastle and Manchester, before heading up the Northern region for the Co-op Bank IFA. Most recently, he spent seven years at Coutts as a specialist financial planning partner.
David’s appointment follows hot on the heels of investment director Andy Webb, who joined the firm from Brewin Dolphin last summer. Andy is also a fellow of the CISI, with 27 years’ industry experience. He previously worked for Barclays Bank before joining Brewin Dolphin in 1996.
In describing his decision to join Rathbones, Andy noted Rathbones’ commitment to putting “bespoke and tailored service at the heart of everything it does”, which he says is becoming increasingly rare and invaluable, especially in these times of heightened economic uncertainty.
Based on Grey Street, Rathbones’ office has made a big impact on the North East’s financial scene since opening in 2013. Last year the office passed the £400m mark for funds under management, and staff numbers have increased from seven to 15, cementing its position as an established and growing business in the region.
David was appointed to enhance Rathbones’ financial planning services for clients in the North and Scotland.
He says: “It was not a difficult decision to move to Rathbones as it has a fabulous brand.
“I was even more impressed with the investment proposition than expected. The quality of the financial planning team in Newcastle is of the highest standards I have come across. It’s a pleasure to work with the entire Newcastle team, under Nick Swales’ dynamic leadership.”
Noting a background of significant growth for Rathbones, both nationally and in the North East, Nick – regional director and head of the Newcastle office – says: “We are delighted that Andy and David, who bring with them a huge amount of client and investment experience, have decided to join us at this exciting stage of our development. We continue to see new client opportunities – individuals, pensions and charities – where people value a tailored approach with direct access to the person making decisions about their wealth.
“Business owners, executives and others with wealth have responded very positively to our proposition, and we are sure that Andy and David will help us build on this success over the next five years and beyond.”
Andy says that since joining Rathbones, one of the things that has impressed him has been the quality of Rathbones’ in-house systems and infrastructure, “which means we can continue to provide a truly bespoke discretionary managed service to our clients, rather than relying on model portfolios”.
Looking ahead to the next five years, Andy says: “This office has gone from strength to strength in a very short period of time, and I’m looking forward to being a part of this continuing growth trajectory.”
Rathbones is also committed to supporting the development of young people into the next generation of top talent through an apprenticeship programme that was launched at the Liverpool office in 2013. The success of this scheme led to the business doubling its apprenticeship intake in 2017. Locally, the Newcastle office has been able to support this venture by employing Adam Richardson who hails from South Shields. Adam has now completed his apprenticeship, is a full-time employee and recently completed professional qualifications in the operational side of investment management prior to starting on the equivalent qualifications in investment advice.
The value of investments and the income from them may go down as well as up and you may not get back your original investment.
Rathbone Investment Management Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office: Port of Liverpool Building, Pier Head, Liverpool L3 1NW. Registered in England No. 1448919. Rathbone Investment Management Limited is part of Rathbone Brothers Plc. Head office: 8 Finsbury Circus, London EC2M 7AZ.