Moneygate will now take total responsibility for the compliance and advice delivered by the existing Stonebridge wealth management advisers.
Moneygate will also be responsible for the advisers’ training and ongoing CPD needs, plus it will be developing their services through areas such as wraps and platforms.
The new venture will be branded, Cathesis Wealth Management, and will work closely with Stonebridge Group Network members to enhance their proposition to clients.
Stonebridge Group will continue to support the wealth advisers in terms of lead generation, sales support, branding, marketing and business development.
Both Stonebridge Group and Moneygate are committed to growing and developing the wealth management proposition and are looking to increase the number of advisers who will benefit from this unique arrangement.
Richard Adams, Managing Director of Stonebridge Group, commented:
“For Stonebridge Group we have looked to partner with an expert in its field, and this is certainly the case with Moneygate and its wealth management offering.
"Our existing wealth managers will benefit from the systems and controls Moneygate have in place plus they will be developing their own skills and service through Moneygate’s training opportunities. Stonebridge will continue to be heavily involved providing our own support in areas such as marketing, lead generation and business development.
"The two companies combined are able to offer a market-leading wealth management offering and we believe this will be attractive to those wealth managers looking for such support.
"Our intention is to grow this offering and we would be interested in speaking to any managers who want this ‘best of both worlds’ proposition.”
Dennis Reed, National Sales Director at Moneygate commented:
"We are delighted to have completed this deal as it represents a significant and strategic part of our build plan.
"The Moneygate team have been very impressed with the Stonebridge business and, as well as the significant common ground between the two companies, we also look forward to working with an especially strong management team.
"We fully intend to support the growth of Cathesis Wealth Management through the extension of our technology platform and also by leveraging our process capability to ensure we enhance efficiency."
