Dunedin Independent Acquired by Helvetia Wealth
By Dunedin Independent Plc, PRNESunday, September 12, 2010
Swiss Acquisition of Scotland's Largest Privately-Owned IFA Firm
EDINBURGH, September 13, 2010 - Zurich-based Helvetia Wealth has expanded its influence in
Scotland with the acquisition of Dunedin Independent, Scotland's largest
independently-owned firm of IFAs established in 1994. Ranked in the top 100
wealth management companies in the UK, Edinburgh-headquartered Dunedin
specialises in providing bespoke investment management to HNWI throughout
Scotland and elsewhere in the UK. Funds under management now exceed
GBP350-million.
"With offices also in Liechtenstein, Geneva, London, Hamburg,
Mauritius, Dublin and Glasgow, Helvetia Wealth AG now has an increased asset
base of CHF 1.5-billion, with the UK earmarked as one of the group's key
markets," reveals Helvetia CEO Kamil Stender.
"We are now able to boast over 100 finance professionals based
in our three UK offices in London, Glasgow and Edinburgh. We anticipate that
our proposition of international fund management centred in Switzerland with
access to Swiss wealth management services will prove attractive to Scottish
HNWI investors and that the new UK business will grow substantially in spite
of uncertain market conditions at present," he adds.
"Investors throughout Europe are apprehensive at the moment as
a result of increasing fiscal pressures in their respective countries. In
turn, this has proved to be motivational for the wealth sector intent on both
fund preservation and future growth," says Mr Stender.
Dunedin Independent plc MD Yuill Irvine is able to confirm the
advantages and benefits of the merger for Dunedin clients. "The enlarged
group features two prominent IFA firms in Scotland, Dunedin Independent plc
and City Gate Money Managers. In addition, Helvetia owns a controlling stake
in London-based TAM Asset Management with a London Stock Exchange brokerage
licence allowing us to execute our own trades faster at better margins. The
amalgamation will introduce a range of cost attractive synergies for Helvetia
and attractive efficiencies for all three firm's clients as well as offering
our clients access to Swiss banking facilities" explains Mr Irvine.
Helvetia Wealth was established in 2005 with funding to meet
the object of identifying and acquiring potential growth companies throughout
Europe, but particularly in the UK. However, its licence authorises it to
operate in all European Union member states. It is now one of the leading
asset management firms in Europe with the ability to offer Swiss investment
solutions to UK clients.
In conclusion, Helvetia's Vice CEO Guy van der Walt welcomes
Dunedin Independent plc, its clients and their wealth into the Group. "Our
market share as a premium Swiss-based provider of onshore wealth management
services has risen again. And this is especially important against a
background of poor performance by competing firms and an adverse economic
climate, which effectively gives us more growth opportunities as a young and
vibrant new player."
A team from leading national law firm HBJ Gateley Wareing acted on behalf
of the shareholders of Dunedin Independent. David Kirchin a corporate partner
with HBJ Gateley Wareing said:
"This was a challenging but incredibly rewarding project to work on and
we were delighted to act on the combination of the businesses."
About Helvetia Wealth AG
Helvetia Wealth AG is a Zürich-based, independent wealth
management boutique. Our clients are global private investors with liquid
assets in excess of CHF250,000. Family Office services are available for
clients with wealth in excess of CHF10M.
Employing the latest methodologies in wealth management, we
are well positioned to service the rapidly growing demand for wealth
management services. This demand is the result of globalisation and the
increased prosperity it engenders. There are now in excess of 7.6 million
High Net Worth Individuals (HNWI) worldwide. Since 2002, this market has
grown at a rate of 7.5% p.a. And total assets under management now exceed
CHF36 Trillion.
Further information from Michael Westmacott on +44-131-319-1477,
compropr@btconnect.com .
Or Yuill Irvine of Dunedin Independent on +44-131-477-8899 or Kamil
Stender at Helvetia Wealth at k.stender@helvetia-wealth.com.
Further information from Michael Westmacott on +44-131-319-1477,
compropr at btconnect.com . Or Yuill Irvine of Dunedin Independent on +44-131-477-8899 or Kamil Stender at Helvetia Wealth at k.stender at helvetia-wealth.com.
Tags: Dunedin Independent Plc, Edinburgh, September 13, Switzerland, United Kingdom