New strategic partnership

London, 6th August 2019 – 08:00 UK Time

Pacific Asset Management (PAM), the core asset management business of Sir John Beckwith’s Pacific Investments Group, has entered into a strategic partnership with Zen Wealth LLP via its ownership of financial planning firm Chartered Financial Management (UK) Ltd (CFM(UK)). 

Zen Wealth, a chartered, award-winning Wealth Management firm based in London was founded by Patrick Murphy in 2012.  Patrick and his team will work with the enhanced resources of CFM(UK) and PAM to continue to develop its market leading holistic financial planning proposition.

Matthew Lamb, CEO of Pacific Asset Management said, “We are delighted that Patrick and the entire Zen Wealth team have decided to partner with CFM(UK) and PAM.  As we have said before “alpha” is often associated with the asset management industry, but, in many ways the most tangible “alpha” lies in the advice. Zen Wealth mirrors CFM(UK)’s advice for life commitment by using its outcome orientated approach to deliver on clients’ long term goals and objectives.”

Russell Butts and Jon Marshfield, Directors at CFM(UK) commented, “Zen Wealth are a close-knit team of highly qualified, knowledgeable and passionate people, sharing CFM(UK) and PAM’s client-first ethos, strong culture and values.  The entire group will greatly benefit from the additional financial talent, to ensure we continue to meet the needs of the ever-growing client base.”

Patrick Murphy from Zen Wealth said, “Since 2012 we have developed a very successful business by creating a range of well diversified portfolios, using a market cap weighted asset allocation approach and buying low cost funds that are rebalanced once a year. This simple approach has served our clients very well in the bull run that we have experienced since 2008, but we have felt for a while now, that we need to re-evaluate this approach.”

Murphy continued “By joining forces with CFM(UK) and PAM, we really do secure the future for our clients and our staff and provide ourselves with the right tools, needed to survive in the years ahead.”

Note to Editors

1.     Zen Wealth LLP

The Zen Wealth vision is to help its clients create and enjoy a lifetime of financial freedom and security and aims to be the pre-eminent financial planning and wealth management business in the UK. To fulfil this aim, Zen Wealth adheres to its client proposition, namely to help its clients to plan and achieve their financial and lifestyle objectives in the most tax efficient way, within their desired timescale and with the appropriate amount of acceptable investment risk.

Zen Wealth is an appointed representative of Best Practice IFA Group Ltd, which is authorised and regulated by the Financial Conduct Authority.

2.     Chartered Financial Management (UK) Ltd (CFM(UK))

In July 2018 PAM announced a strategic partnership with Chartered Financial Management (UK) Ltd (CFM(UK)) a successful UK financial advice business based in Somerset, South West of England.

CFM(UK) was established in 1998 and has assets under advice of over £250m, and the majority of its c.1,000 clients are also located in the South of England.

In addition to providing a full financial planning service, CFM(UK) offers a broad range of financial advice to corporate and private clients, from employee benefit solutions, including auto-enrolment, to advising on and arranging business and personal protection, retirement planning and tax efficient savings arrangements. 

3.     Pacific Asset Management

Pacific Asset Management (PAM) is the core asset management business of Sir John Beckwith’s Pacific Investments Group. Firmly established within the global business infrastructure of Pacific Investments, Pacific Asset Management is able to take a modern, unbiased approach to investing. PAM hired Matthew Lamb as CEO in late 2016, Matthew was formally Head of Distribution at GAM and Global Head of Liquid Alternative Investment Sales at Deutsche Asset Management.  PAM launched a range of risk rated blended multi-asset funds investing across active, passive and smart-beta strategies. These multi-asset portfolios allow PAM to bring institutional processes to retail clients.

PAM has also developed an ‘in-sourced’ investment proposition, which directly addresses many of the inefficiencies faced by Advisers. The solutions are built around technology and tailored to each firm, designed to ensure Advisers retain control, adding maximum value for both their clients and their businesses.

PAM’s single manager business focuses on high conviction investing in less efficient markets, where they believe active managers can outperform through their skills and expertise.  The firm currently offers Emerging Market Equity and G10 Macro Rates solutions.

PAM has seen net inflows in excess of $1.1bn across its range of solutions in just over 2 years.

4.     Pacific Investments Group

Pacific Investments Group was founded in 1994 by Sir John Beckwith CBE and Mark Johnson.The Group has four divisions which operate alongside each other:

Asset Management
The Pacific Investments Group has founded a number of highly successful asset management businesses over the last 20 years, including Liontrust, Thames River Capital, River & Mercantile, Nevsky Capital and Europa Capital. Asset management businesses previously built by Pacific Investments, currently manage over $50 billion in assets as stand-alone, independent businesses.

Real Estate
Sir John Beckwith has a 40-year track record in real estate, developing over 70 million square ft of real estate across the globe. In 1990 he sold his listed property vehicle London & Edinburgh Trust PLC for £510 million. Alongside a substantial direct property portfolio, real estate management companies created by Pacific include Europa Capital and Pacific Industrial & Logistics.

Financial Services
Pacific Investments has made a number of investments in the financial services industry, typically challenging the traditional banking models with a strong focus on cutting edge technology.  These include Zorin, a property finance vehicle (also backed by Marshall Wace Eaglewood) and Argentex, one of the UK’s leading foreign exchange companies which was admitted to AIM in June 2019, for an enterprise value of £120m.

Private Equity
Since its launch in 1994, Pacific Investments has made a number of global private equity investments across the leisure, media, education and healthcare sectors. Pacific Investments maintains an active involvement in the businesses it invests in, shaping strategy, overseeing operations and business development.

Posted on August 8th 2019

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