Mutual Financial Management

Apr 13, 2023

13th April 20237:30 am Independent investment firm Elston Consulting has exclusively revealed it will be providing research and analytics services to Wren Sterling Group’s discretionary fund manager, MFDM. The Wren Sterling Group acquired MFDM as part of its acquisition of Mutual Financial Management in June 2022. The Wren Sterling Group provides specialist independent financial planning advice to private and corporate clients. Elston stated it is a “pioneer of the insourcing model” where financial advisers and adviser-owned discretionary managers bring in additional resources to support the roll out of their own proposition. MFDM chief information officer Rory McPherson said: “We are delighted to get the additional resource we need from Elston to support the enhancement of existing and roll out of new portfolios. Their experience in proposition development and tangible support through their asset allocation research, analytics and insights are much valued.” Elston Consulting head of research Henry Cobbe added: “We are honoured to have been selected by MFDM to support the deepening and broadening of their model portfolio ranges. The broader Wren Sterling Group is a strong brand in the advisory market, and we want to help MFDM offer a leading proposition both to Wren Sterling and third-party financial advisers.” In September 2022 , Elston launched five inflation-adapted portfolios for advisers. The portfolios are defined by equity risk, incorporate a value/income tilt within equities and use risk-constrained real asset and absolute return strategies as alternatives to bonds. Elston said the portfolios, which are available for licensing, will help advisers and their clients looking for ways to mitigate the impact that inflation has on portfolios particularly on bonds. It added that the new investment portfolios underscored its continued dedication to innovating solutions for advisers. At the start of 2023 Wren Sterling Group completed two acquisitions of Active Wealth Management and HB&O Financial Services. Following these purchases, the group had 860 clients and £330m in assets. Active Wealth Management Limited will join Wren Sterling’s Glasgow office. Meanwhile, HB&O Financial Services, the acquisition of which it announced autumn 2022, further expands Wren Sterling’s presence in the West Midlands.