Adam & Co., the Edinburgh-based private banking and wealth management arm of Royal Bank of Scotland, aims to leverage the capabilities of Adam & Co Investment Management (AIM), its investment management arm to help fuel future growth.
This follows its success in the 2014 PAM Awards when it won the award for best defensive portfolio, the first time the investment managed arm of a big diversified bank has ever won a PAM Award in the investment management categories. Adam & Co. also featured as a runner-up in the growth and high growth categories.
Initially the focus will be making Adam & Co’s investment management capabilities available to other constituents of RBS Group including Coutts, Graham Storrie, Adam & Co’s managing director and chief executive of AIM told thewealthnet in an exclusive interview.
The firm has already successfully worked with Coutts Private Office on a pilot scheme and is now in a position to extend its offering to other parts of RBS Group.
“This is a very exciting development for Adam & Co.,” said Mr Storrie. “The initial focus will initially be on making our investment management offering more widely available within RBS. But given the new distribution opportunities offered by investment platforms we may eventually make our offering available to third parties through this channel. In an ideal world we would like to be on two or three platforms.”
In many respects Adam & Co’s investment management proposition, along with the process that underpins it is a throwback to another era with individual securities still playing a significant role in portfolio construction, with collectives used to secure exposure to international markets and more specialist asset classes.
Adam & Co has increased the resources available to AIM. Led by Dickson Anderson, who joined the firm from Franklin Templeton in 2012, AIM currently has a staff of 24, 16 of whom are portfolio managers.
Irrespective of the future growth RBS Group has already provided Adam & Co with growth opportunities. Two thirds of the bank’s new clients are sourced from the parent group said Mr Storrie.
Adam & Co’s main focus remains London, where it provides an alternative to Coutts, and Scotland, its home market. “We see ourselves as a London and Scottish bank,” continued Mr Storrie.
The firm has recently invested heavily in its Scottish and London locations. All of its offices have recently had either full or part refurbishment.
Adam & Co. also continues to recruit new personnel, especially in AIM, to help secure its growth objectives.