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- Magnus is exclusively for clients of Wren Sterling Financial Planning Ltd
- Assets have grown from £270m in early 2023 to over £1bn in eighteen months
The Wren Sterling Group’s DFM, Magnus Financial Discretionary Management, has passed £1bn of assets under management as the firm continues its drive to offer its clients a value-driven in-house solution.
Magnus is spearheaded by Rory McPherson, its Chief Investment Officer, and was launched to Wren Sterling’s clients in early 2023 with around £270m of assets under management at the time. It was started by the Mutual Financial Management team in 2020, and that business was acquired by Wren Sterling in November 2022.
James Twining, Wren Sterling’s Chief Executive Officer, said: “Magnus is an integral part of Wren Sterling’s client value proposition and it now manages one in every eight pounds that our clients trust us with.
“£1bn is clearly a great milestone, but perhaps more pleasing to me is the way we’ve got there. We’ve now got 85% of advisers in Wren Sterling who have recommended Magnus to their clients. That speaks to the great job the team have done in not only delivering market-leading performance but delivering it at a compelling price point, alongside excellent levels of service.”
“We’re delighted to have Rory and his team making the important everyday calls, but that is supplemented by the rigour you would expect of a £1bn plus investment manager, with Clemmie Vaughan, ex CEO of Ruffer, chairing Magnus’s Investment Committee.
“As an acquisitive firm, one of the biggest benefits of Magnus is being able to offer potential acquisition partners a ready-made home for their clients who might be on historic platforms, or an advisory investment proposition where they’re struggling to apply the necessary rigour or justify the cost. Within the group we’ve streamlined onboarding processes, while the cost and performance proposition is very compelling, but we never compel any Financial Planner to recommend it.”
James is clear that the future of Wren Sterling’s growth is tied to that of Magnus.
“We’ve set Magnus up with a dedicated team and it is highly scalable, so we’re optimistic of growing Magnus further in the coming years, as more of our clients are introduced to it.”