fundtruffle

Vermeer Partners surpasses the £1 billion AUM milestone

News Team, 10/10/2019

The firm named after the Dutch art master, Vermeer Partners today announced that it had attracted over £1 billion in clients assets just four months after launch.

It was established last year by two of wealth management seasoned professionals, Michael Kerr-Dineen and Simon Melling, as Chairman and CEO respectively. Mr Kerr-Dineen previously founded and ran Cheviot Partners and oversaw its merger with Quilter, while Mr Melling, the former CEO of stockbroker Cenkos Securities, both felt there was a real need for a wealth management firm where investment professionals could act as a partnership and own a stake in their own firm, while providing their clients with the personal care, independent advice and long-term support they need and desire.

The firm said individuals are increasingly turning their backs on large wealth management firms, whose offering is becoming commoditised and instead want transparency and a personalised touch from their wealth managers. “As corporate monoliths raise their minimum investments, Vermeer Partners will service HNW clients and charities with a genuinely bespoke service that is not based on any one model or a one size fits all approach”.

Vermeer is owned by its partners, with all its investment managers having ‘skin in the game’, ie being invested in the business. The partners are able to focu on their clients without the distractions that can be caused by unaligned external shareholders. This independence from shareholder and other corporate influences provides flexibility to be both strategically innovative and entrepreneurial according to Verneer.

Michael Kerr Dineen said: When we originally started thinking about the concept two years ago, it was clear there was a real need for a business like Vermeer Partners to offer investment professionals the opportunity to serve their clients in an environment of trust. Recent events in the investment sector have shown how great this need really is. Private clients are understandably shaken by recent events and the catastrophic failings of ‘rock-star’ fund managers. They are searching for a firm with the values that we seek to embody, and we are proud to serve them.”

About PAM

PAM Insight is the world’s leading independent provider of essential specialist news, analysis and comparative data for the fast-evolving world of wealth management.

Read more about PAM

Subscribers

Dedicated to serve both investors and fund companies, fundeye.com aims at becoming the preferred publication platform for market professionals.

Read more