Manchester accountancy firm Sedulo has launched a wealth management arm.

The firm, which specialises in SME clients, said its debut went against the current industry trend which has seen withdrawals form the independent advice market.

Paul Lindfield, who is leading the new division, said that this had led to people effectively having less choice.

He added: "We believe that every client is unique and that a one sized solution does not fit all. This is the fundamental reason behind launching a business that goes against the current industry tide.