UK-based Peregrine & Black Investment Management (PBIM) has unveiled a financial planning business.
P&B Wealth has been set up as a sister company to PBIM, and will provide wealth planning, investment planning, tax structuring, as well as pension and estate planning.
It will also offer defined benefit (DB) pension transfer advice, which it plans to make available as an outsourced service to other financial planning businesses.
Foysol Hussain and Peter Simes, formerly of Tideway Investment Partners, have joined the firm as head of financial advice and business development director, respectively.
No pressure
Even though financial planning services will be available to PBIM’s direct private clients, chief executive Phil Gent said that they will be “under no pressure to sign up”.
He said financial planning clients of P&B Wealth will not “come under pressure” to use PBIM’s investment management services, and the company will appoint external investment managers “where appropriate”.
“It is important to stay independent on all sides,” Gent said.
He hopes P&B Wealth will make up 50% of the group’s business in three years’ time
PBIM was set up in 2015 by ex-Jupiter trio Gent, Nina Phinn and Oliver Lund.
