Harwood expands multi-manager focus with Wellian acquisition

Harwood Capital Management has agreed to buy rival wealth manager Wellian Investment Solutions in an effort to expand its multi-manager business.

Wellian, which has over £185m in assets under management, will become part of Harwood's multi-manager proposition. Following the acquisition, Wellian will maintain its own identity and continue to build on the local support network of financial advisers around the Tunbridge Wells area, where the firm is based. Alan Durrant will be chief executive of the business following the takeover, while Richard Philbin (pictured) will be chief investment officer, working alongside Wellian's investment director Chris Mayo. Wellian has provided independent fund research to financial advisers sin...