VWM Wealth completes management buyout

The firm said its board will continue to be chaired by founder Ken Welsh whilst he also pursues other interests and opportunities.

Mr Welsh, who co-founded VWM Wealth in 2001, sold his majority stake to chief investment officer David Thomson and director Lisa Johnstone – both of whom had existing minority stakes – as well as chartered financial planner Grahame Hopper, who will now become a director.

Ms Johnstone, who will now become managing director, said she and her colleagues decided to buy out Mr Welsh to effect his exit without the business having to pass to a consolidator.

She explained: “We’d been planning his exit and wanted to do it in a way that protected our client relationships,” she said.

“Consolidators hoover up smaller businesses, but Ken wanted to avoid that because we all feel that would result in a commoditised service.

“We don’t have hundreds of clients – we have 87 and the business is very relationship driven. It’s not just about the money but what the money is doing for those families.”

All the firm’s staff will remain with the business, which in additional to traditional wealth management services has begun taking a more lifestyle-focused approach to the work it does.

“We work with high-achievers and a lot of that is around advising them when they are coming up to retirement and looking to exit their businesses,” Ms Johnstone said.

“It’s about holding their hand through trying to find non-executive positions and in philanthropic activity.”

Mr Welsh, said: “With planning at the heart of our client service, for the past 4 years we have been working on our own business plan. I am delighted to confirm that, with the help of our business advisers, the transfer of ownership to the management team has now been completed.  It’s been a painless, transparent, and seamless process. I will remain with VWM Wealth as Chairman, supporting the management team, and will still have personal contact with clients.”

New managing director, Lisa Johnstone, added: “We would like to wish Ken every success in his future ventures and thank him for his inspiring leadership. We are grateful that he will continue to support the business in the exciting years ahead, and the whole team is very much looking forward to the future.  We feel honoured, and very fortunate, to have such an opportunity as part of one the UK’s most successful boutique wealth management firms. The quality of the VWM Wealth team is evidenced by the range of awards won, its excellent record in investment management and financial planning, as well as the quality of service, and strength of relationships enjoyed by all the families we work with.  We look forward to continuing to build upon that.”