A former director at Quilter Cheviot is targeting the high net worth end of the investor market with his latest wealth venture as he looks to grow rapidly.
Dominic Tayler is managing director of OakGlen Wealth in the UK, which has around £400mn of assets under management.
The firm has recently launched its UK wealth arm with its parent company based in Jersey.
Tayler spent a decade as an executive director at Quilter Cheviot, before departing earlier this year to head up OakGlen's operations in the UK.
He told FTAdviser: “The aim is to grow the business and one of the effective ways to do that is through clients with bigger pots of assets.
"As part of our offering, for the right client, we offer the chance to participate in private equity deals, and, in the right market, property deals.
"Clients that might have that as their preference are more likely to have larger pots of assets, though of course that is dependant on the risk tolerance of each client.”
The firm is the UK operation of a Jersey-based wealth management business, and is backed by the Crawford family, whose background is in technology investing and property.
Tayler said he believes the knowledge and understanding of technology from his backers means his firm can be run in a way that maximises the latest innovations.
He said: “We had an issue recently and we called up the Crawford family who sent us a team of coders from their other business to fix the issue, and I suppose not many other wealth managers of our size would be able to do that.
"Technology is making it easier to grow a wealth management business. We outsource our back office functions to SEI for example, and that means we can grow much more quickly. In the past, when you wanted to grow as a business, it would have meant hiring more people which takes time.”
Over his 30-year career, Tayler has held executive positions at Quilter Cheviot, UBS, and Credit Suisse.
In 2006, he was one of the founding partners of Cheviot before its merger with Quilter in 2013.
The chief investment officer of the OakGlen UK business is Jeff Brumette, who previously co-founded the Rubicon hedge fund.
Tayler said: “We want to partner with advisers and we expect soon to be on a number of advice firm panels. Our aim is to grow very rapidly.”
david.thorpe@ft.com
