The new office in the Midlands will not only cover Birmingham but will serve a wide hinterland which the firm describes as an "economic powerhouse."

UK wealth manager Canaccord Wealth is relocating to an ultra-modern, purpose-built office in Birmingham.

Although Canaccord already has a presence in the Midlands – it has worked with clients in the region for nearly 40 years – the investment in the new office demonstrates Canaccord’s commitment to the region. The new space, located in the heart of the city’s Colmore business district, is at 4 St Philips Place; it is a modern, bright and collaborative workspace, the wealth manager said in a statement.

The firm recently announced several key hires in Birmingham (pictured). It is welcoming two experienced investment directors, Paul Fielding and Roger Sedgwick, who bring a combined 65 years’ wealth management expertise to the team, and Kathryn Sargent as intermediary business development manager.

“Geographically, we cover a large area, not just Birmingham and Worcester, but also Solihull, Stratford, Sutton Coldfield, Warwick and further. Our new base in the heart of Birmingham’s business district puts us front and centre for people who are time-poor and need a wealth manager who understands their needs.” Simon Raggett, divisional director at Canaccord Wealth, said.

“The Midlands is an economic powerhouse and our clients demand excellence, delivery and a strong local presence. That is why, in addition to our new office, we have made a number of key hires recently to bolster our capability as an integrated wealth manager,” Duncan Stratford, UK managing director at Canaccord Wealth, added.

Canaccord Genuity Wealth Management UK (CGWM UK), which has £35.2 billion ($44.6 billion) of assets under management, has 14 offices that span the UK and the Crown Dependencies. In Scotland, the firm operates under the Adam & Company brand.