UK-based Close Asset Management has strengthened its intermediary client advisor team with the hire of Paul Fisher, who was latterly a private banker and senior financial planning specialist at Coutts, Citywire reports.

In his new role - based in the southwest - Fisher is charged with both providing investment advice and developing Close’s links to key intermediaries in the region as the firm looks snap up the books of IFAs wanting to exit the industry before the implementation of the regulator’s Retail Distribution Review.

Fisher will be working closely with Anthony Hall, who was appointed to the southwest team in May, and will report to David Muncaster, director of intermediary clients, the report said.

In other expansionary moves, Close Asset Management is poised to launch a new range of multi-asset funds aimed at IFAs with smaller portfolios. The funds are designed for different risk appetites and investment prerogatives and as such are named the Close Bond, Income, Conservative, Balanced, Growth and Dynamic portfolios.

In recent months Close Asset Management has been busily pushing ahead with plans to grow its discretionary fund management business among UK IFAs and has said it hopes to pick up £6 billion in advisor assets before the implementation of the RDR at the end of 2012.

Along with a series of recent hires to bolster its marketing, intermediaries and business development teams, back in June the firm bought the client book of an unidentified regional IFA which it is believed could garner Close up to £50 million in assets over the coming 18 months.