The wealth management division of UK stockbrokers Collins Stewart has appointed Lee Bailey as head of financial planning, signalling the firm’s move to develop this side of its business.

Mr Bailey joins from US-based Fisher Wealth. As part of his business brief, Mr Bailey will look at the financial planning needs of Collins Stewart’s wealth management clients, Neil Darke, head of wealth management, told WealthBriefing.

Further details about Collins Stewart’s financial planning business may be announced in due course, Mr Darke said.

At 30 June this year, the firm had £3.7 billion of discretionary assets under management and administration.