This publication talks to a firm that was set up in the UK last year that is pushing to build a name for itself in the wealth and investments space.

Protecting clients’ wealth in a risk-controlled way appears to be the name of the game for Oakglen Wealth, a UK-based wealth manager launched by Jersey-based Oakglen Group last year. 

The UK’s Consumer Duty regulatory regime, which came into force at the end of July 2023, is an added force requiring wealth managers to honour clients’ risk tolerances and objectives to the best of their ability. 

“The biggest challenge is still the tendency for some clients to focus solely on short-term performance, rather than considering long-term risk-adjusted returns,” the firm told this publication. “This tendency can lead to unrealistic expectations and dissatisfaction during periods of market volatility or when certain risk assets [are] in the midst of a bull market – the `fear of missing out'. It is worth adding that advances in technology have enabled a more interactive approach to client communication,” it continued.

In April 2023, Oakglen Wealth (formerly known as Oakbridge Wealth) said it was launching its UK business. Dominic Tayler, managing director (UK), was put in charge. Tayler, who joined in 2023, previously worked at Quilter Cheviot for about 10 years, and before then, the Cheviot Asset Management business.

“We are working to bring in independent financial advisors both for the offshore and onshore community,” Tayler said. “These IFA firms are often dissatisfied with the service and performance of their incumbent managers and are seeking fresh and innovative solutions.” 

From its offices in St James’s, Oakglen Wealth appears to be the kind of boutique firm that almost deliberately eschews big, flashy branding campaigns and prefers to go for a steady approach. Given a backdrop of volatile markets and geopolitical worries, this is an approach that apparently makes sense.
 
In 2023, Oakglen Wealth put to work a new portfolio management and client reporting system from SEI. Now it is time for the hard results to come through. The approach appears to careful.

The firm told this publication that its “key focus” is on effectively managing risk. “We aim to protect against large losses in difficult conditions, which enables us to participate in market gains in a measured manner. We believe this is the best way to deliver consistently strong risk-adjusted performance over time,” it said. “We are not benchmark orientated, which provides us with greater flexibility whilst navigating financial markets and enables us to tailor portfolios to a client’s risk tolerance and investment objectives.” 

Arrivals
Besides Tayler’s own arrival, Oakglen Wealth has added Richard Firth and Michael Clarke. Firth, with three decades’ experience, joined as a consultant. He has worked at firms including Quilter Cheviot and Cazenove. Clarke was hired as investment director, and has 35 years’ financial sector experience, working in senior wealth roles at UBS and HSBC. 

The business does not rule out acquisitions to build its growth, but any such M&A will be on a “highly selective basis”.

Oakglen Wealth intends to have a range of private clients, advisors, trust companies and charities. On the services side, it offers discretionary investment models, with alternative and more specific investment options making up the overall offering, suited to what clients want.