The two UK investment houses have come together to create a new private client discretionary management proposition.

Raymond James Investment Services has partnered with Neptune to launch a new discretionary fund management business called Equester Capital Management.

Equester, to be launched over the coming months, will be a branch of Raymond James, with Neptune providing asset allocation and portfolio construction expertise, as well as research access and resources.

“Neptune’s commitment to quality and investment management expertise, coupled with their strong research and marketing capabilities, position this new business for tremendous success,” said David Hazelton, head of business development at Raymond James.

Raymond James Investment Services has provided investment and wealth management services in the UK since 2001. Its parent company, Raymond James Financial, is headquartered in Florida and has over 6,800 wealth managers worldwide. They service more than 2.8 million client accounts representing total assets of around $535 billion as at 30 June 2016.