International financial planner firm Blacktower Financial Management Group has named industry veteran David Worthy to lead its newly created centralised investment proposition.
The Centralised Investment Proposition (CIP) is being implemented in order to provide clients with a transparent and flexible solution to fund and investment selection, Blacktower said in a statement on 26 July.
The adoption of the CIP will give its advisers and clients exclusive access to discretionary fund manager Nexus Portfolio Management Limited (NPML) which is licensed by the Guernsey Financial Services Commission, SICAV Fund Suite Libero and a thoroughly researched list of third-party external funds.
With over 30 years of UK and international experience in the financial services industry, Worthy will be responsible for overseeing the CIP and liaising between NPML, the SICAV Fund Suite and third-party external funds, as well as working closely with advisers to help develop their businesses and ensure client portfolios are positioned correctly between all three Group solutions.
Worthy started his career at Scottish Life in the UK as a sales manager, before moving to Scottish Life International where he oversaw the distribution of life and investment products across international markets, including Asia and Europe.
During his time as a Partner at Global Wealth Management Solutions (GWMS), Worthy worked with various third-party product providers, predominantly investment funds, and spearheaded expansion of the company into Asia, the Middle East and Europe, building a very successful third-party sales, marketing and distribution business.
Worthy said: "Having worked with Blacktower and many of the team over a number of years previously, when approached I had no hesitation in accepting the role. The company has matured over 35 years into a prominent, highly respected wealth management business and like any business that has grown successfully, there is an increasing need to have a coordinated and structured approach.
"I am looking forward to developing the Central Investment Proposition and helping our advisers continue to deliver a first-class service to their clients'
Gavin Pluck, group managing director at Blacktower, said: "The addition of both the CIP and David Worthy's expertise to the Blacktower Group is an exciting and significant development which will provide more structure to our existing investment framework and result in superior, consolidated reporting."
Group chairman John Westwood added that "the CIP will improve the efficiency of the fund selection process and improve our service offering, allowing us to truly focus on providing a bespoke, personalised experience for our clients".
Ross Preston, director of NPML, Blacktower's Discretionary Management service, said: "We look forward to working closely with David in order to roll out this comprehensive and value-add investment solution. We will work together to ensure the delivery of a robust and flexible product offering to Blacktower's diverse client bank.
"The CIP adds great value to its client service offering and cements its position as a market-leading global wealth management firm."
The announcement follows the group's recent expansion into Australia and Switzerland.