Charles Stanley adds sales manager from Brooks

Wealth manager Charles Stanley has appointed Adam Benzimra as national sales manager to help grow its presence in the UK intermediary market.

He joins from Brooks Macdonald where he was business development manager.

He will be responsible for the development and management of the intermediary sales team and will work with the head of strategic accounts and group head of sales to develop and implement a national IFA marketing and support strategy.

Previous roles include distribution positions at Standard Bank, Ashburton and Morningstar.

Mr Benzimra will be based in London and will report to Sean Osborne, group head of sales.

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Mr Osborne said: “We see a huge opportunity in the intermediary channel as IFAs seek a partner who can support them with a breadth of investment options and a thorough understanding of the end client and their needs.

“Adam’s many years of experience will help us build more partnerships in this area, enabling us to grow to meet our ambitions and become one of the leading providers of bespoke discretionary and model portfolio investment solutions in the UK.”

Charles Stanley was acquired by rival Raymond James in a £280m deal which completed in January. 

The acquisition, one of the largest in the wealth management sector, was announced in July with Raymond James agreeing to acquire the entire issued share capital of Charles Stanley for 515p per share.

The deal added around 200 Charles Stanley wealth managers to Raymond James and boosted Raymond James’ UK client assets under management to over £40bn.

Before adding to its assets through the acquisition, Raymond James managed over £13bn of client assets through 100 independently managed branches in the UK. Each branch is responsible for its own clients with oversight from Raymond James.

Across Raymond James, there are 300 wealth managers advising 40,000 clients and managing client investment portfolios.

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Charles Stanley adds sales manager from Brooks