Authorised and regulated by the UK’s FCA to provide investment accounts, we are bound by CASS rules to segregate and protect client assets.
The transaction expands and diversifies our client base considerably, adding around 300 new wealth management accounts to the business, with an additional $800m of client assets bringing the total of Dolfin’s client assets to more than $3bn.
The completion of this deal is testimony to the flexibility and scalability inherent in Dolfin’s platform. Dolfin has the ability to attract and take on sizeable volumes of new business by applying a mix of investment, operational and technology expertise.
The new client base dovetails well with Dolfin’s existing international footprint and emerging markets specialism, with concentrations in Asia (30%), UK/Channel Islands (20%) and Eastern Europe (20%), as well as Western/Southern Europe (15%) and Middle East/Africa (15%).
With the transaction complete, 14 members of staff have now joined from Falcon Private Wealth, including several senior wealth managers, further bolstering the breadth of expertise of the Dolfin team.
Denis Nagy, CEO at Dolfin, said: “The successful completion of this deal is important for two reasons. Firstly, it adds scale in terms of high-quality clients and wealth managers, in line with our international and emerging market strategy. Secondly, it demonstrates the huge appeal of our platform to demanding private clients and their advisers from many different parts of the world and – crucially – that, after six years in business, we have the management and execution capability to take on substantial new business despite the operational complexity involved. In my mind, this cements Dolfin’s position as one of London’s fastest-growing wealth management platforms, the natural partner for clients and private bankers who want to get things done. We look forward to welcoming our new team members, and to offering our new clients both continuity in excellent relationship management and an enhanced range of services.”