A Birmingham wealth management company is celebrating double-digit percentage growth in its funds under its management scheme during 2013.

Quilter Cheviot Investment Management’s office in Bennett’s Hill manages over £1.5 billion of funds, making it the biggest Quilter Cheviot office in the UK.

It grew its funding portfolio from £1.37 billion at the start of the year to £1.58 billion by October 31 2013 – a rise of 15 per cent.

Martin Baines, the firm’s chief executive, said the Birmingham growth had helped the company nationally to hit the
£15 billion barrier in funds.

Mr Baines said the the company had ambitious growth plans for the region in 2014 when it would be marking 20 years in the city.

The head of the 43-strong Birmingham office, executive director Sean Raftery, added that the firm intended to capitalise on its record for consistency and quality of performance.

“In 2014 we will be very focused on continuing to drive fund performance and on cementing our pre-eminent position in the Birmingham marketplace. We believe our proposition gives us real opportunities to win new clients and extend our reach with financial advisors and professional intermediaries such as lawyers and accountants,” he said.

Quilter Cheviot focuses primarily on structuring and managing bespoke discretionary portfolios for private clients, charities, trusts, pension funds and intermediaries. One of its directors, Gerry Loughrey, was this year appointed chair of the Birmingham Stock Exchange Association.