Close Asset Management has expanded its Birmingham with the appointment of Max Edwards as intermediary client advisor. His role will focus on providing investment advice and developing intermediary relationships in this region, to better assist IFAs in a changing market.

Mr Edwards joins Close from Barings, where he worked on building the discretionary and private client intermediary business.

Steven Mendel, the head of wealth management at Close, said: “Close is committed to growing the business across the UK, particularly the Midlands which is a key region in our plans for future business development. We don’t just believe change is coming; we know it is and it is crucial that we have the right people in place during this transitional period.”

“A combination of the impact of volatile markets on client sentiment and the potential impacts of the retail distribution review is giving rise to significant change in IFA business models. We are seeing a genuine trend towards IFAs “de-risking” the investment advice element of their businesses through the development of strategic alliances with professional discretionary managers. Close will be offering options to intermediaries who are looking for out-sourced solutions to portfolio management and investment advice.”