Wealth manager closes its Liverpool city centre office

Northern wealth management firm closes its Liverpool operation just two years after closing its Southport office and will now service Merseyside clients from Manchester. Tony McDonough reports

Cotton Exchange, Old Hall Street
Redmayne Bentley was based at the Cotton Exchange in Liverpool city centre

 

Wealth manager Redmayne Bentley has closed its Liverpool office – the second Merseyside closure in two years.

Leeds-based Redmayne said it decided to close the Liverpool operation, based in the Cotton Exchange, following a strategic review. Merseyside clients of the firm will now be serviced from the Manchester office.

The office was run by Derek Gawne, a well known figure in the Liverpool wealth management sector. He formerly ran the Liverpool branch of Charles Stanley. On Friday LBN reported that two former members of the Liverpool team had left to set up the first local branch of London-based wealth management outfit, Raymond James.

Paul Edwards and Glyn Edwards, who are not related, have set up shop in the Grade I-listed Oriel Chambers in Water Street. They were due to open in March but had to delay due to the COVID-19 lockdown.

In 2018, Redmayne Bentley closed its Southport office and merged it with the Liverpool operation. At the time the firm said it was the intention to “strengthen our regional presence and client service”.

Stuart Davis, joint chief executive at Redmayne Bentley, told LBN: “Following a strategic review we have taken the decision to amalgamate our North West offices, as such our Liverpool office closed on July 31.

“We continue to provide a full investment management service to clients of the office from our Manchester office and clients have been contacted with details of their new investment manager or stockbroker.

“We haven’t taken this decision lightly, but as we grow as a business, we want to do so in the most efficient and sustainable way we can for the long-term benefit of our clients. We thank the retiring head of office, Derek Gawne for his contribution over the years.”

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