Octopus expands business development team by 25 per cent
Octopus Investments has increased the size of its business development team by 25 per cent in the last year, and now has 37 business development managers helping advisers across the UK.
Offering a range of venture capital trusts, enterprise investment schemes, inheritance tax services and the CFIC UK Micro Cap Growth Fund, Octopus now manages more than GBP3bn of assets on behalf of more than 50,000 investors.
Guy Myles, co-founder and managing director, says: “It’s absolutely vital that we have a strong, experienced and extensive team on hand at Octopus to help the advisers we work with across the country. The introduction of RDR has seen advisers widen the range of products available to their clients. This means that it's down to us, the financial services providers, to work with advisers more to help them understand our products and help them to feel empowered to make a meaningful difference in helping clients solve their financial planning needs.
“It is an exciting time for Octopus. RDR has also focused advisers’ attention on areas where they can add real value for their clients – such as tax planning – and we have seen this reflected in the growth in demand for our core products. We expect investment into our VCTs this year to more than double that of last year, and have experienced no problems reaching our fundraising targets for the three tranches of our EIS product that we’ve opened during this tax year. We now work with more advisers on behalf of more clients than ever before. That means it’s really important that we achieve the appropriate level of support and engagement with advisers as we believe it’s really valued by them. It’s great that we can now provide additional on the ground support for our advisers, as well as increasing telephone support from our offices in London. Ultimately, it’s good for our investors.”
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