Coutts reshapes offer for UHNW clients under The Coutts Family Office name

Date: 27 Jan 2021

Citywealth

Coutts, the wealth manager and private bank, has announced the redevelopment of its Private Office offering under the name of Coutts Family Office (CFO). The new-look service offer will combine strategic partnerships from within NatWest Group and relationships with external providers all in one team – meaning both domestic and international family office and UHNW clients will be given access to an even wider breadth of services than ever before.

CFO offers the bank’s wealthiest clients unique investment opportunities, tax and inheritance planning and the ability to facilitate their philanthropic ambitions. Under the stewardship of Warren Thompson, Head of Family Office & UHNW, clients will now benefit from a wider range of opportunity, including asset finance advice on marine, aviation and automotive commodities through Lombard, and access to a brand new bespoke HR support service for families called Family Office at Home – powered by NatWest Mentor.

Warren Thompson, Head of Family Office & UHNW, said: “When we sat down as a team to discuss the evolution of the UHNW market both here in the UK and overseas, it was apparent that by bringing together the best of the bank and by developing strategic external partnerships we could build on the already-excellent Coutts offering to create something we believe is unrivalled in the industry.”

CFO, which currently manages around ¬£5bn of assets in total is looking to grow that figure through investing in strategic partnerships with external providers in order to further improve what the team can offer. Clients are already benefitting from the new relationship with BlackRock, the world’s largest asset manager, which allows Coutts to utilise BlackRock’s market-leading platforms and make more agile asset allocation decisions, and on top of this CFO clients will now be able to leverage the benefits of a new partnership announced with Flagstone. The award-winning London-based fintech is the developer of the UK’s largest cash deposit platform, meaning Coutts’ Family Office clients will now gain access to interest rates from a curated range of term deposit products provided by a panel of carefully selected third party banks.

Thompson commented: “It is vital that we continue to analyse and invest in the best possible ways of managing our clients’ money. The new partnership with Flagstone means that clients will benefit significantly from even greater variety.

“Everything we do is driven by a desire to do the best by our clients. By combining our internal expertise and experience with carefully selected third-parties, investing in the team and updating the name we believe the revised proposition is perfectly placed to not just even reinforce our already-excellent client relationships, but better position us for growth than ever before.”

Peter Flavel, Coutts CEO, said: “We’re renowned for the personal touch, and the enduring relationships we have with our clients. But it’s our unrivalled ability to challenge and thought provoke in matters of family wealth, coupled with our extensive range of solutions and deep connections, that sets Coutts Family Office apart.”