Scottish wealth firm doubles assets under management to ‘milestone’ £1 billion

A wealth management firm has hailed a “significant milestone” in its brief history after surpassing £1 billion in assets in Scotland.

W1M Scotland - formerly Waverton Scotland - was established in 2021 as a result of Waverton’s acquisition of Cornerstone Asset Management. The firm caters for high-net-worth and ultra-high-net-worth individuals, families, charities and institutions. In just four years, it has doubled its assets under management to £1bn.

In 2023, Waverton Scotland bolstered its team further with the appointments of Graeme Brock, Roger Haxton, and Lauren Austin. With over three decades of working as partners, Brock and Haxton were fundamental to the success of Smith & Williamson, now Evelyn Partners, and Greig Middleton, now Barclays Wealth, across the country.

The wealth management firm caters for high-net-worth and ultra-high-net-worth individuals, families, charities and institutions.

W1M Scotland - part of W1M Wealth Management - said its growth since 2021 has been driven by the team’s hiring strategy as well as strong demand for its wealth management service “in all corners of Scotland” while recognising the country’s “unique wealth characteristics and demands”. There is said to have been a “significant” uptake in the firm’s combined planning and investment proposition.

Alan Reid, head of wealth planning, W1M Scotland, said: “Our team has worked incredibly hard over the past few years to grow W1M’s presence in Scotland and drive the business’ integrated wealth and investment offering.

“This success has been driven by our laser focus on growing the team and continually adding the best expertise to the firm, ensuring clients interact with specialists who can truly make a difference. The numbers speak for themselves, and we’re excited for what the future holds,” he added.

“W1M’s strong foundations and enhanced proposition following the firm’s recent merger will provide a firm platform for our business to continue flourishing in Scotland.”

Graeme Brock, portfolio manager and head of W1M’s Scotland office, said: “It’s been incredible to experience the firm’s transformation in such a short space of time. We pride ourselves on providing our clients with simple and accessible solutions to complex challenges.

“This is made possible by the seamless integration and collaboration between our wealth and financial planning teams, who have a deep understanding of their markets and solutions.”