- Brewin Dolphin is one of the UK’s largest private client investment managers
- Efficiency gains and asset safety aspects were key decision criteria
- Clearstream’s Vestima platform well placed to help customers meet strict regulatory requirements for asset safety and efficiency in fund custody
Brewin Dolphin, one of the longest established, private client investment management firms in the UK, has chosen to use Clearstream for the handling of investment fund activities. The decision was mainly motivated by efficiency gains and asset safety aspects provided by Clearstream’s one-stop shop solution for the processing of third-party funds, Vestima.
With the introduction of the Retail Distribution Review (RDR) in the UK and financial regulators increasingly monitoring fund processing and asset protection, wealth managers are searching for best-in-class fund custody providers to manage their clients’ fund assets.
Vestima is recognised by the UK’s FCA as ‘Commercial Settlement System (CSS)’. It delivers full automation across order placement, DVP settlement and asset servicing and is supported from the same platform as the servicing of customers’ fixed income, equities and warrants, thereby ensuring a streamlined process for all asset classes.
Dave Berry, Head of Operations at Brewin Dolphin, said: "The decision to use Clearstream was driven by our need to find a provider which not only offers the operational efficiencies we are looking for, but more importantly ensures the greatest safety of our clients’ assets. Vestima’s ability to handle a diverse fund portfolio was a further factor in our decision to work with Clearstream.”
Philip Brown, Co-Chief Executive Officer of Clearstream Banking, said: “We are delighted that Brewin Dolphin, a prominent player in the UK wealth management industry, has chosen Clearstream to provide order routing, DVP settlement and custody for their investments into third-party funds. We welcome Brewin Dolphin to our ever-growing community of UK-based clients which validates our best in class services for the processing of UK and cross-border funds."
About Clearstream
As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from over 50 domestic markets worldwide. Clearstream’s customers comprise approximately 2,500 financial institutions in more than 110 countries. Its services include the issuance, settlement and custody of securities, as well as investment fund services and global securities financing. With more than 13 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.
With over 190,000 investment funds on its fund processing platform Vestima and more than 10 million settlement instructions processed every year, Clearstream is one of the leading providers of investment funds services worldwide. The company is also the largest contributor to the standardisation of funds processing.
Vestima - Facts & Figures
- Over 140,000 mutual fund ISINs, and 50,000 hedge funds on Vestima
- Around 1,000 customers in 73 countries use Vestima as a unique venue for funds processing
- Customer segments cover universal banks, private banks, retail banks, global and local custodians, asset managers, fund platforms and other Institutional investors
- 10 million STP market transactions per year, with over EUR 1,300 bn international fund assets deposited at Clearstream
About Brewin Dolphin
Brewin Dolphin is one of the UK’s leading independent providers of personalised, discretionary wealth management services. With over GBP 30.7 billion in funds under management, Brewin Dolphin offers award-winning investment management and financial planning services to over 100,000 clients, including individuals, charities, trusts, pension funds and financial intermediaries.
Brewin Dolphin is dedicated to providing the highest levels of client service. For over 250 years the company has been helping its clients plan their finances and manage their investments to achieve their long-term goals. Ranging from bespoke, discretionary investment management to retirement planning and tax-efficient investing, Brewin Dolphin inspires confidence in its clients enabling them to make the right choices and achieve their individual life ambitions. Following the flotation in 1994 on the London Stock Exchange, Brewin Dolphin has grown from strength to strength. Over the past decade alone, the focus on discretionary investment management has led to significant growth in discretionary client funds.
Brewin Dolphin currently has 28 offices throughout the UK and the Channel Islands, and 500 fully qualified investment managers and financial planners, providing clients with a personal and tailored wealth management service. Brewin Dolphin is committed to the most exacting standards of client service, with long-term thinking and absolute focus on clients’ needs at the core.
Brewin Dolphin has the vision and ambition to grow into the UK’s leading provider of discretionary wealth management. In 2015, the company won the City of London Wealth Management Awards for Best Discretionary Service Award 2015 and the Portfolio Adviser Gold Award for Best Cautious Portfolio Manager 2015. Brewin Dolphin is committed to building on its strong track record and delivering continued value to both its clients and shareholders.