| Type | Limited |
|---|---|
| Industry | Financial services |
| Founded | 1986 |
| Headquarters | London, UK |
| Key people | John Spiers, Graham Frost and 3i |
| Employees | 150 |
| Website | www.bestinvest.co.uk |
Bestinvest is a financial services company based in Mayfair, London. The firm specializes in providing independent investment advice, financial planning and wealth management services to private investors. The firm serves 70,000 clients through its website, telephone-based investment advisers and face-to-face meetings with independent financial advisers. Clients' investments are generally in Unit Trusts or OEICs or bespoke discretionary funds.
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The company was founded in 1986 by John Spiers[1] . Its origin was in providing advice on tax-efficient investing and its name was taken from the Business Enterprise Scheme (BES). The company earned a reputation as a small company specialist when it won the mandate to be the Investment Adviser for the AIM Distribution Trust VCT. The company grew into a broader based investment business, pioneering discount broking in the 1990s, promoting the use of online fund supermarkets and establishing a discretionary investment management arm. In July 2007 it was bought by management and 3i[2]. The company acquired HW Financial Services, the financial services arm of Haines Watts the accountancy group, in January 2010[3].
The company provides independent investment advice, discretionary investment management and financial planning services to individuals and companies, charities and other financial institutions. Available products include Individual Savings Accounts (ISA), Unit Trusts, Self-invested personal pensions (SIPP) and Venture Capital Trusts (VCT).[4]
The company has one of the largest independent research teams in the UK retail funds industry, and is well-known for its research and ratings of investments.
The company’s range of services caters to clients who manage their own investments as well as those who seek advice or wish to have their investments managed. Bestinvest pioneered independent fund research and has expanded its execution only services through Bestinvest Select, revamped its advisory services in 2011 and developed new portfolio management services. The business manages private portfolios on behalf of its clients and offers a range of discretionary portfolio management solutions. The company also manages five multi-manager funds (IFSL Bestinvest Multi-Asset Portfolio funds).[5] held in an Open Ended Investment Company OEIC managed by Graham Frost, Chief Investment Officer.
Other services include wealth planning for private clients, mortgage-broking and general insurance offered by a subsidiary Lovat Insurance Brokers Limited.