Titan Wealth chief investment officer and managing director of the Jersey office Kevin Boscher tells Emily Moore why the firm has an ambitious plan to grow both locally and at group level
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THERE is no doubt that the past two years have been particularly busy ones for Kevin Boscher.
Not only did he relocate 27 miles from his native Guernsey to Jersey to take up the role of chief investment officer and managing director of the Jersey office of a multinational firm, but he has also helped to steer that firm through an acquisition, rebrand and significant expansion.
And, with an ambitious growth strategy on the cards, the Jersey head of Titan Wealth admits that the next two years are likely to be just as busy as the past two.
“Titan Wealth as a group and the business in Jersey are both going for growth,” said Kevin. “There is tremendous potential for us to expand our market share here, and it is very encouraging to see that ambition reflected in the Island’s Time To Win initiative, which recognises the important role that the finance industry plays in the economy.”
Having started his career in the “addictive” wealth management sector some 40 years ago, Kevin worked for Ravenscroft in Guernsey for a number of years before heading to the company’s newly expanded offices in the former Southampton Hotel in St Helier.
“We now have three floors in the building, reflecting both our growth since the rebrand to Titan Wealth, the recent acquisition of Advisa Wealth, which has also rebranded to Titan Wealth, and our plans for further expansion,” he explained.
With Jersey staff numbers having trebled over the past 18 months to 44, Kevin says that the team is keen to boost numbers further, with a recruitment campaign now taking place.
The larger team and additional services which the Titan team can now offer will, says Kevin, help to give it an advantage as it strives for growth in a market which he admits is “very competitive”.
“While we have long been known for our stockbroking and investment management services, as well as for managing cash for institutions, intermediaries and private clients, the addition of Advisa means that we can also now offer financial planning,” he said.
“Having a broad range of complementary services is a great benefit to clients, as is our commitment to putting clients at the heart of everything we do. That may sound like a cliché but that approach underpins everything we do, and we are reminded of that responsibility every day, as we see our clients not just when they come in for a meeting but also when we are in the community.
“Whether attending an event that we sponsor, going out for dinner or even going to the supermarket, there is always a good chance that we will bump into our clients, which is a constant reminder of the need to look after them and always do the right thing.”
Acknowledging that some clients had wondered whether the firm’s acquisition by Titan Wealth would affect the relationship side of the business, Kevin stressed that local decision-making remained a key USP.
“One of the reasons that we agreed to the Titan deal was because they shared our values and recognised the importance of that local decision-making ability,” he said.
“Business decisions, onboarding choices and investment strategies are still decided locally by the same management team. In fact, not only have we retained that ability but we are also now able to contribute to the wider group strategy, which is also very beneficial.”
These factors – combined with the firm’s belief in “giving back to the local community” – explain, says Kevin, why the company has grown so significantly across the Channel Islands, and why it is now well positioned for further development.
“It is important to remember that Ravenscroft was a very successful business before the acquisition, employing more than 100 people across Jersey and Guernsey and managing assets of £7.5bn,” he said. “That made us a substantial Channel Island business, but Titan’s investment will help us to take the business to the next level.”
The result of that investment, he said, was already being seen, not just through acquisitions, hires and branding across the Island but also in new systems and technology.
“Titan Wealth bought Ravenscroft because it saw us as key to delivering its international strategic goals,” he said. “As the company plans to buy a number of businesses internationally, we are at the core of that expansion programme, and being part of a global group gives us access to greater depth, resources and capability, which enhance the service we offer clients.
“As well as working with a broader investment and financial planning team, something which the team who joined us from Advisa also appreciate, we can benefit from the group’s investment in technology, and while we have no intention of reducing employee numbers, we see artificial intelligence as a key way of improving our efficiency and enhancing the client experience.”
And as the group eyes further growth, Kevin says that breadth of services and integration will be invaluable.
“Our goal is to grow the Channel Island business by between 8% and 10% every year for the next five years,” he said. “Those are the numbers we’re looking at, but it’s not just about numbers. The important thing for us is that we grow by doing the right thing for our clients, and it is hugely exciting for us that, by working with colleagues across the business, we can now offer everything from pensions and savings plans to investment advice and the opportunity to invest in precious metals, which are stored in our vault in Guernsey.
“Just as importantly, we want to look after our people. We want to be seen as an employer of choice and as a business which contributes both to the Island’s economy and to its community through a range of sponsorships and charitable support.
“If we can achieve our business objectives while increasing our brand awareness, strengthening our reputation as a good-quality wealth manager, a good place to work and a good corporate citizen, then we will feel that we have achieved success.”
