Brooks Macdonald Asset Management, a subsidiary of UK-listed wealth manager Brooks Macdonald, has announced a strategic alliance with FB Wealth Management, a provider of independent financial advice in the Humber & Lincolnshire region.

BMAM will offer FB Wealth’s clients two investment propositions: the bespoke portfolio service and the managed portfolio service, the firm said in a statement.

The bespoke portfolio service is designed for private clients who require an individual investment portfolio constructed and finely tuned to reflect their investment objectives, tax status, attitude to risk and other personal circumstances.

The firm said that the managed portfolio service provides FB Wealth’s clients access to a choice of five actively managed, risk-rated, diversified portfolios which invest in a wide range of investments (unit trusts, OEICs, investment trusts, exchange traded funds, structured products and cash) to ensure a spread of risk across the full range of asset classes. The portfolios, to be known as the “meridian portfolios”, will be marketed exclusively to clients of FB Wealth (both existing and new) and can be held within a wide range of product structures.

BMAM will manage both of these services for FB Wealth on a discretionary basis with responsibility for the suitability of the portfolio’s being retained by FB Wealth. The portfolios will be managed by BMAM’s York office led by Claire Bennison, regional director.

FB Wealth is owned by Forrester Boyd Chartered Accountants, one of Lincolnshire’s leading independent accountancy firms, trading since 1935.

In other recent developments, last month Brooks Macdonald said that it plans to open a new regional office in Leamington Spa, Warwickshire, the firm's eleventh office in the UK and the Channel Islands.