Press release - 5th of October 2016 - Manentia Wealth Consulting Group (MWC) to acquire Liberty Wealth Management SARL

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  • Press release - 5th of October 2016 - Manentia Wealth Consulting Group (MWC) to acquire Liberty Wealth Management SARL

Press release - 5th of October 2016 - Manentia Wealth Consulting Group (MWC) to acquire Liberty Wealth Management SARL

&

  • A perfect mix of vision, culture and business
  • Efficiency gains through a streamlining of business operations
  • Provides a fantastic opportunity to generate strong, sustainable and profitable growth
  • Access to a greater depth of talent pool and resources to generate future innovations aimed at offering current and future clients a more bespoke service
  • Has increased the resources of our centralised Asset Management Team

MWC have entered into a definitive agreement today where they will be acquiring Liberty Wealth Management Sarl. Following years of collaboration between the two companies, where new projects were developed for their mutual benefit and a deep understanding of how each company operates within the financial services industry was gained, a decision was reached to merge both units.

With MWC predominantly covering Zurich, Zug, Lucerne and up to Bern in the east and Liberty covering Geneva, Lusanne, Vevey and up to Bern in the west, the combined Swiss company will offer full coverage of Switzerland. Further to this, as 50% of our clients are International our service commitment continues for our Internationally mobile clients.

Statement by MWC

"This was a great opportunity to further the company allowing it to expand, all the while, our increased back-office capacity can facilitate providing our clients an excellent service going forward. Having had known and worked strategically previously with the Liberty Wealth team it has been an easy transition. I look forward to our future togther in the years ahead"

Robert Midgley

Statement by Liberty Wealth

"The time was right for this merger to proceed. MWC have a fantastic back office which will really benefit all our existing clients. All our new clients, meanwhile, can be confident that they are getting the same, high quality investment advice that they deserve. The problem I foresaw going forward was running out of time to deal with all our clients as we continued to grow. By combining our operations department with MWC’s back office we will be able to create synergies and a highly efficient scalable structure which can deal with large volumes going forward."

Iain MacRitchie

About MWC

Manentia Wealth Consulting Group (MWC) was founded in Switzerland in 2010. Being an independent firm of financial advisers and asset managers MWC Group is not tied to any financial institution or product provider. As such, our consultants, are free to consider products from the entire Swiss and International markets.

The people at MWC Group understand the needs of high net worth and high earning individuals. Although many of our clients are relatively wealthy, every one of them is different, so off-the-shelf solutions are not an option. Some of our clients utilise all our services, whereas others require no more than one.

About Liberty Wealth

Established at the beginning of 2010 and formed as a result of an independent break away from a large, international investment management group, Liberty Wealth has quickly grown in it’s own right to become a leading name in the world of independent wealth management.

Although we work with some of the largest financial institutions in the world, Liberty Wealth remains in the envied position of being entirely independent from one controlling bank or parent company. This independence allows us to work on the sole behalf of our clients, with no bias towards a particular provider or product.

With a central hub in Geneva, Switzerland we are proud to manage the financial concerns of private clients all around the world.

New Trading Entity

The new combined group will trade under MWC Group. This will offer all clients and prospective clients the security of dealing with one of the few Independent Financial Advisory firms in the Swiss market, catering for international clients, that is regulated for investment, pensions and insurance advice.

MWC Group Regulation Details

Swiss Financial Market Supervisory Authority

FINMA - (www.finma.ch)

FINMA is Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies. It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.

As a registered ‘Insurance intermediary’ with FINMA, MWC Group can operate without being tied to any company. This facilitates our independent ability to identify and recommend the best products available in the market through direct terms of business with providers.

To be registered as an ‘insurance intermediary’ with FINMA requires high level recognized qualifications. Our consultants and also several administration staff have acquired these along with industry experience. In addition, FINMA require necessary company liability insurances to protect clients.

Polyreg - (www.polyreg.ch)

Persons or legal entities with legal domicile within Switzerland and acting as financial intermediaries have to be regulated by law. They may join one of the self-regulating bodies or apply for a permit to the Money Laundering Control Authority.

PolyReg is a self-regulatory body recognised by the Swiss Federal Money Laundering Control Authority. It is established according to Article 24 of the Swiss Money laundering act (MLA) and acts as regulatory and supervising Organisation for its members.

Link to PolyReg Membership confirmation

Polyasset - (www.polyasset.ch)

FINMA prescribes a set of professional rules that set the standards with which asset managers must comply in the performance of their duties. Asset Managers may uphold these professional guidelines through their membership to PolyAsset on a voluntary basis. With this, they are required to meet minimum standards with regards the terms of their asset management contracts and their fiduciary obligations towards investors. They are authorised to use Collective Investments and in recognition of their adherence to the FINMA and the PolyAsset standards, are entitled to use the PolyAsset logo of quality.

Entry in the PolyAsset Asset Managers register

MWC Group Professional Membership

Insurance Institute of Switzerland (IIS)

Through our membership with the IIS, a non-profit organisation, MWC contributes to promoting high levels of professional qualification in the Swiss insurance industry through targeted training and education.

Chartered Insurance Institute (CII)

All our consultants have a long-standing membership with the CII. The CII is the world's largest professional body dedicated to insurance and financial services and it exists to promote higher standards of integrity, technical competence and business capability. With over 120,000 members in more than 150 countries, the CII membership covers all disciplines within insurance and financial advice. The institute provides accreditation and professional qualifications to UK and International members.

MWC Group is the trading name of Manentia GmbH, registered in Switzerland (company registration number CH-170.4.010.039-7). Manentia GmbH is FINMA authorised (number 29575) and member of Polyreg (www.polyreg.ch).