TMGA Wealth Management, which was established during the Covid-19 pandemic, is celebrating one year in business.
Based in Jersey’s International Finance Centre, TMGA was established early last year, after the four founders identified an opportunity to build a unique wealth management company, offering a different level of client experience.
Anthony O’Keeffe, Tim Sanders, Michael Caetano and Greg Powell, brought together their institutional, multi-disciplined and multi-jurisdictional experience to create a boutique, director-led wealth management business, providing discretionary portfolio management for private clients across core investment strategies.
The business now employs a team of ten specialists, and is made up only of senior industry professionals, who bring a depth of Investment Management expertise, which is complemented by extensive Trust and Fund experience.
“This unique blend of specialisms is somewhat unusual in the wealth management world and really helps us to holistically understand the different needs of our clients,” commented Managing Director, Norma O’Sullivan.
”Launching in the pandemic certainly added some complexity,” said Norma. “From the remoteness of selecting counterparties, suitable office space and building a business infrastructure, through to restrictions on travel and face to face meetings, particularly as personal contact with our clients is something that we hold precious, there were some challenges to navigate. Fortunately, as a new business, we were able to build the IT infrastructure and Information Security framework with full remote capability from the outset, so we didn’t need to adapt to a home working model.
“It was important to us that we built strong foundations for our business both from a governance and an operational perspective. We established the business early 2021 and secured our licence from the JFSC in May, taking our time to ensure we had a robust governance and operational framework in place before going to market.
“We also took incredible care when choosing our team – it is made up of a blend of two senior teams who had previously worked together and boasts complementary experience, an equal gender mix and every team member sharing similar values. It is this unrelenting pursuit of excellence, both in our team and our approach, that sets us apart and enables us to deliver exceptional client service,” added Norma.
With security of client assets top of mind, the team chose to work alongside Pershing as the custodian to its clients’ assets. “Pershing has over $2 trillion in global assets under custody and as part of Bank of New York Mellon, Pershing is a well-known, robust, large custodian – we are delighted to work closely with them. Both Pershing and TMGA have invested a lot of time to understand each other’s requirements and to align our processes to ensure we have a seamless operational framework,” commented Tim Sanders, Senior Investment Director.
“It’s an exciting and interesting time in the wealth management sector with many trends and opportunities, including technology developments that enhance clients’ digital experience, and consolidation in the sector. The next generation wealth transfer and rising wealth amongst women are also two of the most interesting trends to impact our industry for decades,” added Tim.
“We are delighted to be celebrating a successful first year in business. It has been a strong start, welcoming new clients, setting up our new offering during the most challenging of times, and we look forward to redefining the experiences of clients of the wealth management sector,” concluded Norma.
The main picture shows TMGA managing director, Norma O’Sullivan with three of the founding directors (left to right), Michael Caetano, Tim Sanders and Greg Powell.