Source reaches milestone in assets under management and continues to expand

Source has attracted US$ 3.6 billion of net new assets so far in 2015, helping the firm reach a new milestone of US$ 20 billion in assets under management….

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David Lake, Managing Director, UK coverage at Source

The firm is expanding beyond the traditional institutional market and is now seeking to meet more effectively the needs of a broader range of investors and advisors.  This expansion involves the addition of Bhavick Patel to the UK coverage team and is accompanied by a multi-million pound advertising campaign to raise brand awareness.

Bhavick Patel is responsible for regional coverage of independent financial advisers in the UK.  Prior to joining Source, Bhavick spent two years at Capital Group in a business development role and, before this, was at BlackRock for five years with the majority of his time working in the iShares sales team covering asset managers and private banks.  He began his career at Morgan Stanley where he spent two years managing collateral exposure on equity and fixed income derivative portfolios.  He holds a Bachelor of Science in Economics and Management from Royal Holloway University of London.

David Lake, Managing Director, UK coverage at Source, said: “We are delighted to welcome Bhavick to the team.  We now have 10 individuals focused on the UK, with four of them dedicated to independent financial advisers.  In a recent survey commissioned by Source, 44% of IFAs polled said they have been recommending more passive investments such as ETPs to their clients since the Retail Distribution Review.  However, only 1% of those surveyed said they were ‘very familiar’ with ETPs, with a further 22% saying they were ‘slightly familiar’. Given that ETPs are relatively new to many IFAs, we are focusing on education and are particularly keen to work with IFAs to help them meet the needs of their clients.”



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