London & Capital launches private investment office

London & Capital has launched a private office targeted at ultra high-net-worth financial services professionals.

The new department will be led by L&C partner Iain Tait, who said there is a gap in the market for wealthy people looking for a better service than traditional wealth management, but without the expense of setting up a private family office. "There has been a gap between wealth management and a term we have completely abused in the UK - family office," Tait explained. "I think that space is a very interesting one to try and fill." He said the standard of service offered at many wealth management firms had become "diluted" and many wealthier clients had outgrown their existing manager....