Financial services business Raymond James is this week officially opening its new Manchester office.

The new Raymond James office based on King Street – headed up by founding members Mark Parello and Matthew Singleton – will offer a fully integrated financial planning and discretionary investment management service.

Raymond James was founded in 1962 in the US and has been operating in the UK since 2001. It is the second fastest growing financial services business in the country and the group has £350bn in assets under management and a market cap of £5.9bn.

The Raymond James team in Manchester works across various sectors and acts on behalf of businesses & business owners, private individuals & their families, pension funds, charities, partners in professional practice as well as for clients in the sports, media and entertainment industries.

Mark is a chartered wealth manager and both he and Matthew have extensive experience across a number of disciplines including; private banking, financial planning, investment management, stockbroking and trading. Much of Mark’s career has been spent working as a private banker at NatWest. He has also has held positions at the financial planning firm Millen Capital, and was an investment manager at WH Ireland. He is a trustee for Manchester Art Gallery and Henshaws Society for Blind People.

Matthew joined private client stockbroking firm James Brearley & Sons in 2005. He worked his way up to a senior position on the trading desk before joining WH Ireland as an investment manager in 2010 where he met Mark.

As well and Mark and Matthew, there are two other founding members of Raymond James King Street; Clive Garston and Samuel Wright (see below notes to editor for detailed information).

Clive has been on the boards of a number of public and private companies and has been the deputy chairman of a fully-listed company and chairman of a number of AIM companies. He is a fellow of the Chartered Institute for Securities and Investment (CISI) and deputy chairman of its corporate finance forum.

Mark Parello commented: “We are incredibly excited about the launch of Raymond James King Street. Our diverse experience in the industry has enabled us to be innovators, allowing us to think differently and in turn see a better and more efficient way of providing wealth management advice.

Our financial strength is another standout attribute as Raymond James has a market cap of £5.9bn and runs over £350bn in assets globally. This puts us at a huge advantage as it provides us – and our clients – with extensive security and resources; from security of assets, to world class investment research via 80 internal analysts – many of whom are award winning – to cutting edge technology and dealing systems.

Mark added: We believe that we are offering a truly integrated financial planning and discretionary investment management service that will eradicate unnecessary layers of fees. We put these back into our portfolios which will provide better returns over time.”

Mark concluded: The ultimate aim is to have 1000 financial planners distributing our service across the UK. I believe that by starting in Manchester we already have a fantastic head start thanks to the city’s supportive network and entrepreneurial spirit.”

Matthew Singleton said: “A large part of the industry tries to over complicate and confuse clients with various complex and expensive investment strategies. Our approach is transparent, cost effective and clear.”