THREE former bankers have set up a wealth management consultancy aimed at helping those with high personal wealth to manage their assets.

The trio, David Spencer, Mark Stanbury and Steven Hall, all in their early 30s, have formed Chartered Wealth Management in the town with a view to developing close financial relationships with people of high worth in Bolton and further afield.

Their service is aimed at helping those who own and run businesses, have high incomes, large pension pots or high value homes, to make the most of their assets in whatever form they may be.

The men, from across the region, have all achieved the lofty status of Chartered Financial Planners, which takes years of study and imposes strict conditions on how they conduct their business.

They are part of an elite 58 strong group of Chartered Financial Planners in the North West and set up their office in Chorley New Road, Bolton, because of ease of access to Manchester and the motorway network.

Mr Spencer said: “We are not commission led because that can cause conflicts of interest with out clients. We are client-centric in every way possible so our fees are based on the level of wealth of the particular client. This way it makes sure that commission fees do not influence us in any way.”

The men moved away from banking following the global economic crisis to enable them to concentrate on working solely in their clients’ interests rather than be tied into certain banking products.

Mr Hall said: “We are trying to be alternative in a way with our wealth management advice — we can help people buy a car, or a house, a plane or just a holiday — we might not get paid for that but it is all part of our highly personal service for our clients.”

Mark Stanbury added: “Obviously our primary market will be the top end of high earners but there is nothing to stop us advising others who have less wealth. We all want to make sure we act solely in the best interest of our clients and that we have access to all the products in the market.”

The new company officially launched on July 1 and the men, once they have established the basis of their business, plan to grow it steadily over the coming years.