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Spouting Rock Financial Partners Launches Asset Management Group; Taps Aberdeen Asset Management Alum Andrew Smith as Chief Executive

September 25, 2018

BRYN MAWR, Pa.--(BUSINESS WIRE)--Sep 25, 2018--Spouting Rock Financial Partners, a diversified financial services firm, today announced the launch of an asset management arm, Spouting Rock Asset Management. Concurrently, the firm said it hired Andrew Smith, formerly Aberdeen Asset Management’s Americas Co-Head and COO, as the new entity’s chief executive.

Spouting Rock Financial Partners was launched in 2006 as a family office and investment consulting firm offering wealth management services to other family offices and ultra-high-net-worth individuals. In 2007, Spouting Rock Capital Advisors, a full-service merchant bank, was created.

“Over the past several years, we’ve had numerous requests to bring our investment philosophy and active investment management approach to products readily accessible by a retail audience – in essence, a ‘Main Street’ version of what our family office clients have had access to for more than a decade,” said Blakely Page, Spouting Rock Financial Partners’ President and Chairman. “The launch of our asset management group is as much a testament to those requests as it is a logical evolution of the Spouting Rock brand.”

Concurrently, Spouting Rock Financial Partners announced that Andrew Smith, formerly Americas Co-head and COO of Aberdeen Asset Management, joined as the new asset management group’s chief executive. Smith, a 30-year investment industry veteran, joined Aberdeen following its acquisition of Murray Johnstone, where he began his career.

“Having an executive of Andrew’s significance join our team is a testament to the company and culture we’ve been building for the past 12 years,” noted Page. “Andrew had a wide range of job offers from which he could choose. He opted to make Spouting Rock his home because he shares our vision for creating an enduring asset management brand that delivers on its promise to investors through active and opportunistic investment management. We couldn’t be more delighted that he’s here.”

“In launching the asset management group, we plan to put our resources towards areas in which we can add the most value. In some cases that will mean partnering with a sub-advisor, and in other instances it will mean hiring an in-house portfolio management team or even taking an ownership stake in an outside one. Our goal first and foremost is identifying the right manager for the products we’d like to offer, regardless of where they are,” said Andrew Smith. “We’re not swinging for the fences or using exotic financial instruments that carry a lot of inherent risk. Nor are we going to offer ‘copycat’ passive products. Instead, we’re entirely focused on hiring and partnering with boutique managers based on their track records, strategy, and performance.”

Smith noted Spouting Rock Asset Management has been incubating a small-cap growth product, which is now available for investment purposes. The fund is slated to receive its one-year number later this year.

For more information on Spouting Rock Asset Management, visit http://spoutingrock.us/.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180925005660/en/

CONTACT: Water & Wall Group

Andrew Healy, 212-625-2363

andrew@waterandwallgroup.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING CONSULTING FINANCE

SOURCE: Spouting Rock Financial Partners

Copyright Business Wire 2018.

PUB: 09/25/2018 09:00 AM/DISC: 09/25/2018 09:01 AM

http://www.businesswire.com/news/home/20180925005660/en

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