Clubfinance is a
financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
company headquartered in
Bristol
Bristol () is a city, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire to the north and Somerset to the south. Bristol is the most populous city in ...
,
UK. The firm acts as intermediary for a number of different
fund and share dealing platforms. It previously arranged tax efficient investments such as
venture capital trusts and
Enterprise Investment Scheme The Enterprise Investment Scheme (EIS) is a series of UK tax reliefs launched in 1994 in succession to the Business Expansion Scheme. It is designed to encourage investments in small unquoted companies carrying on a qualifying trade in the United Ki ...
s for private investors on a non-advised basis.
In January 2018 the company was acquired by
Wealth Club, a Bristol-based specialist broker of tax-efficient investments.
History
Clubfinance was founded in 2002 by David Scrivens and Philip Rhoden, who ran the company from David's spare bedroom until the company moved into offices in 2005. Clubfinance diversified into providing financial modelling services until the modelling services were demerged into a separate company, Clubfinance Project Finance, in May 2012. In July 2012 the company launched its share dealing platform in conjunction with stockbroker James Brearley, targeted at investors that traded shares more than once a month.
After talks with competitor
Intelligent Money in late 2012, Clubfinance was able to buy its direct to consumer client book, including assets under management of around £100m. In 2013 it also acquired the client book of
Ivan Massow's Paymemy.com business, which was experiencing financial difficulty. Following the
Retail Distribution Review
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985 ...
, the company changed the charging structure of its share dealing service, making its annual percentage fee lower but the charge per trade higher.
Acquisition by Wealth Club
The company was acquired by Wealth Club Ltd on 9 January 2018. It operates as a fully owned subsidiary offering fund and share platforms, with the tax-efficient investment offering now consolidated under Wealth Club.
[{{cite web, url=https://www.investmentweek.co.uk/investment-week/news/3024139/wealth-club-acquires-execution-only-broker-clubfinance, title=Wealth Club acquires execution-only broker Clubfinance, publisher=Investment Week, date=January 10, 2018]
References
Companies based in Bristol
Financial services companies of the United Kingdom
Financial services companies established in 2002
2002 establishments in England
British companies established in 2002