Balmoral Asset Management eyes Dundee office as Tayside business grows

Edinburgh-based wealth management company Balmoral Asset Management is considering opening an office in Dundee.

Balmoral is turning its gaze towards Tayside as a a result of the level of business it has acquired through its pairing-up with City of Discovery firm EQ Accountants.

The last year has seen Balmoral enlist about 80 clients in the area through the partnership.

Previously, the majority of Balmoral’s clients are in Edinburgh, London and Fife.

Founded by Managing director Stuart MacDonald, the firm employs a team of 27 staff and recently recruited four university graduates as a statement of the business’ intent to invest in its own future.

Mr MacDonald said Balmoral offers a service that complements the range of accountancy services offered by EQ.

Specifically, Balmoral offers longterm wealth management to private clients based on its knowledge of investments, tax planning and also pensions.

Mr MacDonald said: “Since we began working with EQ we found that there was a real demand for our service – so much so that we now have about 80 clients in the general Tayside area.

“We are now looking at how best we can serve them and continue to grow our business, and opening an office in Dundee is an option we are looking at,” he added.