Four businesses owned by parent company Irish Life merge to form  wealth management advisory firm Unio

Unio is led by Miċeál Gunning Head of Private Clients (left) and Des McGarry (the former MD and founder of Invesco).

Four businesses, all owned by parent company Irish Life, have merged together to form one wealth management advisory firm called Unio after more than three years of planning.

Invesco, Acumen & Trust and APT have all evolved into Unio which will oversee €14bn of assets on behalf of personal and corporate clients. The new firm also expects this position to grow to €20bn by 2027.

“This is the first generation of wealthy middle-class in Ireland and, because that’s happening quite rapidly, the investment infrastructure and the culture of investment in Ireland haven’t really blown up yet," said Michael O'Sullivan, a Unio board director and strategic adviser on investment solutions, who previously served as chief investment officer at Credit Suisse.

Unio is hoping to plug that gap in the market especially through offering digital tools that will make it easier for clients to look at their assets.

The company is headquartered in Dublin and it also has offices in Cork and Limerick, but Unio’s clients are based across the country.

“This is not about luring clients away from other wealth management firms. The fact is, there are so few people taking financial advice in Ireland,” said Miċeál Gunning, head of private clients at Unio.

“It is the nature of the market currently, which presents an opportunity for a new advisory-led player like Unio,” he added.

Traditionally, clients of the companies that make up the newly formed Unio are generally those with in excess of €1m of investible assets. However, Unio is also providing its services to individuals who are looking to accumulate wealth and also need grounded advice.

Most of these clients are entrepreneurs, business owners, SME companies, professional services, and executives in multinational and indigenous firms.

Unio employs 250 people in Dublin, Cork and Limerick, with 130 focused on personal clients.