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Financial services company The RU Group is now managing the highest amount of private wealth in its history.

The Nottingham-headquartered has reached a landmark £500 million of assets in model portfolios and investment propositions, which it is managing on behalf of clients.

Bosses put the rise down to a "combination of factors" including increasing its client base in the last financial year and investment in new staff and their ongoing development.

The continued focus on professional development also means The RU Group’s advisers are delivering accurate and effective market advice to clients, ensuring that their money is well managed and that their investment portfolios grow.

Ian Browne, head of advice at The RU Group, which also has offices in Derby and Sheffield, said: "Surpassing £500 million of assets under management is a company landmark for us and has been achieved despite the more challenging market conditions over the past 18 months.

"We have re-invested in The RU Group over recent years, including new senior staff, brand identity and back office systems, and achieving the half billion figure is another indicator of our continued commitment to growth and to the provision of the best service to our clients."

The RU Group can trace its roots back to 1881 but has enjoyed a great deal of success in recent years.

In 2018 it recorded its highest increases in turnover and profit, while earlier this year it announcement investment of more than £140,000 in a new client-facing IT platform to improve the experience of customers.

The group will also soon launch a new website.

Mr Browne added: "It has been a strong start to 2019 for the firm and our clients and with plans for further growth throughout the year, including recruiting new staff at our Nottingham and Sheffield offices, we are on track to build on recent successes."

The RU Group comprises firms including Russell Ulyatt Financial Services, Shevill Parkes Financial Advice and Greenhalgh Financial Services. It officially formed in 2017.