Guildford-based broker Stackhouse Poland is to launch a new joint venture company to boost its high net worth (HNW) business.
The broker, which specialises in HNW private clients, SME and the charity sector, also revealed it was set to make two acquisitions as it looked to increase fee and commission income from £5m to £8m over the next year.
The joint venture will see Stackhouse Poland team up with HFM Columbus, a financial services company, to form HFM Columbus Insurance Service.
Last year, the company launched joint venture company Green Park Insurance Services, a specialist in HNW private clients and the commercial property market, with Alexander Associates Group.
Jeremy Carey, Stackhouse Poland managing director, said of the new joint venture: “We will be working with high net worth managers and we will be doing the insurance business side to help them
“We would hope to have £500,000 in HNW premium in the first year.”
Stackhouse Poland currently controls premiums approaching £30m.