New wealth management business K2 Private Wealth has partnered with private equity firms to offer clients access to alternative investments, but when it came to backing the business, the decision was a resounding ‘no’ – at least for now.
Blake Anthony Reddy, co-founder and partner of the business, which operates under the K2 umbrella, told FT Adviser the business was founded on the premise of full independence and flexibility when it comes to adapting to consumer needs.
He said bringing on board an institutional investor like private equity would have added external pressure the founders were not willing to accept at this early stage, though “strategic partnerships” were not completely out of the picture in the firm’s future.
Reddy said: “We made the decision not to seek private equity backing at this stage because we believe in building something client-led and long-term, free from short-term external pressures.
“The financing has come from a combination of founder investment and reinvestment of early revenues, allowing us to maintain full control over the direction of the business while ensuring that client interests stay at the centre of every decision we make.”
K2, which spans a number of divisions including wealth, FX and, soon, mortgages, was founded to bring together private client support across a variety of markets, without the need to hit the £5mn wealth level Reddy says many investment banks are asking for these days.
“We saw an opportunity to build something more complete, personal, and independent — offering strategic advice and access to sophisticated solutions under one roof,” he said.
“Now felt like the right time: client expectations are evolving, the regulatory landscape is shifting, and there’s a real demand for clarity, trust, and joined-up thinking.”
K2, which is borrowed from the world’s second tallest mountain known for its savage climbing conditions, is supposed to signal elevation, precision, and resilience, said Reddy, “all qualities we believe are essential for long-term financial success.”
Flexible approach
K2 aims to bridge a gap in the market, which its founders defined as a “lack of truly holistic advice” that connects wealth, FX, corporate finance, and insurance services, and an “over-reliance on templated solutions”, rather than personalised advice built around individual goals.
Reddy explained he saw a tendency these days for advice firms to be provider- rather than client-led, and lacking innovation in service models.
He pointed to centralised investment propositions, standard model portfolios, and fixed annual review structures as ‘templates’ which could lead to clients being put into pre-determined solutions that might not adapt well to changes in their circumstances.
To pre-empt this issue at K2 client relationships are more dynamic, he said, with some clients having scheduled discussions monthly, while other have them annually. And the business is open to changing its approach over time.
Portfolios are also built bespoke where appropriate, as opposed to relying on an MPS.
“At K2, we see our role as building truly flexible, evolving strategies, personalised around each client’s goals, assets, and opportunities over time,” Reddy said.
“Rather than focusing purely on products, we focus on outcomes and long-term planning, offering advice that evolves with clients’ needs, not just at a single point in time.
“We also partner with leading private equity and venture firms to offer clients access to EIS opportunities and investments in high-growth private companies — a level of alternative investment access typically reserved for institutional or ultra-high-net-worth clients.
“Crucially, we operate without legacy constraints. We can move quickly, adopt new technologies, and shape our services around what modern clients actually want — transparency, personalisation, flexibility, and genuine independence.”
Synergies
K2 Private Wealth’s typical client is a professional, entrepreneur, senior executive, or business owner, with investable assets between £500,000 and £5mn and often requiring advice that bridges their personal and corporate financial lives.
K2 operates across multiple disciplines — wealth management, FX, corporate finance, protection, and soon mortgages.
Clients’ financial needs are never just about investments
Reddy said there were natural crossovers between them: clients investing internationally often have currency needs; business owners raising capital might also need pension and wealth advice; and property purchases create demand for FX, mortgage, and insurance support.
He said: “Clients’ financial needs are never just about investments. Property and protection are major parts of their overall financial wellbeing.
“By offering mortgage and insurance solutions, we can support clients holistically — not just growing their wealth, but helping them protect and leverage it.
“It’s about providing truly comprehensive advice, rather than sending clients elsewhere for critical parts of their financial lives.”
Looking to the future, Reddy believes the advice market will be divided between firms that are agile, personalised, and client-focused — and those that are still structured around old models.
“Clients increasingly expect integrated services, faster communication, and advice that spans multiple needs, not siloed solutions,” he said.
“Regulatory pressures, technology, and client expectations will drive a shift towards fewer, stronger client relationships — with firms offering value across the full financial spectrum, rather than specialising too narrowly.
“At K2, we’re building with that future in mind from the start.”
carmen.reichman@ft.com