The change is to reflect, “the complementary nature and close working relationship” between Heartwood and Handelsbanken since it was acquired by Handelsbanken in 2013

Heartwood’s wealth management business will become Handelsbanken Wealth Management, while the asset management business, Heartwood Investment Management, will become known as Handelsbanken Asset Management.

The rebrand will see changes to the names of the firm’s funds, which will replace the prefix 'Heartwood’ with 'Handelsbanken'.

A new website has also replaced the existing Heartwood and Handelsbanken Wealth websites, bringing the Handelsbanken Wealth & Asset Management’s advice and investment capabilities together on a single site.

Graham Turner, CEO at Handelsbanken Wealth & Asset Management, said: “Heartwood has been part of Handelsbanken for seven years, and the name change reflects our desire to be a fully integrated business.

"It is a natural step in our evolution and will ultimately enable us to deliver more value to our customers, with a best-in-class wealth and investment management proposition.”