The new location is its third regional office since 2020.

The new Bristol office will offer a range of services, including investment management and Financial Planning.

The company has also opened offices in Birmingham and Manchester and has made 18 new hires for its regional bases in the past three years.

Schroders also has a joint venture Financial Planning arm called Schroders Personal Wealth, run in partnership with Lloyds Banking Group.

Cazenove says that its regional expansion is because HNW and UHNW clients, a core target market for Cazenove Capital, increasingly want a local service.

Karan Sejpal, head of UK regions, Cazenove Capital, said: “Clients are increasingly looking for a personalised, local service to achieve their long-term financial objectives.

“We’re thrilled to open our new Bristol office, representing a significant milestone in our regional growth strategy. By expanding our local office network, it helps us to deepen relationships with a new wave of high and ultra-high-net-worth clients, and better understand their needs.”

The new Bristol office will also focus on working with the local professional services sector.

Robert Nye, regional head - South West & Wales, Cazenove Capital, said: “We are delighted to be opening a permanent new office in Bristol. We look forward to welcoming clients and professional colleagues for many years to come.

“The client adviser team will offer a comprehensive range of wealth management services, including investment management, Financial Planning and banking."

The new office in Bristol is located at 10 Victoria Street in a building that dates from 1875 and was originally home to Platnauer Brothers - watchmakers and jewellers.

Cazenove Capital has partnered with a local charity, Creative Youth Network and will be displaying artwork by its young artists.