Investment consultant Bacon & Woodrow has extended its business to offer its analytical and market research services to fund managers on a commercial basis.

Bacon, which recently announced a merger with US consultant Hewitt Associates, has established the financial institution's team with eight consultants headed by partner Sally Bridgeland. Two more consultants, probably people with an aptitude for mathematics and analysis, are currently being sought. The team's main focus will be servicing fund managers, and the advice would create a useful flow of fee income.