Wed, 20 Sep 2023 | BUSINESS SALE
A pair of recent acquisitions have helped The Wren Sterling Group add around 1,000 new clients and more than £400 million in assets under management. The group recently acquired The Stockdale Group and, in July, completed the takeover of Guildford-based independent financial adviser (IFA) Messer & Matthews Ltd.
The Stockdale Group comprises financial advisory firm Stockdale & Co and discretionary fund management (DFM) firm Stockdale Asset Management. The company brings with it approximately 700 clients and 12 members of staff.
The acquisition of the Bodmin-based firm significantly strengthens Wren Sterling’s presence in the South West of England, with the group’s Chief Executive James Twining saying the region had “always been a bit of a gap” for the company, despite “being a region with increasing wealth, fuelled by the trend to move out of London post-pandemic.”
Twining continued: “The timing is perfect for us and allows us to increase our footprint in the same way we have done with the North-West and Northern Ireland in the last twelve months.”
He added that Stockdale’s client base and co-founder Keith Stockdale, who will retain a stake in the business post-acquisition, “will be central to developing our brand in the Devon and Cornwall area”.
The deal follows Wren Sterling’s acquisition of Guildford-based Messer & Matthews Ltd in July, which brought around £150 million in assets under management and 300 clients. Director Charles Matthews will remain with the business following the acquisition.
James Twining commented: “Messer & Matthews is a fantastic IFA business. Charles is a highly qualified adviser who has provided an exemplary service to clients over the years, and I’m excited to have him in Wren Sterling to drive up standards through his example.”
Find out more about the ongoing wealth management dealmaking boom
With succession planning in place, this is a great opportunity to gain a presence in Scotland with qualified advisers and back-office support.
Opportunity to acquire a single adviser FA, this practitioner has 140 households so you will be managing profitable clients.
A highly aligned business with three providers mostly used means integration will be smooth, reducing the cost of the acquisition.
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