Wed, 09 Oct 2024 | MBO/MBI
Clarion Wealth Planning Limited, a financial planning firm based in Alderley Edge, has transitioned to management ownership. Founder and longstanding owner Ron Walker (pictured) has sold the majority of his shareholding in the company to its existing management team.
The firm was founded in 1985 and was initially based in Knutsford, prior to relocating to its current location. Ron Walker established the company 39 years ago and, following the transition to management ownership, will remain with the business for at least five more years. Chairman Keith Thompson will also continue with the company for the foreseeable future.
The existing management team, led by John Winstanley alongside Adam Wareing, Matt Sherratt and Alistair Cartwright, has now acquired a 60 per cent shareholding in the business.
A key component of the deal was ensuring that Clarion remains independently managed and is not absorbed by a larger consolidator. The company has been family-owned since its inception, with shares owned by Ron Walker and other family members.
Ron Walker, also a founding member of the Institute of Financial Planning (now part of the Chartered Institute for Securities & Investment), said that his goal in founding the company was “to build a financial planning firm that was commercially successful but compassionate and holistic”.
Walker said that, with the help of the team, this ambition had been realised and that the company had many clients that “have worked with us across multiple decades and multiple generations”.
"Going forward,” Walker added, “Clarion will remain in the hands of those who have played an integral role in growing and nurturing the business into what it is today. So, clients can trust that our commitment to excellence and care will continue and that their relationship with Clarion and their financial planner will remain."
John Winstanley said: "Our commitment to delivering the highest level of service remains unchanged, and Ron will continue to work with Clarion over the next five years to ensure a smooth and seamless transition.”
The management team was advised on the transaction by Jon Davage and Laura McMorland at the Manchester office of Bermans Solicitors.
Read more about M&A trends in the wealth management sector
Post-deal integration is perhaps the most important stage of any M&A transaction and is absolutely critical to its success
The company provides individuals and businesses with bespoke, impartial financial advice, specialising in tailored support relating to mortgages, property finance and personal insurance.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
Offered for sale progressive IFA with an average household age of 56, there is room for further portfolio accumulation.
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