The parent company of Hawksmoor Investment Management has agreed to acquire Metis Wealth and Metis Asset Management for an undisclosed sum.
Hurst Point Group was established in 2019 to facilitate investment by global investment firm Carlyle into the UK wealth management sector – and bought Hawksmoor and Harwood Wealth Management, which is now Argentis Group.
With 18 people based in west Sussex and London, Metis is comprised of a financial planning and investment management business. Metis has approximately £750m ($903m, €881m) of assets under advice and £190m of assets under management which will take the group’s overall AuA/M to nearly £8bn.
Metis Wealth will become part of Argentis Group, the financial planning division of Hurst Point Group. Metis Asset Management will become part of Hawksmoor, the investment management arm of Hurst Point Group.
John White, managing director of Hurst Point’s financial planning division, said: “We are thrilled to be welcoming Metis into the Group. It has been most enjoyable working closely with founders Simon & George on the transaction over the last six months and we very much look forward to them and the whole team joining the business.
“It is clear that Metis is a first-class financial planning business for high-net-worth clients, and growing our capabilities in this area is an important strategic priority for our business.”
The acquisition comes weeks after Hurst Point bought advice firms D Heaton and Wealth Creation & Management for Argentis Group, and purchased a 100% stake in Gore Browne Investment Management (GBIM) to merge it with Hawksmoor.