Redmayne Bentley has acquired the private client business of Blankstone Sington, subject to final regulatory and Court approval.
Liverpool-based wealth manager Blankstone Sington had appointed Leonard Curtis as special administrator on Friday 13 October to secure client assets and safeguard the company’s systems.
The administrators have deemed the best option for Blankstone Sington clients is a transfer of their money and assets to a single FCA regulated broker.
Following a process involving a number of parties, Redmayne Bentley was selected as the preferred candidate.
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Leonard Curtis has confirmed the details of the proposed distribution plan to Blankstone Sington clients and notified them of the plan.
The completion of the transfer is expected in late June. As part of the process Blankstone Sington clients will not be able to speak to Redmayne Bentley until this point.
Redmayne Bentley said the transfer will enable clients to be reunited with their assets and provides them with a secure home.
The firm has previously onboarded large scale transfers of clients from firms including Havelock Hunter, Fyshe Horton Finney, and SP Angel.
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Stuart Davis, chief executive of Redmayne Bentley, said: “We are delighted Leonard Curtis selected Redmayne Bentley. Being a privately owned business of 150 years standing, we look forward to providing these clients with some stability and certainty going forward.
“We are entering the final stages of regulatory and legal approvals but have passed key milestones such as signing of the Sale and Purchase Agreement and submitting Migration Plans to the regulator. We continue to work with other external parties to ensure a smooth transition for clients.”
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