PwC: 81% of wealth managers are eyeing up consolidation or M&A
There is an ‘urgent need’ for firms to adopt ‘transformational’ new technology, and consolidation is the fastest route
acquisitions
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Succession Wealth buys Leeds-based True Wealth Group
Acquisition provides first entry into Northern Ireland
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Canaccord Genuity completes acquisition of Cantab Asset Management
Investment professionals and support staff at Cantab will keep existing roles
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Tavistock to sell two business arms to fund ‘potential future acquisitions’ and buy back shares
Some 30% of shareholders have already voted in favour of the sale to Saltus
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Hargreaves Lansdown accepts £5.4bn private equity takeover
Deal expected to close in first quarter of 2025
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Hargreaves Lansdown extends deadline for proposed acquisition
Comes after additional extensions from June bid
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Nucleus completes Third Financial acquisition
Deal expands Nucleus’ AUA to £97bn
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Hoxton Capital Management snaps-up two IFA firms
Alpha Financial Services and Bartholomew Financial Planning
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Söderberg and Partners continues UK expansion with stakes in four IFA firms
The Swedish wealth manager has now made investments in 11 UK firms