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
M&A
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Succession Wealth buys Leeds-based True Wealth Group
Acquisition provides first entry into Northern Ireland
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Titan Wealth to acquire Ravenscroft Investments
Follows the acquisition of Ravenscroft’s UK investment management business last year
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HL takeover approved by Swiss Competition Commission
Private equity takeover moves closer to completion
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Brooks Macdonald snaps-up financial planner LIFT
LIFT is headquartered in Greater Manchester, with offices in London and Edinburgh
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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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Brooks Macdonald acquires Norwich-based financial planner
The IFA firm has £890m in assets under advice across 1,600 personal clients
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FE fundinfo snaps-up AdviserAsset
AdviserAsset offers a range of tools for financial advisers
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Brooks Macdonald sells international arm to CGWM as it seeks to simplify business
‘We are redefining our strategy to reignite growth’, incoming CEO Andrea Montague said in the firm’s annual results
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Quilter snaps-up NuWealth investing app
Plans to ‘evolve’ NuWealth to help advisers
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Hargreaves Lansdown accepts £5.4bn private equity takeover
Deal expected to close in first quarter of 2025