Chartered Monetary Planner Craven Avenue Wealth has accomplished its acquisition of Punter Southall Aspire’s Monetary Planning division which was introduced in January.
The deal will increase AUM for Craven Avenue by over £600m to £1.85bn.
The 2 companies are underpinned by a longstanding relationship between Craven Avenue Group and pensions and recommendation agency Punter Southall Group.
As a part of the deal Punter Southall will enhance its minority stake in Craven Avenue Wealth. Punter Southall was a founding investor in Craven Avenue and says it would proceed to again the agency’s development technique.
London and South-focused Craven Avenue says the acqusition creates, “one of many largest impartial Chartered Monetary Planning companies” within the South with 91 staff together with 27 Monetary Planners.
Craven Avenue says that with a rising variety of its Monetary Planners certified to offer specialist recommendation in particular areas it’s “enthusiastic” concerning the alternatives forward.
Purchasers will quickly obtain companies from Craven Avenue Aspire, a buying and selling title of Craven Avenue Monetary Planning. Within the coming months, methods and operational capabilities will switch to Craven Avenue Wealth, the agency stated.
Purchasers will proceed to obtain recommendation and companies from their current Monetary Planner and help crew. Craven Avenue Wealth places of work now cowl London, Bedfordshire, Dorset, Kent, Oxfordshire and Sussex.
The transfer will increase Craven Avenue’s footprint within the South of England and can add places of work in Oxford, Bedford and Poole to current places of work in London, Canterbury and Horsham.
Craven Avenue Aspire will likely be absolutely built-in in the end with Craven Avenue Wealth giving purchasers a wider vary of specialisms, expanded funding proposition, companies, platform applied sciences and methods.
Craven Avenue Wealth was established via the 2021 acquisition of Kreston Reeves Monetary Planning and Christchurch Funding Administration. It has grown since launch organically and thru acquisitions, together with the acquisition of Tarvos Wealth in 2022 and Bernard Barrett Associates in 2023.
Craven Avenue Wealth is a subsidiary of Craven Avenue Group, which additionally contains the company finance enterprise Craven Avenue Capital.
Tom Barnett, managing director of Craven Avenue Wealth, stated: “We’re delighted to be welcoming a like-minded Chartered Monetary Planning enterprise into Craven Avenue Wealth, a observe recognised by purchasers and friends alike. This announcement is an additional, concrete step in the direction of assembly the rising demand for what we provide.”