Skerritts gains client bank after adviser retires

Hove-based Skerritt Consultants has gained a £12 million client bank from an adviser who has retired due to the retail distribution review.

Adviser Warren Tennant, who has now retired, joined Skerritts in 2010 and has now completed a two-year transition and buyout period.

Mark Cardy (pictured), Skerritts director, said both sides had benefited from the deal. ‘Everyone’s won out of it,’ he said. ‘Someone who wanted to retire has managed to transition their business, and we’ve added to what we do. Because we’ve had time to work with Tennant, we’ve been able to make that a really easy journey for clients.’

‘Warren had a good business model and he used platforms, so he was quite aligned to what we do,’ he added.

Cardy said the firm planned to nearly double its discretionary assets from £170 million to £300 million by the end of 2014 and increase adviser numbers from 15 to 25 across its London and Hove offices by the end of 2013.