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Harwood acquires Wellian Investment Solutions

Harwood acquires Wellian Investment Solutions

Harwood Capital Management has acquired Wellian Investment Solutions for an undisclosed sum.

Wellian claims it will maintain a 'clear sense of identity' going forward as Harwood chief executive Alan Durrant said there are no plans to rebrand Wellian due to its strong brand identity in the Kent area.

Harwood says this completes the organisation and has called this acquisition 'the final piece of the jigsaw.'

Both companies will continue to work in their offices (Harwood in London and Wellian in Tunbridge Wells) but Wellian managing director Eric Clapton will be leaving the firm over the coming weeks, staying on in a consultant role.

Additionally, Durrant said the firm will be carrying out an 'extensive mapping' review of people's roles in the organisation, recognising where efficiencies can be improved.

Durrant said: 'We are delighted to have concluded this important acquisition. We have been working hard to create a holistic wealth management business and Wellian is a critically important part of this.'

Wellian managing director Eric Claption (pictured) said: 'This represents a hugely positive step in the evolution of Wellian. We are particularly excited about the addition of the Discovery Funds, which complements our current award-winning offering.'

This acquisition follows a spate of consolidation in the wealth industry, including the recent double acquisition by Bellpenny buying Caledonia Edinburgh in Scotland and Rawson Steel in the Midlands. Meanwhile Belfast-based Davy Private Clients acquired Northern Irish wealth business Graham Corry Cheevers.

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