Ravenscroft, the stockbroker and investment manager chaired by Stephen Lansdown, is to acquire precious metals business BullionRock for an undisclosed sum.
The deal will effectively see BullionRock bolted on to Ravenscroft in a move that will enable the Guernsey-based wealth firm to broaden the range of services it offers.
Ravenscroft managing director Mark Bousfield said he believes particularly makes sense, given the uncertain investment outlook with many stock markets at or near all-time highs.
‘Investors are becoming increasingly knowledgeable and we have seen an increasing demand from them for parts of their portfolio to be invested in precious metals. Given the continuing uncertainty in the global markets, investors are comforted by the fact that they are invested in something which, if they want to, they can physically touch,’ he said.
‘We want to ensure that as a group we can offer our clients the investment opportunities they are asking for and so the acquisition of BullionRock will further diversify our offering.’
BullionRock was founded in 2012 by Robin Newbould, who has built the business up to more than 500 clients, who hold an undisclosed but ‘substantial value’ of gold, silver and other precious metals.
He said: ‘We have no immediate plans for change and so it will be very much business as usual at BullionRock. We do, however, see real potential for our clients who will gain access to a full range of stockbroking and investment management services as a result of our business becoming part of the Ravenscroft Group.
‘Our business has built its reputation on offering a safe asset in a safe haven. It is a very personal business which treats clients as individuals and is committed to transparency. We share those characteristics with Ravenscroft along with our excellent reputation in exceeding client expectations.’