Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Rathbone strikes deal to buy financial planning firm

Rathbone strikes deal to buy financial planning firm

Rathbone Brothers has acquired a 19.9% stake in Cornish-based Vision Independent Financial Planning and its sister company, Castle Investment Solutions with the view to taking complete control of the duo in 2015.  

The private client stockbroker has forked out £2 million for the stake, which been purchased from the founders of Vision and Castle, Roger Edwards and Paul Sweaton respectively.

Rathbone, which is headed by chief executive Andy Pomfret (pictured), has also entered into a series of options with the founders which would entitle it to acquire the remaining 80.1% of Vision and of Castle in 2015.

Vision is an independent specialist financial advice network focussing on high net worth private clients, which has an existing discretionary fund management panel relationship with Rathbone. Meanwhile Castle provides administrative services.

The news comes a week after Rathbone struck a deal to buy AIB Jersey to increase its offshore presence.

At 9.30am shares in Rathbone were down 9p at £13.18.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: how career burnout led to a family office launch

Profile: how career burnout led to a family office launch

I was burnt-out from a career in finance and had no desire to come back, says the founder of Blu Family Office

Wealth Manager on Twitter