Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a624478
Rathbone strikes deal to buy financial planning firm
by Dylan Lobo on Oct 08, 2012 at 07:37
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.
News sponsored by:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
More about this:
Look up the shares
More from us
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
by Dylan Lobo on May 16, 2013 at 16:17