Ashcourt Rowan has completed the acquisition of UK Wealth Management (UKWM), following the receipt of regulatory approval from FCA.
The acquisition will increase Ashcourt’s nationwide footprint to 17 offices and its assets to over £5 billion, of which £2.2 billion is discretionary and managed.
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The acquisition will allow the group to explore opportunities in financial planning, discretionary fund management and employee benefits and corporate financial planning.
Ashcourt Rowan has acquired UK Wealth Management (UKWM) for £14.25 million in December last year. The deal has added five offices to the company and £1.3 billion in assets under management, of which £300 million is managed on a discretionary basis.
Jonathan Polin, CEO of Ashcourt Rowan, said: "This acquisition gives us scale across our areas of operations, particularly in financial planning and pensions at a time when the spotlight is firmly on the choices individuals have to make and reinforced by the latest budget announcement."
"We are particularly pleased to welcome Gareth Sawyer to the group who will help us drive the opportunities as head of Ashcourt Rowan Corporate Solutions, working side-by-side with Gaius Jones and Harry Burnham as heads of our financial planning and asset management businesses."
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By GlobalData"This is our second acquisition in 12 months and together with the operational changes we have made to our business, we are well-positioned to take further advantage of the growth and consolidation opportunities that are in the sector," he added.
