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November 30, 2015updated 04 Apr 2017 1:33pm

Davy Private Clients to buy Belfast-based wealth manager PFC

Davy Private Clients, a wealth manager based in Northern Ireland, has agreed to purchase Belfast-based financial adviser Pension & Financial Consultants (PFC) for an undisclosed sum.

By Verdict Staff

Davy Private Clients, a wealth manager based in Northern Ireland, has agreed to purchase Belfast-based financial adviser Pension & Financial Consultants (PFC) for an undisclosed sum.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
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PFC has 4,000 clients and £600m of assets under management.

The transaction, which is subject to approval from the Financial Conduct Authority, is scheduled to complete in early 2016. This is Davy’s third Northern Irish acquisition since 2013.

The acquisition of PFC will bring Davy’s assets under management in Northern Ireland to £1.25bn with more than 65 staff.

Upon completion of the deal, PFC’s directors and staff will relocate to Davy’s new Northern Ireland headquarters in Donegall Square North, Belfast.

Davy Private Clients is also planning a recruitment drive under which it will recruit senior, highly qualified investment and financial planning professionals in Belfast and London.

Davy Group CEO Brian McKiernan said: "We have identified a growing need for high quality and increasingly sophisticated financial advice and wealth management in Northern Ireland.

"By adding PFC we will integrate a team of directors and staff who are of like mind and ensure that we have the scale and resources in Northern Ireland to meet the evolving needs of our growing client base."

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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