View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 19, 2022

Harwood Wealth Management Group acquires two IFA firms in UK

Harwood Wealth Management Group, owned by Hurst Point Group, has purchased two independent financial advisers (IFA) for an undisclosed sum.

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.

The newly acquired firms include D Heaton and Wealth Creation & Management, based in Newcastle-under-Lyme and Christchurch in the UK, respectively.

The deal has allowed Harwood to incorporate £100m of assets under advice (AUA), along with 400 clients and six new employees.

In addition, Harwood Wealth Management is set to be renamed as Argentis Group starting next week.

The renaming is anticipated to combine various divisions of the company’s financial planning business into one group, offering better clarity to its customers.

The name of Argentis is derived from one of Harwood Wealth Management’s earlier takeovers known as Argentis Financial Planning, which was the wealth unit of Arthur J Gallagher, reported Financial Times.

Harwood Wealth Management bought Argentis Financial Planning in December 2020, representing the largest financial planning deal carried out by the company. The deal has enabled Harwood Wealth Management to add 5,000 new customers.

The company currently includes 100 IFAs with around £3bn AUA.

In March 2020, Hurst Point Group, a subsidiary of global equity firm Carlyle Group, bought Harwood Wealth Management Group for £91m.

Before the acquisition, Harwood Wealth Management Group obtained fund from Harwood Capital and was listed on London Stock Exchange’s Alternative Investment Market (AIM) segment in 2016.

With the latest deal, Harwood’s name is set to be changed after a transitional period.

Hurst Point Group managing director John White said: “As we return the Harwood brand, we are excited to build and grow under the Argentis banner.

“We have taken the time to develop a branding identity that represents our values and demonstrates what we bring to client relationships.”

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.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International