British accountancy firm MHA MacIntyre Hudson has acquired an ownership stake in wealth manager Cave & Sons to bolster its tax, advisory and wealth services for high-net-worth (HNW) customers.
Financial terms of the transaction and the size of the stake were not revealed.
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Founded in 1906, Cave & Sons provides discretionary and advisory wealth management and of independent financial advice.
As part of the deal, the firm will be renamed MHA Caves Wealth to signify its alliance with MHA.
Additionally, MHA Caves Wealth’s investment managers and financial advisers will work with MHA’s private wealth client teams across the latter’s regional office network.
The firm will become a core part of MHA’s private wealth offering. It will continue to cater to its existing clients.
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By GlobalDataThe deal is expected to help both the firms cater to the growing client demand for holistic private wealth service, which combines discretionary and advisory wealth management as well as tax planning and other accounting and advisory services.
MHA MacIntyre Hudson group chairman Rakesh Shaunak said: “Increasingly owner-managers and HNW individuals want to see a comprehensive and fully integrated range of advisory and investment services from their providers.
“Our partial acquisition of Cave & Sons, now MHA Caves Wealth, further strengthens our ability to provide this service.”
Cave & Son CEO Simon Harvey added: “The partnership between MHA MacIntyre Hudson and MHA Caves Wealth is also a springboard for future expansion.
“With MHA MacIntyre Hudson’s network of offices and clients throughout the UK and the skill and experience of its private client team behind us, MHA Caves Wealth can look forward to bringing our wealth management services to clients across the country.”
