Punter Southall Group has acquired the Surrey-based employee benefit and private client financial planning firm Blacktower Financial Advisers.
Following the deal, the number of private clients in Punter Southall Financial Management, which is the independent wealth advice unit of the pensions consultancy, will escalate by almost 750 clients (about 20%) to nearly 5,000.
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The deal will add £240m to the firm’s assets under advice.
John Hamilton-Hunt, managing director of Punter Southall Financial Management, said, "Both companies share the same professional, personal approach which seeks to foster long-term client relationships and positive outcomes.
"Add to this the fresh thinking and innovation from our investment teams across the group and we can better serve the objectives and expectations of our clients."
The entire New-Malden based staff of Blacktower will relocate to Punter Southall’s Guildford office.
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