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November 25, 2021

Quilter offloads advisory arm to MKC Wealth

By Verdict Staff

Quilter has divested Lighthouse Carrwood, its advice arm, to consolidator MKC Wealth for an undisclosed amount.

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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.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Carrwood will now be rebranded as MKC Wealth.

As part of the deal, which concluded on 1 November 2021, Carrwood employees will join MKC Wealth.

Carrwood was acquired by Quilter as part of its takeover of the broader Lighthouse Group in 2019.  It has been part of Quilter Financial Planning unit since then.

Quilter Financial Planning CEO Stephen Gazard said: “As part of Quilter Financial Planning’s integration of Lighthouse into our network and national advice business, we have been carefully exploring the options for Carrwood to ensure the best outcome for clients and employees.

“We are committed to ensuring good client outcomes and we believe MKC Wealth is an excellent home for the business given its focus as an IFA-led advice business.”

MKC Wealth

MKC Wealth was launched by former Quilter directors Dominic Rose and Nigel Speirs earlier this year with backing from Cabot Square Capital.

The duo plan to expand the business through more acquisitions, which will be integrated into MKC Wealth.

Commenting on the latest deal, MKC Wealth chief executive Dominic Rose said: “Carrwood represents a fantastic fit for MKC Wealth and we have welcomed a number of new colleagues to our business who will thrive with us.

“Our focus remains on only making acquisitions where we feel there is a good cultural fit and at a sensible and sustainable pace.

“We have no interest in being the largest firm, what we care about is our team, our clients and being the safe pair of hands to look after clients from retiring advisers which is our principal focus going forward.”

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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