RL360° Group has agreed to purchase Rowan Dartington’s Isle of Man-based international platform business Ardan International for an undisclosed sum.
Ardan is aimed at the international adviser community, and includes research tools, dealing, custody and client administration.
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British wealth manager Rowan Dartington acquired the platform in 2014, but was itself purchased by St. James’s Place in 2015.
However, Rowan Dartington will continue to use the platform for its international business expansion on an outsourced basis.
The platform will continue to operate independently of RL360 ° and under the Ardan brand following completion of the takeover, which is subject to regulatory approval.
RL360° CEO David Kneeshaw said: “We have made no secret of the fact that pursuing acquisitions forms part of RL360°'s strategy to build scale and support our growth plans. We believe Ardan International presents a significant and attractive opportunity to accelerate this objective.
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By GlobalData"I believe having a truly independent and internationally focussed platform within the RL360° Group makes strategic sense.”
