Rowan Dartington, a UK-based independent wealth management firm, has acquired Acordias, an Isle of Man-based online wealth platform.
As part of the deal, Trevor Cheal managing director of investment services at Rowan Dartington will become new chairman of Acordias.
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The acquisition will provide Acordias with the infrastructure support and financial backing to move ahead with its growth plans.
The acquisition of Acordias will enable Rowan Dartington to expand its stockbroking and discretionary fund management capabilities globally.
Through this deal, Acordias will benefit the international adviser market with an open architecture platform which offers funds, direct equity holdings, structured products and various other investment instruments.
Cheal said: "This acquisition represents a significant step forward for Rowan Dartington as a leading investment services provider that believes supporting the adviser community is key. It is the perfect opportunity to combine our stockbroking and investment management expertise with the existing, well-functioning technological framework, which Acordias provides, that will allow us to expand our distribution base globally."
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