Vestra Wealth has bought back an 11% stake in the firm held by Goldman Sachs for an undiclosed sum, with a view to making the shares available to its key advisers.
Vestra currently has 22 partners and has £3.6 billion in assets under management with over 150 staff across its offices in London and Jersey.
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Vestra founder and senior partner, David Scott, said: "I am grateful to Goldman Sachs for the support they gave to Vestra in its early stages. Since we established the business five years ago, we have grown steadily in terms of assets under management, turnover, and profits, whilst, crucially, retaining our core values of impartial advice and transparency for clients.
"This transaction represents an important milestone for Vestra.
"It also comes at a time of on-going change in the industry. As regulation has been brought in which supports our own founding values of transparency and independence, we now look to other areas of the market where we believe we can take the lead in fulfilling our client’s ever-changing needs," Scott added.
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