The deal, which was completed on 1 July for an undisclosed sum, sees the addition of Hampton Dean’s £470m in assets under management which takes Brown Shipley’s total AUM to £4.67bn.
As part of the acquisition, Hampton Dean’s 12-strong adviser team, 4,000 clients and 30 support staff will be brought under the Brown Shipley umbrella, with the IFA becoming a subsidiary of the firm.
Brown Shipley’s number of regional bases has subsequently increased to six, adding to the existing London, Manchester, Birmingham, Leeds and Edinburgh branches, with the firm outlining scope for future acquisitions.
While the deal represents Brown Shipley establishing a foothold in territory in which it was previously unrepresented, Ian Sackfield, Brown Shipley CEO, cited Hampton Dean’s business characteristics as the driving factor behind the purchase.
He said: “I am pleased to announce today’s acquisition of Hampton Dean, as it supports our ambitious growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients.
“The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients, so I am confident the new team will make an important contribution to Brown Shipley and its future success.”
