The first of the three is Oxfordshire IFA business JRH Asset Management, which has around £62m in funds under management across various high net worth clients. Final terms have been signed off and the integration is already underway.
The second deal being eyed is the acquisition of a discretionary fund management practice with around £20m in funds under management. This deal remains subject to a non-disclosure agreement and is yet to be finalised, but an agreement in principle is in place and a completion date of 1 September is being targeted.
The third takeover in the hat-trick is a financial advice business with approximately £90m under management. That deal is also subject to non-disclose and is some way off completion as exact terms are still being negotiated. A closing date around 1 January 2017 is the target.
“The main reason we are doing acquisitions is it allows us to introduce our various services to books of new clients and migrate them across,” said chief executive Jamie Shepperd. “We do grow organically as well, but going on the acquisition trail takes you quickly and directly to new client relationships, which is where the real value is.”
Shepperd said another benefit is that it brings new people and skills into the business. “It is not just the funds under management that are of value, just as important are the people that come with a deal,” he said.
Shepperd said that the firm will not rest on its laurels once these three deals have been completed, and it will continue on the acquisition trail into 2017 and beyond as opportunities present themselves.
