Cannacord Genuity Wealth Management (CGWM) has announced a deal to acquire financial planning firm Cantab Asset Management.
The deal is expected to complete in Q3 of this year.
Based in Cambridge, Cantab has approximately £900m assets under management.
Upon completion of the acquisition, CGWM said that Cantab investment professionals and support staff will continue in their existing roles and will be supported in directly managing their client relationships.
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David Esfandi (pictured), chief executive officer of CGWM UK said: “We are delighted to establish a presence in Cambridge with a highly respected team of professionals that has achieved an extraordinary track record of providing top quality financial planning advice and services to high-net-worth clients.
“We very much look forward to supporting the continued growth of the business as we work to provide the best possible outcomes for our combined clients.”
David Saunderson, who founded Cantab, will remain as CEO and a member of its board.
He said: “Joining Canaccord Genuity marks an exciting new chapter in the development and growth of Cantab Asset Management as a leading provider of financial planning and investment advice for clients in London and Cambridge, whilst continuing the independent regulatory status of the firm.
“The increased resources of the combined business, spanning investment management and financial planning, will serve our clients into the future with confidence.”
