The deal terms included the acquisition of Tenebris’ private client list and the AUM for those clients valued at around £270m. The transaction increases WH Ireland’s AUM by approximately 15%.
Seymour Pierce, which made £200,000 of profit in the year ending 30 September 2012, was put into administration last month.
Richard Killingbeck, the company’s chief executive officer, commented: "Part of our Private Client growth strategy is to seek to acquire private client teams and assets in existing WH Ireland office locations and this transaction will add considerably to our London- based assets under management. We expect this transaction to be earnings enhancing during the year ending 30 November 2013."
