St James’s Place (SJP) partner practice Apollo Private Wealth has bought Cambridgeshire-based fellow SJP firm Debra Wait Wealth Management for an undisclosed sum.
The deal takes its assets under management to £300m ($374m, €341m) and supports Apollo’s continued growth strategy in the high net worth space.
Debra Wait owner of Debra Wait WM plans to remain active in the business for at least the next 18 months to help to ensure a seamless transition for clients.
Nauman Gondal, Apollo’s founder and chief executive, said: “Debra Wait is an outstanding SJP Partner who shares our commitment to the highest standards in client care and service, and she will continue to be a key part of the combined business. Over the past year, we have worked extremely closely, getting to know her business and helping execute a succession strategy that ensures the business is future-proofed if she were to look towards retirement, and ensuring her exceptional client relationships are maintained.
“This acquisition is a key part of Apollo’s growth strategy to broaden our national footprint, bringing integrated financial advice and services to more clients across the UK. We’ve enjoyed great success across London and the south east, and we’re excited by the opportunities this acquisition affords us to continue building the brand nationally. It exemplifies the spirit of partnership while celebrating and fostering the entrepreneurial mindset of our advisers.”
This deal comes after fellow SJP partner firms Gilson Gray Financial Management and PD Private Client bolstering their operations with acquisitions.
This story originated on our sister title, International Adviser.
