Derbyshire-based Rhodes Wealth Management (RWM) has joined forces with Ilkeston financial advice firm Paul Bainbridge Wealth Management (PBWM).
The financial terms of the merger were not disclosed.
As part of the deal, PBWM will serve clients and offer services under the Rhodes umbrella. Both companies are St James’s Place partner firms.
PBWM owner Paul Brainbridge undertook the deal as part of his retirement strategy.
Rhodes Wealth Management was established by Adam Rhodes as a one-man operation in 2007 and it now has a staff of 27 with headquarters in Brailsford, Derbyshire and an office at West Bridgford, near Nottingham.
‘Change people’s lives for the better’
RWM owner Rhodes said in a statement: “I have known Paul since I started at St James’s Place and I was delighted when he decided to entrust me and the team at RWM with the task of supporting him and his clients.
“Our business mission is to ‘change people’s lives for the better’. That includes our clients, our team members, our business and charitable partners and, of course, those moving over from Paul Bainbridge Wealth Management.
“Whilst nothing will change for Paul’s clients in the short-term, over time, he will begin to hand over the day-to-day management of their finances to advisers from Rhodes Wealth Management. Paul will continue to be on hand to answer any questions or queries they may have.”
Consistent theme
M&A deals among SJP partner firms are becoming a regular occurrence. Since the start of 2022, our sister publication International Adviser has reported on RS Robertson Financial Planning’s double merger and Tweed Wealth Management’s purchase of Inverness-based John Home Wealth Management.
