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Quick-expanding wealth supervisor and Monetary Planner Titan Wealth is buying £4bn AUM Bristol Monetary Planner Aspira Company Options Restricted for an undisclosed sum.
The acquisition is topic to regulatory approval and can improve Titan’s AUM to £16.6bn.
Bristol-based Aspira was established in 2000 and has a group of fifty monetary and company advisers to over 15,000 personal and company purchasers throughout the UK.
It’s a nationwide monetary recommendation, pensions and worker advantages consultancy agency with a enterprise mannequin centred on offering skilled, private recommendation to its purchasers.
Titan stated the acquisition will complement the prevailing retail providing of the Titan group and elevate its place out there. It already has a strategic partnership with Aspira to develop the funding proposition and handle the Aspira Mannequin Portfolio Service investments.
Derek Miles, chief government of Aspira, will turn out to be chief government of the Monetary Planning division of Titan, with a remit to supervise the Monetary Planning enterprise throughout the Titan Group specializing in offering present and new retail and company purchasers with monetary recommendation and options.
He stated: “It’s clear from the various discussions now we have needed to date that Aspira and Titan are very a lot aligned in our shared imaginative and prescient of an progressive and built-in strategy to monetary recommendation. As we speak’s announcement marks a key step in our journey to boost and enhance our consumer proposition and brings with it a number of thrilling alternatives which we will probably be working carefully on collectively to develop.”
Andrew Fearon, joint group chief government and head of M&A at Titan, stated: “This acquisition aligns with Titan’s development ambitions, expands our monetary recommendation providing and additional develops the ‘consumer to custody’ providing, which is central to our general company technique.”
Titan has made a variety of acquisitions in latest months of Monetary Planning and asset administration corporations.
In October the agency acquired North East IFA Prism Financial Advice, including £630m in AUM to its books. In June it acquired investment research and consultancy firm Square Mile for an undisclosed sum.
Earlier within the yr it acquired the UK funding administration arm of funding companies supplier Ravenscroft for an undisclosed sum and in January it acquired Chartered Monetary Planning agency Telford Mann for an undisclosed sum.
This month US private equity firm Parthenon Capital revealed it was acquiring a majority share of Titan Wealth. Beneath the deal Parthenon will present Titan with assets and extra capital to broaden its M&A exercise.
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