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1Bn business after Bath deal

Chartwell and Cavendish Grant have merged to create a Bath-based advisory and discretionary management business with 60 staff and 1bn under management.

The two firms have moved to new offices in Bath but will continue trading under separate brands, with advisory business carried out by Cavendish Grant and discretionary management by Chartwell.

The enlarged group anticipates an annual turnover of 5m and will look after 53,000 clients. It plans to dev- elop by building on its range of services through increased use of e-commerce.

Chartwell comprises a financial planning business, discretionary asset management service and discount brokerage while Cavendish Grant runs a profitable high-net-worth advisory business. The two firms have been established since 1995 and 2000 respectively.

Cavendish Grant managing director Jim Grant has taken over as chief executive of the new business. He says Chartwell’s marketing and PR experience and discount brokerage will be complemented by CG’s specialist advisory capability.

Chartwell investment director Craig Wetton says: “The merger is ideal as it brings together two complementary businesses. Our clients will continue receiving direct propositions while having wider access to general and specialist financial advice.”


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