View more on these topics

Harwood Wealth’s first half acquisition spree adds £310m AUA

The nine advice firms acquired by Harwood Wealth Management in the first half of the year have added £310m assets under advice to the business.

According to an update today, Harwood will pay a total of £10.9m for the acquisitions, completed in the six months to 30 April.

Harwood says £6.7m of that total has been paid, with the balance to be settled through the group’s two-year earn-out model.

The largest deal completed was for Southampton-based IFA AE Financial Services in March, totalling £4.6m.

The group also recently acquired Plan65 and Ascot-based Fund Management for £1.1m.

Harwood non-executive chair Peter Mann says: “The frequency with which we are managing to complete on acquisitions of stable, high-quality businesses with strong client bases demonstrates the rich pool of opportunities available.”

Yesterday, in its first half results statement, consolidator AFH was also clear it intended to continue its acquisition momentum.

In the first half, AFH bought six firms for an initial amount of £3.2m. The firms include Hertfordshire-based firms Mark Hughes & Associates and Harrison White FS and the assets of Meritor, the financial advisory business of law firm Freeths.

In the results statement, the company notes its “strong balance sheet” to allow it to carry out further acquisitions. It has £23.7m cash reserves.


Spotlight on charges 700x450.jpg

SJP defends report claiming its charges are mid-range

St James’s Place has defended the findings of a report that shows how its charges stack up against those of its peers. Advisers questioned the methodology behind the Grant Thornton Adviser Charges Report, which is not publicly available but was published in part in SJP’s 2017 results. Money Marketing obtained a condensed version of the […]


Adviser to compensate over Lifetime Sipp Harlequin investment

Advice firm Lansdown Place Financial Management must compensate a client who complained about the transfer of their pension into a Harlequin fund through a Lifetime Company Sipp. A Financial Ombudsman Service ruling says Lansdown Place should not have processed the transfer into the unregulated investment. In 2012, Mr T invested £30,000 of his Sipp into Harlequin […]

Rayner Spencer Mills: Why we rate the Artemis US Select Fund

Ken Rayner and Graham O¹Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio The Artemis US Select Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm