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Merchant House takes on 120 Clarkson Hill advisers

Merchant House Group has recruited 120 former Clarkson Hill Group advisers following the acquisition of the firm’s assets.

It launched its financial planning division, Merchant House Financial Services, after the acquisition of Clarkson Hill’s assets in December and now has 32 IFAs registered with the FSA. It says the other Clarkson Hill advisers are going through the registration process.  

In an announcement to the stock market this morning, the firm says it has raised £345,000 of share capital to help develop the business.

MHFS says it now has £541m assets under supervision and over 30,000 clients.

Merchant House Group chief executive Christopher Day says: “We are very pleased to report that Merchant House Financial Services is going from strength to strength and is now solidly positioned to contribute to the continuing growth of group revenue.”

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  1. “Assets under supervision” is a new one on me – how does that compare to AUA or AUM. Does it include stuff they found down the back of the sofa?

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