View more on these topics

Rathbones acquires IFA network for £18m


Rathbone Brothers is buying IFA network Vision Independent Financial Planning in an £18m deal.

The wealth manager has to agreed to acquire both the Vision network and its sister company Castle Investment Solutions, which provides administrative services.

Vision focuses on high-net-worth private clients and as at 31 August had £925m in assets under advice and 78 advisers.

Rathbones is buying the remaining 80.1 per cent stake in Vision after it acquired a 19.9 per cent stake in the group in October 2012.

Vision says its will remain independent as part of the deal.

Under the terms of the acquisition, the initial payment will be £5m plus the net asset value of Vision when the deal completes.

Further payments of up to £13m will then be made between the deal concluding and 2020, based on performance and growth targets.

The net asset value will be paid in cash, with other sums paid 80 per cent in cash and 20 per cent in new Rathbones shares.

The deal is subject to regulatory approval.

Rathbones chief executive Philip Howell says: “Our decision to acquire the Vision Group is a reflection of its proven ability to grow and the strong relationship we have built up in the last five years. We very much look forward to sharing in its continued success.”

Vision Group founders Roger Edwards and Paul Sweaton say: “We are delighted to have secured the further backing of such a prestigious company as Rathbones, and one with which we share so many values.

“It was vitally important to us that any future partner understood the unique Vision culture and ethos that exists within our business, and we look forward to continued growth under new ownership.”



Bellpenny pushed to £5m loss by acquisition costs

Advice sector consolidator Bellpenny has reported a loss of £5m for the year ending 31 December 2014, almost doubling losses from the previous year. Bellpenny recorded a loss of £2.7m in 2013, and blamed the worsening result on costs generated by acquisitions, including the £10m purchase of Torquil Clark. The deals saw assets under management rise […]

Aberdeen Gilbert Martin Gilbert 700x450

Aberdeen acquires London-based investment manager

Aberdeen Asset Management has acquired London-based investment manager Advanced Emerging Capital for an undisclosed sum. The acquisition of AEC, which managed £409m of funds as of 30 June, will boost Aberdeen’s assets under management to over £8.5bn. The AEC team includes four investment professionals who will be based in Aberdeen’s London office and become part […]

Aberdeen Gilbert Martin Gilbert 700x450

Aberdeen to acquire Parmenion

Aberdeen Asset Management is to acquire Parmenion Capital Partners, the fund manager has announced. Parmenion will retain its own identity and continue to be based in Bristol, but will receive additional investment from Aberdeen. The platform has £1.9bn in assets under management and delivers services to 900 adviser firms. Aberdeen chief executive Martin Gilbert says: […]


BlackRock acquires robo-advice firm

Asset manager BlackRock has acquired US digital advice firm FutureAdvisor as it targets expanding into robo-advice. The deal, for an undisclosed sum, will allow BlackRock to offer corporate clients personalised advice, portfolio management and web and mobile apps to clients. BlackRock says the acquisition will allow it to help financial institutions grow their own advice […]


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