Rowan Dartington has bought a 70 per cent stake in IFA business Stafford House Investments to complement its core wealth management business.
The firm, run by chief executive Jeremy Wake, operates on a fee-only basis. It will offer advice on pensions, post-retirement, tax planning and regular and single-premium investments to Rowan Dartington clients.
Rowan Dartington refused to disclose how much it paid for the majority stake in the firm. The remaining 30 per cent is owned by “key staff”.
Rowan Dartington will continue to offer clients its discretionary management service Signature alongside SHI.
Chief executive Graham Coxell says: “We became increasingly aware that our clients wanted a more comprehensive financial advice service to complement our existing stockbroking and fund management expertise.
“The acquisition of Stafford House Investments means that we are able to offer a much broader range of advice to our clients, across all aspects of personal financial planning and investments.”
Wake says: “The overarching approach to offering financial solutions, whereby Rowan Dartington manages funds while Stafford House Investments offers professional advice will help ensure that our clients’ investments are being made to work harder than ever, helping to maximise returns.”