Wren Sterling has released details of a further three deals completed over the first half of 2021, as it takes its total number of acquisitions in 2021 to four.
Sentinel Private Clients Limited (Sentinel), of Warwickshire, Bookeeping Administration Services Ltd (BKASL) based in Cardiff and Rothesay Intelligent Financial Services Ltd (Rothesay) in Bedfordshire have been bought by Wren Sterling, adding around £294m of assets and c.550 new clients across these deals.
Andrew MacDonald, Louise Wheeler and Francesca Shaughnessy of Sentinel have joined Wren Sterling to help with the transition of clients into the business, whilst Ray Jackson of BKASL and Rod Hamilton of Rothesay have joined the business as independent financial advisers.
Ian Halley, Wren Sterling’s CEO commented: “These purchases are exactly the sort of acquisitions we believe have a great fit with the business and we’re delighted to have secured them with support from our acquisition funding partner DunPort Capital Management.
“Each of these businesses are well-established with long standing client relationships, strong compliance cultures and I’m delighted that they have chosen to join Wren Sterling.
“We have a clear acquisition strategy and expect to make further acquisitions in the coming months as we continue to hold discussions with businesses like Sentinel, BKASL and Rothesay to become part of Wren Sterling.”
Ray Jackson, Director of BKASL, explained why he transferred his business to Wren Sterling: “I’ve joined an organisation where the client is at the heart of the firm’s culture, and importantly, Wren Sterling’s wide-ranging investment proposition means my clients’ investments can remain where they are, ensuring continuity for them.
“Furthermore, growing my business is important to me, so the additional support and logistics that Wren Sterling provides will enable me to do that, without the other constraints that come with running a business.”
Andrew MacDonald of Sentinel added: “I chose Wren Sterling because the company is large enough to absorb the Sentinel client base, with substantial client assets under advice. They also have experience of acquisitions with excellent client retention rates. I found that very reassuring, after all, Sentinels’ client relationships have taken years to develop, and I want to ensure that those clients will be looked after and receive the very best advice going forward.”
Rod Hamilton of Rothesay commented: “From our first meeting, Wren seemed the correct fit. Everything they promised, has been delivered; absolute minimum client disruption, clients investment remaining untouched, a robust framework for future advice and the benefit of great technology. We share the belief that our business is about the needs of our clients and not trying to make clients ‘fit’ our proposition”
Wren Sterling has completed several acquisitions, in February it announced the purchase of White Wells Investments LLP, which added £50m of assets.
Wren Sterling’s total assets under advice is now £4.6bn.