UK-headquartered wealth management group Evelyn Partners, formerly Tilney Smith & Williamson, has acquired the investment management arm of London-based Arena Wealth.
Financial terms of the deal were not disclosed.
Arena specialises in advising clients within the sports and entertainment industry, as well as entrepreneurs.
As part of the acquisition, around £90m ($102m, €103m) of investment management assets will be transferred to Evelyn, and the two companies will enter into an agreement where Arena will become the wealth group’s partner of choice for investment management.
Arena portfolio manager Ashley Thompson will join Evelyn’s Nottingham office; she has been at the firm since 2013. Client administrator Lauren Francis will also move to the wealth group.
Bill Price, managing partner at Evelyn Partners, said: “I’m delighted to welcome Ashley and Lauren to Evelyn Partners. We have long supported sports and entertainment professionals and so there is a strong fit between Evelyn Partners and Arena Wealth.
“This deal recognises our ambition to continue growing our investment management business while at the same time ensuring that Arena Wealth’s prestigious clients will continue to receive a high-quality, personalised investment management service that is tailored to their needs. We look forward to also working with the Arena Wealth team on an ongoing basis.”
David Lumley, director at Arena Wealth, added: “We are delighted to start this partnership with Evelyn Partners, who are best placed to assist with the domestic and international investment management requirements of our clients. Arena Wealth Partners will continue to provide clients with the same comprehensive financial management service they have historically benefitted from.”
