Wealth management business Hurst Point Group has bought London-based firm Helm Godfrey for an undisclosed sum.
The deal is subject to regulatory approval.
The acquisition brings around £1bn of assets under advice (AuA) and £500m of assets under management (AuM) to Hurst Point, boosting its AuA to around £5bn and its AuM to approximately £5bn.
The transaction will increase the number of clients to around 2,500 and the number of financial advisers across the group to 120.
Helm Godfrey has 65 employees and provides financial planning and investment management services. Its investment management team will become part of Hawksmoor, Hurst Point’s investment management division and the financial planning team will become part of Argentis, the group’s financial planning division.
Hurst Point, which is backed by private equity firm Carlyle Group, said the purchase would further its ambition to become a national wealth management business, with a presence in major cities across the UK.
‘Several deals in the pipeline’
John White, managing director of Hurst Point’s financial planning division, said: “We are working to build a quality, sustainable financial-planning business and have several deals in the pipeline for 2023.
“We were attracted to Helm Godfrey largely by its strong presence in a key centre of wealth, the reputation of its advisory business and its integrated investment-management operations.”
Graham Cross, Helm Godfrey chief executive, added: “We believe that we have found the right partner, with the platform to deliver on our numerous objectives.”
Hurst Point said it is seeking to have both a financial planning and investment management operation in the towns or cities where it already establishes a presence. Helm Godfrey will complement the existing Hawksmoor office in London.
In 2022, Hurst Point made nine acquisitions, including Sussex-based Metis Asset Management and Metis Wealth, as well as advice firms D Heaton Wealth Creation & Management and Robinson Financial Solutions. The group also bought Gore Browne Investment Management.
