Edinburgh-headquartered Tweed Wealth Management, part of St James’s Place, has acquired Glasgow-based Capital Wealth Consultants (CWC).
CWC was founded in 2012 as Penman Wealth Management and looks after £80m in assets for families across the UK.
Co-founder Chris Tweed and founder of Capital Wealth Consultants, Ross Penman have been close friends since 2007.
Tweed said the acquisition of CWC will also enable the firm to enhance its offering to UK sports professionals.
Tweed said: “This acquisition represents a major step in our mission to expand our footprint and, with the addition of Ross’ extensive sector experience, will further enhance our already thriving speciality of providing bespoke relationship-led advice to sports professionals UK-wide.
“Capital Wealth Consultants’ strong reputation in the private client space will complement our existing extensive footprint within International Rugby. CWC’s location in Glasgow also paves the way for further planned expansion into Glasgow and the west of Scotland.”
