Wren Sterling has acquired the assets of Woking-based IFA firm Frobisher Capital from parent group Corimar Holdings.
Frobisher adviser John Westlake will retire following a short handover with Wren Sterling and fellow IFA Murray Peterman has joined the firm on a full-time basis.
The deal will add around £68m ($89m, €75.2m) to Wren Sterling’s assets under advice and now has £3.6bn in AuA.
The financial terms of the deal were undisclosed.
Fifth deal
Ian Halley, chief executive of Wren Sterling, said: “John and Murray have built a great business with a loyal client bank, so I’m delighted to welcome their clients to Wren Sterling.
“John deserves his retirement after many years of guiding clients through the biggest financial decisions they will make and I know that our service will provide continuity and expertise for them and their families.
“This is our fifth acquisition and it fits with our strategy of growing the business organically, whilst augmenting this approach with the purchase of businesses with high quality assets.”
Wren Sterling is financially-backed by Palatine Private Equity.
