17.06.10
Collins Stewart acquires Andersen Charnley
Collins Stewart Wealth Management ("CSWM") has today announced the acquisition of Andersen Charnley Limited ("ACL").
ACL is a well established, award-winning independent private client wealth manager offering both discretionary portfolio management and independent financial advice, with offices in London and Bagshot, Surrey. Focusing on the upper end of the high net worth market, its client base incorporates professional advisers and senior corporate executives. Its high-touch service proposition is based around a holistic approach to wealth management incorporating both discretionary portfolio management and financial planning.
Neil Darke, Head of CSWM, commented: "I am delighted to have completed this mutually beneficial acquisition. While ACL will provide us with critical mass and resource to our London business, with both the addition of significant discretionary assets under management and a one-off addition of a financial planning capability, Collins Stewart provides ACL with a significant enhancement to its back office, investment and corporate functional capabilities.
In addition, this deal takes our assets under management to £6.8bn, further highlighting our commitment to growing the business and achieving our stated goal of £10bn in assets under management by 2012."
Chris Wozniak, Chief Executive, Andersen Charnley, added: "When the business first discussed succession plans, various criteria were imposed upon the Board, including seeking a firm that would significantly add value to our existing proposition and would maintain that proposition for our clients. In Collins Stewart, we have been very impressed with the hands-on, practical and no nonsense approach and we firmly believe we have found the right partner to ensure that our clients continue to receive the high level of service they expect."
Collins Stewart plc was advised by its in-house Corporate Broking team and Andersen Charnley was advised by IMAS Corporate Advisers (www.imas-corporate.co.uk) who initiated the transaction.