Brooks Macdonald to acquire £250m Midlands IFA
Wealth manager and Financial Planner Brooks Macdonald is to acquire Nuneaton-based Integrity Wealth (Holdings) Limited - which has £250m in funds under management - for an undisclosed sum.
The deal, subject to regulatory approval, will see Brooks acquire Integrity Wealth (Holdings) Limited together with its IFA subsidiary, Integrity Wealth Solutions Limited.
Integrity Wealth Solutions has around 800 clients.
Brooks says the acquisition will be funded through existing financial resources and will be paid in two tranches, with an element linked to a three year growth target.
Integrity specialises in advising business owners, high net worth individuals and their families across the UK although its main focus is on Warwickshire, the West Midlands and Leicestershire.
Integrity Wealth Solutions will become part of Brooks Macdonald’s Private Clients business.
Managing director Martin Lindsey will continue to lead the team at Integrity Wealth Solutions and also take up a broader role in Brooks Macdonald as senior Financial Planning director and head of advice.
Brooks says that Integrity Wealth Solutions’ clients will see “no change” to their products and services and, over time, will see benefits from their adviser becoming part of a larger wealth management firm.
Martin Lindsey, managing director of Integrity Wealth Solutions, said: “Having found success as an independent firm, we are excited at the opportunity to benefit from the support and infrastructure of a larger company, one that matches our unwavering commitment to delivering value for our clients, and one where we believe we can continue to build our capabilities for the future.”
Andrew Shepherd, CEO of Brooks Macdonald, said: “Martin Lindsey and his team at Integrity Wealth Solutions have been valued introducers to our UK Investment Management business since they launched in 2013. It is particularly pleasing that we have been at their side from their inception and have seen them become the success they are today, ready to accelerate that progress with Brooks Macdonald."
Brooks Macdonald Group was founded in 1991 and has discretionary Funds under Management of £16.7 billion as at 31 March. It offers investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The group also provides Financial Planning, as well as international investment management, and acts as fund manager to a range of onshore and international funds. It has 14 offices in the UK and Crown Dependencies.