Quick-expanding wealth supervisor and Monetary Planner Titan Wealth is buying £4bn AUM Bristol Monetary Planner Aspira Company Options Restricted for an undisclosed quantity.
The acquisition is topic to regulatory approval and can enhance Titan’s AUM to £16.6bn.
Bristol-based Aspira was established in 2000 and now has staff of fifty monetary and company advisors to over 15,000 non-public and company shoppers throughout the UK. It’s a nationwide monetary recommendation, pensions and worker advantages consultancy agency with a enterprise mannequin centred on offering professional, private recommendation to its shoppers, constructed on robust, long-term relationships.
Titan stated the acquisition will complement the present retail providing of the Titan group and elevate its total place out there. It already has a strategic partnership with Aspira to develop the funding proposition and handle the Aspira Mannequin Portfolio Service investments.
Derek Miles, chief government of Aspira will grow to be chief government of the Monetary Planning division of Titan, with the remit to supervise the Monetary Planning enterprise throughout the Titan Group specializing in offering current and new retail and company shoppers with monetary recommendation and options.
He stated: “It’s clear from the various discussions we’ve got needed to date that Aspira and Titan are very a lot aligned in our shared imaginative and prescient of an revolutionary and built-in strategy to monetary recommendation. As we speak’s announcement marks a key step in our journey to reinforce and enhance our shopper proposition and brings with it numerous thrilling alternatives which we will likely be working carefully collectively to develop.”
Andrew Fearon, joint group chief government and head of M&A at Titan stated: “This acquisition aligns with Titan’s development ambitions, expands our monetary recommendation providing and additional develops the ‘shopper to custody’ providing, which is central to our total company technique.”
Titan has made numerous acquisitions in current months of each Monetary Planning and asset administration companies.
In October the agency acquired North East IFA Prism Monetary Recommendation, including £630m in AUM to its books. In June it acquired funding analysis and consultancy agency Sq. Mile for an undisclosed sum.
Earlier within the 12 months it acquired the UK funding administration arm of funding companies supplier Ravenscroft for an undisclosed sum and in January it acquired Chartered Monetary Planning agency Telford Mann for an undisclosed sum.
This month US non-public fairness agency Parthenon Capital revealed it’s buying a majority share of Titan Wealth. Beneath the deal Parthenon will present Titan with the assets and extra capital to broaden its M&A exercise.