Thursday, February 22, 2024
HomeFinancial PlanningTitan Wealth buys Ravenscroft’s £600m AUM UK arm

Titan Wealth buys Ravenscroft’s £600m AUM UK arm



Wealth supervisor Titan Wealth is to amass the UK funding administration arm of funding providers supplier Ravenscroft for an undisclosed sum.

The share buy settlement is topic to shareholder and regulatory approval.

The acquisition will convey round £600m in property beneath administration and places of work in Peterborough and Bishops Stortford.

The groups from each places of work will be part of Titan.

The deal will take Titan Wealth’s property beneath administration to £9.4bn.

Ravenscroft’s UK enterprise is a mix of bespoke and model-style portfolios.

Andrew Fearon, joint CEO at Titan Wealth, stated: “Ravenscroft is a well-run enterprise possessing a high-quality, loyal shopper base. The enterprise will combine with our community, enabling higher distribution of the funding and advisory providing that kind a part of our shopper to custody options and providers.”

Guernsey-based Ravenscroft is an funding providers group with £8.5bn of property beneath administration for personal and institutional purchasers.

Jon Ravenscroft, group CEO of Ravenscroft, stated: “Titan has acquired plenty of asset administration corporations in accordance with its progress technique and we’ve spent a substantial period of time making certain they have been the right match.

“Titan has the identical ‘shopper first’ ethos and I’m assured that this growth is the best transfer for each our UK groups and their purchasers.

“It is going to additionally permit Ravenscroft to concentrate on the offshore market – which we all know extraordinarily effectively – the place the massive majority of our purchasers, shareholders and employees stay.”

The acquisition is the second for Titan this 12 months. In January Titan acquired Chartered Monetary Planning agency Telford Mann for an undisclosed sum. 

Kettering-based Telford Mann was established by Moore Chartered Accountants in 1988 and has property beneath administration of £750m for over 3,500 purchasers.

In 2021 Titan Wealth acquired Tavistock Wealth Restricted for as much as £40m in money and a ten-year earn out from Tavistock Investments.

Titan Wealth has formidable progress plans and has a goal of attaining £50bn in property beneath administration over the subsequent three to 5 years.

Titan supplies execution, custody, clearing and wealth administration providers to small and medium sized dealer sellers, proprietary merchants, intermediaries, household places of work and wealth managers and platform providers, custody and funding options to monetary advisers, household places of work, retail purchasers and establishments through a community of trusted intermediaries.

Titan is backed by non-public fairness corporations Parthenon Capital Companions, Ares Administration, Maven Capital Companions and Hambleden Capital.




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