Benchmark Capital, member of the Schroders Group, has made its first purchase of the year – buying advice firm Redbourne Wealth Management.
Redbourne will form part of Benchmark’s national advice business and adds another £310m to the existing £1.8bn of client assets.
The deal bolsters their number of financial planners to 56 across their 8 UK offices.
With offices in Stratford upon Avon, Shrewsbury, and Bromsgrove, Redbourne provides Benchmark with a presence in the West Midlands.
Gordon Hay, managing director at Redbourne Wealth Management, said: “We have had a long-standing relationship with Benchmark, who have supported the growth of our business over the last few years, and this is the next phase in securing a strong and aligned future for our clients and our staff.
“Whilst there are many options for firms considering an exit, we believe the values and vision of Benchmark are best aligned with ours, and this allows us to continue to deliver great client outcomes without compromise.”
Benchmark said it is focussed on supporting financial planning firms at every stage of their business, starting up, running more efficiently, accelerating growth, and ultimately planning for succession.
The firm said this latest acquisition is an example of Benchmark’s strategy to expand its own advice business across the UK and support firms with their own.
“Benchmark Capital has worked successfully with Redbourne for many years, there is a strong cultural fit between the two firms with a shared focus on delivering the best possible client outcomes – we are delighted to formally welcome them as part of Benchmark Capital.Ed Dymott, Managing Director of Benchmark Capital
“This acquisition provides continuity for Redbourne’s clients and staff, all of whom will remain in the business. It is a clear demonstration of how we help financial planning firms across their different needs.”
This completes Benchmark’s 26th IFA firm acquisition and is the first in a large pipeline of acquisitions expected to complete in 2022.
To plan your exit strategy, contact Joshua Lee today.