Team Plc, a Jersey-based asset manager, has acquired Thornton Chartered Financial Planning, adding over £120m in assets under advice.

Thornton is an Isle of Man -based wealth and asset manager which focuses on an inclusive approach to financial advice for people from all walks of life, founded in 200 by Sharon Sutton.

Commenting on the business, Ms Sutton said: “Since starting Thornton in 2000, I have always held the deep-rooted belief that financial planning is an essential part of everyday modern life, and that, as a profession, we need to make it more inclusive to help people from all walks of life.”

Matthew Moore, chief financial officer of Team, commented: “Becoming part of Team is a natural fit and will, we believe, facilitate the next stage of growth for Thornton which will benefit from being part of a larger group, offering a wider range of services whilst maintaining the same customer centric ethos.

“The acquisition is a natural extension into the Isle of Man from our base in Jersey and matches our strategy to build a new wealth, asset management and complementary financial services group with a focus on the UK, crown dependencies and international finance centres.”

The acquisition comes shortly after Team acquired Globaleye in a deal worth £5.6m.

Mark Clubb, executive chairman of Team, commented on the Globaleye deal: “In May of last year, we stated our ambition to grow internationally within the other Crown Dependencies as well as further afield including in the Middle East and Asia.

“Our multi-asset strategies have delivered robust returns in challenging markets and this acquisition represents a major opportunity to transition Globaleye clients from third-party managers to the Team asset management model portfolios and bespoke portfolio services.”

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