It’s rumoured that Aberdeen Asset Management is in talks to purchase discretionary fund manager Parmenion.
Reports suggest that talks are well underway, but that no price has been agreed.
AAM declined to comment on being contacted by IFA Magazine.
Parmenion is structured as a limited liability partnership, with a number of major investors. Parmenion, which for the year ending 31 March 2015 posted pre-tax profits of £2.4m, has assets under management of nearly £2bn, serving around 26,000 clients.
Article originally posted by IFA Magazine (www.ifamagazine.com)