PE-backed Hurst Point acquires Metis businesses

Hurst Point Group has acquired Metis Wealth and Metis Asset Management, a financial consultant based in Sussex. 

Hurst Point Group was founded by its parent firm Carlyle – a multinational private equity company – back in 2019, for the purposes of investment and consolidation. 

The deal will add £750m assets under advice and £190m of assets under management to Hurst Point – bringing the Carlyle subsidiary’s total assets to around £8bn. 

Hurst Point’s financial planning division managing director, John White, said: “We are thrilled to be welcoming Metis into the group. It has been most enjoyable working closely with founders Simon and George on the transaction over the last six months and we very much look forward to them and the whole team joining the business. 

“It is clear that Metis is a first-class financial planning business for high-net-worth clients, and growing our capabilities in this area is an important strategic priority for our business.”

Metis Asset Management will join Hawksmoor Group, while Metis Wealth will join Argentis Group, the respective investment management and financial planning arms of Hurst Point.

Metis founders George Delaney and Simon Arthur, said: “We very much look forward to becoming part of Hurst Point Group and continuing the journey of growing our business whilst further enhancing our client proposition. We are confident this move will have a very positive impact for both our clients and the exceptional Metis team. 

“It was of paramount importance to us that Metis was joining forces with a firm that not only offered opportunities for growth to all the Metis team but also where their culture and future goals were aligned with our own.”

The acquisition follows the recent trajectory of private equity firms and multinationals taking stakes in UK financial adviser businesses, such as deals made by the likes of MGUK and HPS Investment Partners.

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Louise Jeffreys is managing director of Gunner & Co, an IFA broker with values based on strong relationships built on trust, credibility and value.

Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.