News

2
Sep

Saltus acquires Fish Financial to boost financial planning arm

The Saltus Group has acquired Fish Financial, as part of its long-term growth strategy to boost it’s financial planning arm.

Saltus, based who’s based in London and employs more than 90 people, manages in the region of £2bn in client assets.

Established in 2004 as an investment management business it launched Saltus Financial Planning in 2015.

Farnham-based Fish Financial was established in 2007 by Ian Colley to provide financial planning and wealth management advice to high-net-worth individuals and business owners.

Over the last 5 years the firm has grown significantly, they now manage £300m of client assets and employees 16 people.

The deal follows Saltus’s acquisitions of Lorica in 2020 and Consilia in March 2021.

Saltus has stated in the past it wants to appeal towards owner-managed firms who want to sell but are worried about potential damage to client and colleague relationships they’ve built.

The acquisition will see all Fish staff move to Saltus, while Ian Colley, Mark Turnbull, and Stephen McMillan will become partners in the Saltus Group.

Fish’s Farnham offices will be retained, and all clients will continue to be served by their Fish adviser and team, supported by the wider Saltus team.

Saltus’ managing partner Jon Macintosh said:

“It was clear from the outset that this was a meeting of minds. We were introduced independently by two separate parties who recognised that we were a few years ahead on the journey Fish wished to embark upon from a technology and proposition perspective.

“During the process of getting to know Ian and the team, we have found the business to be one of the most professional and well organised advice businesses we have come across.

“Long-established firms like Fish have delivered for clients over many years, and often reach a point when they are looking to take their business to the next stage.

He added: “Saltus has invested heavily over the years in making both the client and employee experience better – and it’s our job to make sure that Fish clients and staff can both take full advantage. This is what I hope will make Saltus a great match.

“Our client relationships lie at the very core of what we do, and we make sure we truly understand what clients want to achieve. I’m hugely excited about what the enhanced Saltus business can deliver in the coming years with Fish as a key part of that.”

Fish Financial managing director Ian Colley said: “We were looking at two key ways we could enhance client experience – better platform technology and improved risk management capabilities – and we were introduced to Saltus, as they had gone down the same route a few years previously.

“It quickly became clear that the core values of the two businesses were completely aligned and given that we retain a strong desire to continue to grow, it was obvious that an alliance of some sort would deliver us the outcomes we were looking for.

“We’re thrilled at the prospect of a joint future as part of the Saltus family and I would like to thank my fellow director, Mark Turnbull for his strong support and our chairman, Stephen McMillan for his wisdom and stewardship.”

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