Whyte Sharpe, a Scottish IFA, has been purchased by Ludlow Wealth Management for an undisclosed sum.
Ludlow, which is based in Southport and has assets under management of over £850m, has significantly expanded its reach across the UK by acquiring the Edinburgh and St Andrews based advice firm. Ian Hemingway, the chief executive of Ludlow, spoke about the transaction:
“We have had a long-term plan that will see Ludlow become one of the UK’s leading wealth management business.
“Following the recent management buyout, we have been given a clear mandate and the resources by Mobeus to ensure this objective is achieved.
“We have long identified that Scotland offers us valuable growth and have always regarded Whyte Sharp as a firm that shares the same business principles and client philosophies.
“We’re now looking forward to a new chapter in our growth following the acquisition and look forward to working with our clients across Scotland.”
Gary Whyte, the former owner of Sharp Whyte who will be retiring when the transaction is complete, also commented optimistically on the transaction:
“Over the past three to four years, we have had a number of approaches from several financial institutions wishing to acquire the business.
“After considerable effort, I have found a firm in Ludlow Wealth Management, which has similar client values and work ethos to mine and therefore will be best suited to the financial requirements of my clients.
“Ludlow has a very strong Scottish arm and a most progressive outlook. Its approach and values are consistent with those of Whyte Sharp and I am confident that clients will enjoy and benefit greatly from their expertise and innovative approach.”
