News

14
Apr

Waverton acquires Scottish-based Cornerstone

Waverton Investment Management Group has announced that it has acquired wealth planner Cornerstone Asset Management. The deal is subject to regulatory approval.

Established in July 2010, and with offices in Edinburgh and Glasgow, Cornerstone offers wealth management and financial planning advice. With some 1000 clients, Cornerstone advises on £500m of assets under management and has a team of 22.

This latest acquisition represents an expansion of Waverton’s regional footprint. It will allow for an augmented service proposition, integrating wealth planning and discretionary investment management for clients. Waverton first began substantially expanding into offering a full-service proposition with its acquisition of Timothy James in 2019.

Commenting, Nick Tucker, Chief Executive at Waverton, said:

“We have known Cornerstone for some time, having managed their Active Multi-Asset Portfolio range since 2012. They have built a highly regarded growth business over the last decade and the broadened proposition is a demonstration of our shared belief that ‘if it works for clients, it works for us’. The acquisition is testament to our belief in goal-based wealth management and will provide a springboard for the development of our service offering private clients, and entrepreneurs in general.”

Alan Reid, Founding Partner at Cornerstone, also commented:

“We are thrilled to be joining the Waverton Group, which has an excellent reputation and shares our culture and vision on how best to support clients and employees. They are a very forward thinking and ambitious organisation. This is an exciting development for our team and means we can continue to expand our growth plans even further.”

It you would like to know more about selling to Waverton, contact Louise Jeffreys.

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