London advisory business acquired by Yorkshire financial planning firm for undisclosed amount

A Yorkshire financial planning firm has announced its acquisition of a London advisory business for an undisclosed amount.

Wren Sterling, which is backed by Palatine Private Equity, has acquired independent financial advisory business Frobisher Capital Ltd in a deal with Corimar Holdings.

The details of the deal are undisclosed, but will add approximately £68m to Wren Sterling’s assets under advice.

This is Wren Sterling’s fifth acquisition and is part of its ongoing growth plan.

Ian Halley, Wren Sterling’s CEO, commented: “Frobisher Capital is a great business with a loyal client bank, so I’m delighted to welcome their clients to Wren Sterling. I know that our service will provide continuity and expertise for them and their families.”

“This is our fifth acquisition and it fits with our strategy of growing the business organically whilst augmenting this approach with the purchase of businesses with high quality assets.”

Andy Strickland, senior investment director at Palatine Private Equity, said: “This strategic acquisition will add further scale to the Wren Sterling business, which now has £3.6bn worth of assets under advice.

“Through both strong organic growth, as well as a successful buy and build strategy, Wren Sterling has performed extremely well since our initial investment, which is testament to the great work being done by Ian and the rest of the management team.”