Quanta Group swoops for Craven Street Wealth

A financial services firm has expanded with a takeover.

The Quanta Group has bought Craven Street Wealth.

Bosses say the deal marks Quanta Group’s “next step in broadening its wealth management proposition”.

They add it will boost London-based Chartered independent financial planner Craven Street Wealth’s ambitions to pursue future takeovers.

Craven Street Wealth – which has further offices in Bedford, Kent, Oxford, Poole and West Sussex – joins Wealthtime, Wealthtime Classic and discretionary fund manager Copia Capital in Quanta Group’s stable.

Under the terms of the deal, the firm, which manages about £2 billion of assets for more than 3500 clients, will remain a separate business with its own management team.

Patrick Mill, Quanta Group chief executive, said: “We are committed to building a next-generation financial services group that delivers significant value to advisers and clients. 

“The acquisition of Craven Street Wealth further expands our offering to include independent financial advice, and we look forward to supporting the team as it continues to grow.”

Tom Barnett, Craven Street Wealth managing director, added: “In considering the next phase for the business, it was essential we could find an investor completely aligned to our focus on providing high-quality advice and solutions, while also recognising the opportunities that arise from significant regulatory and technological change. 

“I look forward to the opportunities ahead.”

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