Shackleton expands with Chetwood Group deal

A Chartered financial advisory and wealth management firm has expanded with a takeover.

Shackleton has bought the Chetwood Group.

Bosses say the deal injects more than £900 million in assets under management to the London-headquartered firm’s stable and strengthens its presence across the South West.

The agreement also adds 45 staff to Shackleton’s team, pushing its national workforce to about 450.

The Chetwood Group includes Chetwood Wealth Management and Chetwood Private Wealth, based in Wellington, near Taunton; and Chetwood Investment Management, in Newton Abbot.

Its portfolio also features Cirencester’s Ermin Fosse Financial Management and Newton Abbot’s Darnells Wealth Management.

Paul Feeney, chief executive of Shackleton, which has offices across England and Scotland, said: “I’m really pleased Chetwood Wealth Management and all group firms are joining us.

“I am excited about the wealth of experience and expertise it will bring to our team.”

Mark Pendarves, Chetwood Group executive chair, added: “Becoming part of Shackleton enables us to continue doing what we do best, while drawing on wider expertise and resources to deliver the highest standards of service to clients.”

Buyside support was provided by BDO, TCC and Pinsent Masons.

The deal builds on Shackleton’s takeover of Norfolk-based Harrold Financial Planning earlier this year, which added around £300 million of assets under management to the firm.

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