Punter Southall Group has taken a further step to increase the scope and scale of its financial planning service by acquiring the employee benefit and private client financial planning business of Blacktower Financial Advisers.
The transaction with the Surrey-based IFA sees the group’s number of private clients rise by nearly 20 per cent to almost 5,000. They will benefit from the creative investment expertise which generates tailored solutions for private, institutional and corporate clients across the group.
Punter Southall Financial Management Managing Director John Hamilton-Hunt said: “Both companies share the same professional, personal approach which seeks to foster long-term client relationships and positive outcomes. Add to this the fresh thinking and innovation from our investment teams across the group and we can better serve the objectives and expectations of our clients.”
Blacktower’s Managing Director, Chris Bruce, said: “This is an exciting development for us. Our client relationships will continue to strengthen because they will be able to access a broader and deeper range of personal and corporate planning services as part of a like-minded but larger organisation.”
He added that Blacktower’s New Malden-based staff would join their new colleagues at Punter Southall Group’s office in nearby Guildford.
PSG’s latest transaction in the financial planning sector comes after it took a minority stake in the Argentis Financial Group in March to form a strategic partnership and aid its commercial expansion. The group also merged and floated its institutional investment arm, P-Solve, in June to form River and Mercantile Group plc.