Acquisitive South Coast-based wealth supervisor and monetary adviser Skerritts has made its second acquisition this week with the acquisition of London-based Black Swan Monetary Planning.
The deal, for an undisclosed sum, provides £540m of belongings below administration to Skerrits which is headed by former Quilter CEO Paul Feeney.
Established in 2000, Black Swan works with personal shoppers throughout the South East of England.
Earlier this week Skerritts acquired £400m AUM Surrey Monetary Planning agency KMG Unbiased Restricted and its sister agency KMG Funding Administration Restricted.
Paul Hutton, managing director of Black Swan, mentioned his agency had been actively seeking to develop into half of a bigger Monetary Planning enterprise.
He mentioned: “We’ve spent appreciable time taking a look at firms that might complement us and guarantee we’re capable of proceed to supply an ideal vary of providers to our shoppers with the additional sources and advantages that being half of a bigger group will convey.
“Skerritts will assist us spend money on and develop the enterprise and guarantee our valued shoppers might be effectively taken care of going forwards.”
Skerritts is a Chartered Monetary Adviser and wealth supervisor based mostly in Hove.
In March 2021, personal fairness agency Sovereign Capital Companions, invested £55m in Skerritts to develop the enterprise by natural and acquisitive development. The technique has seen new workplaces added in Kent, Hampshire and London.
The at present’s acquisition will increase the variety of offers that the Skerritts Group has accomplished for the reason that Sovereign funding as much as 10. It’s also the fourth deal since CEO Paul Feeney, previously CEO of Quilter, arrived on the agency as CEO.
Final December Skerritts purchased £230m AUM Monetary Planning agency Chadwick McLean, which is predicated in Chester.
In September 2023 Skerritts Group acquired Kent-based Chartered Monetary Planning agency Ambrose Fisher, including £62m in AUM to the group.
In March Skerritts acquired Horsham-based Monetary Planner Mercier Allen & Associates, including £73m of belongings below administration. In January 2023, one other acquisition was introduced with the acquisition of Kent-based Monetary Planning Agency, Equinox Wealth Restricted, which introduced one other £62 million of AUM. In 2022, Skerritts accomplished 4 acquisitions.
Skerritts has about 50 employees serving 35,000 shoppers.
Buyside help for the Black Swan acquisition was offered by Dyer Baade, BDO, Thistle and Pinsent Masons.
