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Discretionary manager James Hambro takes over IFA Calkin

Combined firm will offer full suite of services from discretionary portfolio management to financial planning.

By Donia O'Loughlin | Published Aug 16, 2012 | comments

Discretionary manager James Hambro & Partners has announced that it is to merge with independent financial advice firm Calkin Pattinson & Company, creating a combined business with assets under management and administration of £1bn.

The group, which will trade under the James Hambro & Partners brand, will offer a full suite of services ranging from bespoke discretionary portfolio management to financial planning services.

James Hambro said the two businesses are highly complementary, with both being based in St James’s, London and operating in the same sectors of the market.

The firm added the combined service is “ideally positioned” to attract new clients, particularly those dissatisfied with the service offered by the large banks and that it would be able to take advantage of the new Retail Distribution Review rules being implemented from January 2013.

James Hambro, chairman at James Hambro & Partners, said: “We are delighted to be merging with Calkin Pattinson. In an increasingly complex financial environment, the ability to offer a broader range of services to clients will be important.

“The two businesses are like minded and the combination will give us a firm platform for further growth.”

Charles Calkin, chairman and chief executive at Calkin Pattinson, added: “We believe that this experience, performance and shared ethos of two growing companies will offer a highly attractive financial planning and investment proposition.”

On completion of the deal Charles and Paul Calkin will become partners in James Hambro & Partners.

Andy Steel, who will lead the combined James Hambro Group as chief executive said: “We have attracted a considerable amount of business from major banks in the last year and we expect this to accelerate with a broader service offering in place.

“In a post-RDR world the combination of independent financial advice with a tailored portfolio management capability should further increase our ability to attract business”.

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