Private bank Brown Shipley has acquired financial planners Hampton Dean as part of its strategy to offer clients a financial advice proposition.
The Nottinghamshire-based chartered firm, which will be a subsidiary of Brown Shipley, has more than 4,000 clients and £4.4bn assets under management.
Brown Shipley provides investment management and wealth management, along with private banking services.
Ian Sackfield, chief executive of Brown Shipley, said: “It supports our ambitious growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients.
“The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients.”
Fred Hansson, partner at London-based IMAS Corporate Finance and M&A adviser, last month said that the IFA sector was one of the few financial services in which consolidation was still taking place and was set to continue.
Brown Shipley is the London-based subsidiary of KBL European Private Bankers, which operates in 47 locations across nine European markets.
Background
Over the past few weeks there has been a flurry of activity with the acquisition by Bellpenny of Surrey-based TJ Financial Services, bringing in £34m FUM, and Devon-based TOR Financial Advisers, bringing in £22m FUM.
European Wealth bought financial planners Greensnow, Sanlam UK set out plans to buy Caerus Portfolio Management and AFH Financial Group acquired Independent Financial Services.
