The London-based private client wealth manager bought the 19.9 per cent stakes in Vision and Castle from the companies’ founders Roger Edwards and Paul Sweaton and their spouses.
The companies have also entered discussions which would result in Rathbones buying the remaining 80.1 per cent of Vision and Castle in 2015 for a combination of cash and Rathbone shares, with a further potential deferred payment due in 2018.
If Rathbones does not buy the rest of the two companies the founders may buy back the 19.9 per cent stakes at the sale price.
Vision was founded in 2009 and provides advice on a range of financial services products from mortgages through to investments. Castle was established in the same year as its sister business and provides discretionary portfolio management services.
