National wealth manager Ashcourt Rowan has opened a new office in Exeter as a “central point of contact” for the firm’s clients in the region following consolidation of its previous businesses in Torquay and Taunton.
Meanwhile, West Country-based advisory firm Stafford House Investments has bought Somerset-based AC Mole & Sons Financial Services – the advice division of an accountancy firm of the same name – for an undisclosed sum as part of ongoing expansion plans.
The deal will raise SHI’s total funds under management to more than £90m.
SHI, which is owned by Bristol-based wealth manager and stockbroker Rowan Dartington, has also taken on a partner at AC Mole, Christopher Loveluck, as non-executive director.
AC Mole will retain its trading name and continue to operate from its Taunton office.
Jeremy Wake, chief executive of SHI, said: “This was a natural step for us as we look for ways to grow our business. Both parties have worked together in the past and already have many clients in common.”
| Background |
SHI is among many firms hitting the acquisition trail. Scottish firm Argyle Consulting purchased Edinburgh Risk Management this month. National wealth manager Bellpenny made its biggest acquisition yet with Gloucestershire-based The County Partnership in May, bringing in an estimated £200m in funds under management. |
