Leicestershire-based wealth manager Greyfriars Asset Management has acquired the independent financial services division of Chesham Insurance Brokers.
The partnership will add commercial and private insurance specialist assistance to Greyfriars, which reported more than £850m assets under management at the close of 2015.
Gareth Roberts, partner and head of advice at Greyfriars, explained through this vertical integration, the firm can expand the proposition it offers to both corporate and private clients.
“The partnership enables us to increase our specialist areas and widen our client proposition, setting the foundations for further expansion throughout the UK and internationally.”
Chesham’s chief executive Tom Bartleet said their clients were increasingly looking for specialist independent financial advice from a trusted partner and his business therefore wanted to build a solution that would cater for that demand.
“This partnership gives us the resources and expertise we need to be able to build on our client services and add value to our current proposition.”
Chesham has over 40 years worth of experience in the commercial and personal insurance sectors, serving clients throughout the UK.
Mr Roberts added that Greyfriars’ parent company Best International is an expert in peer-to-peer lending and capital raising strategies for SMEs.
He said: “There are therefore numerous synergies across the business, which proved highly attractive and the making of a successful acquisition.”
peter.walker@ft.com
