SJP partner firm buys Cambridgeshire-based adviser

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SJP partner firm buys Cambridgeshire-based adviser
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Apollo Private Wealth has bought fellow St James's Place firm Debra Wait Wealth Management.

The deal is part of Apollo’s growth strategy in the high net worth space and takes its assets under management to £300mn. 

The firm said it demonstrates how the SJP partnership offers a range of succession planning, phased retirement, and growth options for its practices.

Nauman Gondal, Apollo’s founder and chief executive officer, said Debra Wait is an “outstanding SJP partner” who shares the firm’s commitment in client care and service.

“Over the past year, we have worked extremely closely, getting to know her business and helping execute a succession strategy that ensures the business is future-proofed if she were to look towards retirement, and ensuring her exceptional client relationships are maintained,” he said.

“This acquisition is a key part of Apollo’s growth strategy to broaden our national footprint, bringing integrated financial advice and services to more clients across the UK.”

“We’ve enjoyed great success across London and the  South-East, and we’re excited by the opportunities this acquisition affords us to continue building the brand nationally."

Debra Wait plans to remain active in the business for at least the next 18 months to help to ensure a seamless transition for clients. 

Wait said: “It was critical that I found a proactive practice that  shared my exceptionally high client servicing standards and had the infrastructure to provide continuity and add considerable value to my clients. 

“It was clear from the outset that Nauman and his team put clients at the centre of everything they do and wanted to thoroughly understand my business. To me, Apollo was the outstanding practice to partner with.” 

sonia.rach@ft.com

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