InvestmentsMay 17 2023

Titan Wealth buys Ravenscroft's UK investment management business

Search supported by
Titan Wealth buys Ravenscroft's UK investment management business
Jon Ravenscroft, group CEO of Ravenscroft.

Titan Wealth Holdings has entered into a share purchase agreement to acquire Ravenscroft’s UK-based investment management business for an undisclosed sum.

The deal will take Titan Wealth’s AUM to £9.4bn and strengthen its client to custody solutions and services.

Guernsey-based Ravenscroft, which has a majority shareholder in Hargreaves Lansdown's co-founder Stephen Lansdown, is a wealth management business with two offices in the UK and AUM of £600mn.

It provides discretionary, advisory and execution-only services to nearly 2,300 clients.

It will also allow Ravenscroft to focus on the offshore market.Jon Ravenscroft

Andrew Fearon, joint CEO  and Head of M&A at Titan said: ‘Ravenscroft is a well-run business possessing a high-quality, loyal client base. 

“The business will integrate with our network, enabling greater distribution of the investment and advisory offering that form part of our client to custody solutions and services.”

The teams from both of Ravencroft’s offices will move across to Titan Wealth.

The Peterborough office’s investment proposition is largely bespoke, investing predominantly in funds and with some equities. 

The Bishop's Stortford office investment proposition is primarily based on "model-style" portfolios. 

Jon Ravenscroft, group chief executive of Ravenscroft, said: "Titan has acquired a number of asset management firms in accordance with its growth strategy and we have spent a considerable amount of time ensuring they were the correct fit."

He added: “It will also allow Ravenscroft to focus on the offshore market – which we know extremely well – where the large majority of our clients, shareholders and staff remain.”

At the start of this year, Titan Wealth bought Northamptonshire IFA Telford Mann, which has assets under administration of £750mn, and provides both financial advice and a range of model portfolios for its clients.

The acquisition comes after Titan Wealth said it was looking to make a few strategic purchases of bigger IFAs this year.

It comes after a busy period for the company, which launched in summer 2021 with the acquisition of GPP and Tavistock Wealth's former DFM arm, now Titan Asset Management.

As reported by FTAdviser back in 2017, Lansdown said he wanted Ravenscroft to "take on the fund giants". 

The deal saw a 10-year strategic partnership agreed between the two companies, with Tavistock acting as Titan's retail distribution partner.

It then embarked on a wave of purchases, including Baggette Asset Management, Cardale Asset Management, and alternatives distribution business Haibun.