Brewin Dolphin buys Bath-based IFA

Brewin Dolphin buys Bath-based IFA

Brewin Dolphin has acquired a Bath-based IFA for an undisclosed sum, amid "pent up demand" for financial advice across the UK. 

The wealth management company is expected to complete its purchase of Epoch Wealth Management in the summer, with the IFA's managing partner and team of 37 staff set to transfer to Brewin Dolphin alongside their clients. 

Epoch has around 700 clients advised by eight advisers and approximately £500m in assets under advice.  

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Epoch's current premises will become Brewin Dolphin's Bath office, bringing the wealth manager's total number of offices in the UK to 31. 

Epoch's managing partner Barry Newbury has been appointed as head of office designate for the Brewin Dolphin Bath branch. 

A UK FTSE 250 company, Brewin Dolphin's intermediary business manages more than £11bn of assets for 1,000 advice firms, either on a discretionary basis or via its managed portfolio service. 

Nick Fitzgerald, managing director of financial planning at Brewin Dolphin, said he is seeing a "pent up demand for good financial advice" across the country, especially in "uncertain times".

He said: "Barry and his team have built Epoch Wealth Management into a successful business trusted by their clients.

"We’re so pleased that their advice-led team are joining us to continue their growth journey, and as one of the UK’s largest wealth managers we’re able to provide them with the resources they need to provide their excellent advice to more clients and to grow."

Barry Newbury, head of office designate for Brewin Dolphin, Bath, said: "We’ve grown Epoch to this point by cultivating great people who have built strong relationships with clients and those who refer their clients to us.

"Becoming part of an integrated wealth management firm like Brewin Dolphin will give our clients even more support; whether it’s insight from their central research function, head office support or financial support to grow the business.

"Meanwhile, we plan to go from strength to strength with ambitious growth plans with the same team that has served our clients so well for many years, but now under the Brewin Dolphin name."

Earlier this month Brewin Dolphin revealed its interest in buying the Irish wealth management arm of Investec Wealth Management, claiming it was in exclusive talks with the company but with no guarantee any transaction would happen.