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South African wealth manager buys London advice firm

South African wealth manager buys London advice firm

South African wealth manager Alpha Wealth has bought a majority stake in London-based advice firm Holborn Financial.

The acquisition, for an undisclosed sum, is part of Alpha's plans to grow its presence in the UK.

Holborn Financial, which is based in Wimbledon, has chartered status and a team of three advisers.

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It advises some 150 business owners and private clients with around £150m of assets under influence.

Kerry Fynn, Alpha Wealth's chief executive, said: "We are delighted to be able to partner with the team at Holborn Financial and this acquisition marks the beginning of a new and exciting chapter for both of us as we collaboratively grow the business.

"Alpha has decided to expand its UK presence through this acquisition to support the growth of Holborn Financial and we are very pleased to be on this journey with the Holborn team."

Emyr Blease, who founded Holborn in 1988, will continue as managing director and Nigel Speirs, the former managing director of Quilter Private Client Advisers, will join the business as chairman.

Blease said: "We have built up a successful business advising discerning private clients, individuals who run and manage their own business and those in or seeking a comfortable retirement.

"We have the same values as Alpha, primarily providing excellent levels of personal service. We look forward to growing our business both organically and through acquisition.

"Alpha's expertise, resources and support will be fundamental to the successful roll out of the merged firms."

Alpha Wealth was founded in 2005 and has assets of more than R11bn (£550m).

It has offices in Johannesburg, Cape Town, Durban, London, Geneva and Mauritius.

damian.fantato@ft.com