Polin: Wealth managers are prime target for private equity deals

More private equity firms are looking at buying up wealth managers as a coming savings shake-up boosts the sector's appeal, according to Ashcourt Rowan CEO Jonathan Polin.

Polin (pictured) is among the many commentators to have predicted greater consolidation in the space post-RDR, and suggested recent deals involving private equity acquirers could be just the tip of the iceberg. “Private equity is now wanting to come in. Activity has picked up over the past 12 months, and there are a lot of acquirers in what has been a very disjointed [wealth management] sector,” he said. Two high-profile private equity acquisitions in the past 12 months both involved Permira, the £18bn group which snapped up Bestinvest last November and Tilney this February. Prior ...