Rathbones drives growth with HNW firm acquisition

To acquire Vision Group

Rathbone Brothers is to acquire specialist financial advice network Vision Group for an initial consideration of £5m as part of its continuing growth strategy.

The wealth manager will acquire the remaining 80.1% in Vision Independent Financial Planning and Castle Investment Solutions, part of the wider Vision Group. Rathbones has agreed to pay £5m plus the net asset value of the acquired business on completion. It purchased a 19.9% stake in the company for £2m in October 2012. It will also pay up to a further £13m for the business between completion and early 2020, dependent on Vision meeting growth and operational targets. The group said the acquisition of the remaining stake is part of its strategy of broadening its distribution and acc...