Harwood Wealth Management Group has acquired Southampton-based chartered IFA AE Financial Services from AE Insurance Services for up to £4.6m plus £1.54m in respect of net cash balances.
The UK-based financial planning and discretionary wealth management business said the deal, which has been approved by the FCA, would provide Harwood with "a strategic hub" in Southampton and enhance "its already established and growing presence along the South Coast". It also looked forward to further M&A activity "in the period ahead". In a statement, the group added: "AE Financial will continue to operate as a standalone brand and will benefit from Harwood's processes, technology and investment strategies. This is the group's most significant acquisition to date and demonstrates Harwo...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
