Waverton IM boosts Scottish presence with acquisition of £500m AUM Cornerstone

1,000 clients added to roster

Mike Sheen
clock • 1 min read

Waverton Investment Management has acquired Scottish wealth planner Cornerstone Asset Management, taking on 1,000 clients, £500m in AUM and its staff of 22.

The deal, which is subject to regulatory approval, expands Waverton's regional footprint and will allow for an "augmented service proposition, integrating wealth planning and discretionary investment management for clients", the firm said.

Waverton's Tucker: We've been hiding our light under a bushel

Established in July 2010 and with offices in Edinburgh and Glasgow, Cornerstone offers wealth management and financial planning advice. 

Waverton CEO Nick Tucker said: "We have known Cornerstone for some time, having managed their Active Multi-Asset Portfolio range since 2012. They have built a highly-regarded growth business over the last decade and the broadened proposition is a demonstration of our shared belief that ‘if it works for clients, it works for us'.

"The acquisition is testament to our belief in goal-based wealth management and will provide a springboard for the development of our service offering for private clients, and entrepreneurs in particular."   

From 'speculative bubble' to 'strengthening brand': Waverton performs volte-face on Bitcoin

Founding partner of Cornerston Alan Reid added: "We are thrilled to be joining the Waverton Group, which has an excellent reputation and shares our culture and vision on how best to support clients and employees.

"They are a very forward thinking and ambitious organisation who share our core belief that successful outcomes for clients are our primary focus. This is an exciting development for our team and means we can continue to expand our growth plans even further." 

More on Investment

JPMAM's Karen Ward: Political uncertainty in markets has been replaced with 'policy uncertainty'

JPMAM's Karen Ward: Political uncertainty in markets has been replaced with 'policy uncertainty'

Same number of unknowns in 2025

Eve Maddock-Jones
clock 22 November 2024 • 4 min read
Stories of the Week: Fund groups record weaker net sales; ISA reform 'under review'; Ballie Gifford withdraws from climate initiatives

stories-fund-record-weaker-net-retail-sales-isa-reform-review-ballie-gifford-withdraws-climate-initiatives

Funds, ISAs and climate initiatives: The biggest stories from the world of investment and asset management this week

clock 22 November 2024 • 1 min read
Partner Insight: The attractions of the small-mid private equity segment

Partner Insight: The attractions of the small-mid private equity segment

New empirical research from Schroders Capital reveals that small and mid-sized private equity funds have outperformed large funds with greater resilience through economic cycles

Viswanathan Parameswar, Eufemiano Fuentes Perez and Verity Howells at Schroders
clock 19 November 2024 • 4 min read
Trustpilot