Rathbones buys financial planning firm Saunderson House for £150m

£4.7bn FUM

Tom Ellis
clock • 2 min read

Investment firm and wealth manager Rathbones has bought South East financial planning firm Saunderson House in a £150m deal.

Buying 100% of the company's shares, Rathbones is to pay £130.2m in cash and £4.9m in new shares for the initial fee and £14.9m will be deferred. It is buying the financial planning firm from private equity house Epiris, which bought Saunderson House, alongside adviser platform and self-invested personal pension company James Hay, for £206m in 2019.  Rathbones has also agreed to pay up to £7.5m in employee incentive plan awards "aligned to the value creation of the transaction" before the end of 2024. It will pay for the acquisition through internal cash resources and a proposed £50m ...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Wealth Management

Ex-Fidelity International's Leigh Himsworth: How the push for scale is causing issues for asset and wealth managers

Ex-Fidelity International's Leigh Himsworth: How the push for scale is causing issues for asset and wealth managers

'Industry pressure'

Leigh Himsworth
clock 26 September 2024 • 4 min read
Tavistock slams Titan for taking 'vexatious' step as dispute heads to High Court

Tavistock slams Titan for taking 'vexatious' step as dispute heads to High Court

Titan's claim has 'no merit'

Isabel Baxter
clock 20 September 2024 • 1 min read
Latest from Investment IQ: US election year - Market trends to watch

Latest from Investment IQ: US election year - Market trends to watch

Join our sister site Investment IQ for the latest investment intelligence

Investment IQ
clock 04 September 2024 • 2 min read
Trustpilot