St James’s Place buys Bristol wealth manager

The firm has agreed to buy Rowan Dartington, a group that specialises in discretionary investment management as well as a range of stockbroking services. It is understood the deal will be in the region of £30m to £40m.

David Bellamy, chief executive of St James’s Place, said: “As our business grows, we continue to seek opportunities to broaden our investment and related services for clients. That was the rationale behind our new banking service, the St James’s Place Money Management account, we introduced in association with Metro Bank earlier this year.

“As part of that strategy, today we’re pleased to announce that we have entered into an agreement to acquire Rowan Dartington Holdings Ltd, a specialist stockbroking and discretionary investment service.

“The supplementary services, which include advisory portfolio management, direct equity, trust and charity portfolio management, will broaden the range of investment options we can offer to existing clients and enable us to access new clients who value such services.”

Graham Coxell, executive chairman at Rowan Dartington, added: “This opportunity will not only provide a strong platform for St. James’s Place to provide discretionary fund management services to high net worth clients, it will also enable Rowan Dartington to continue to develop and support the propositions and services to our existing and new private clients, as well as the broader UK financial adviser market.”

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Wednesday, July 29th, 2015 EN

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