Hurst Level acquires 2 workplace wealth supervisor

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Personal equity-backed Hurst Level Group has acquired Gore Browne Funding Administration (GBIM) and can merge it with Hawksmoor Funding Administration.

The deal is for an undisclosed sum.

Jersey-based Hurst Level Group was launched in 2019 to handle investments by non-public fairness agency The Carlyle Group within the UK wealth sector.

Final 12 months it acquired Hawksmoor Group, which grew to become a separate subsidiary and now homes its funding administration division.

GBIM was based in 2004 as a boutique funding administration agency and wealth supervisor providing discretionary providers nationally from places of work in Harrogate and Salisbury.

Its 15 funding professionals present discretionary administration providers to quite a lot of shoppers all through the UK and abroad providing bespoke, diversified, multi-asset portfolio administration for personal shoppers, household trusts, charities, pension funds, firms {and professional} advisers.

Hines Associates acted as monetary adviser to the deal which has accomplished following receipt of FCA approval.

Hawksmoor, which managed near £1.6bn of shoppers’ property on the finish of 2021, is headquartered in Exeter, with places of work throughout the UK, and gives comparable discretionary administration providers for personal buyers and shoppers {of professional} advisers together with trusts, pension schemes and charities. It additionally manages multi asset funds-of-funds and a collection of risk-based mannequin portfolios for monetary advisers.

Gore Browne and Hawksmoor will merge to change into a single funding administration enterprise, nevertheless the Gore Browne title, model and places of work can be retained.

The corporate stated the GBIM places of work will complement its current workplace areas of Exeter, London, Bathtub, Taunton, Dorchester and Bury St Edmunds, whereas on the similar time increasing its geographical attain.

Hawksmoor chief govt Sarah Soar stated: “We’re delighted to welcome the GBIM workforce. It’s clear that they share our values and have a robust emphasis on shopper satisfaction. Combining their data and experience with the Hawksmoor workforce will permit us to broaden our providing throughout the South and the North-East as we welcome the workforce throughout two new places of work and proceed to develop the enterprise.”

Hurst Level made its first funding in March 2020 with the acquisition of Harwood Wealth Administration. On the finish of 2020, Harwood bought Argentis Monetary Planning and the agency rebranded its Monetary Planning acquisitions to Argentis Group.

Hurst Level acquired Monetary Planner and wealth supervisor Metis Wealth and Metis Asset Administration in July, with Metis Wealth changing into a part of Argentis and Metis Asset Administration becoming a member of Hawksmoor. It made two different Monetary Planning acquisitions in July – D Heaton in Newcastle-under-Lyme and Wealth Creation & Administration, primarily based in Christchurch.

Hurst Level acquired six Monetary Planning companies in 2020: Cameron Lewnes, Portcullis Wealth Administration, Russell Marlow, Hazlewood Funding Companies and elements of Gallagher’s Monetary Planning division.




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