Evelyn buys Arena Wealth’s investment management business

0

Evelyn Partners has acquired the investment management business of Arena Wealth, a London-based firm specializing in advising entrepreneurs and sports and entertainment professionals.

The acquisition brings approximately £90m of investment management assets to Evelyn Partners.

Evelyn’s managing partner, Bill Price, said there was a strong fit between the two companies, as Evelyn “has a long history of supporting sports and entertainment professionals”.

The article continues after the announcement

“This agreement recognizes our ambition to continue to grow our investment management business while ensuring that Arena Wealth’s high-profile clients will continue to receive a high-quality, personalized investment management service tailored to their needs.” said Price.

As part of the transaction, Arena Wealth portfolio manager Ashley Thompson will join Evelyn’s office in Nottingham.

Thompson has worked at Arena Wealth since 2013 and previously had experience in family offices for high net worth individuals.

Lauren Francis, who is a client administrator at Arena Wealth, will also join Evelyn Partners.

Evelyn, formerly known as Tilney Smith & Williamson, said she would continue to work with Arena Wealth on an ongoing basis as the firm’s investment management partner of choice.

Arena Wealth Director David Lumley said he strongly believes Evelyn can continue to provide the high level of investment management service Arena clients have come to expect.

Earlier this month, Evelyn completed its seventh acquisition since last year with the purchase of North East Scholes & Brown.

Other deals include FP Solutions in Essex, Capital Risk Management and MP2 Financial in Edinburgh, Equilibrium in Glasgow and 2hWealthcare in Buckinghamshire.

Evelyn’s head of strategic partnerships, Richard Dawes, told FTAdviser last month that the way the program works is for the adviser to join one of Evelyn’s offices to oversee the relocation of their clients.

The company also tries to mirror what the advisor was providing, so is not looking to move assets to another platform.

[email protected]

Share.

About Author

Comments are closed.