• Thu. Jun 20th, 2024

Financial and latest tech info

Canaccord scales up Planning ambitions with Scottish deal


Nov 11, 2023


Wealth supervisor Canaccord Genuity is to accumulate Glasgow-based £220m AUM Monetary Planner Clever Capital.

The deal, for an undisclosed sum, will spur the expansion of Canaccord Genuity’s Monetary Planning ambitions in Scotland, it mentioned.

Clever Capital, based mostly in West Nile Road, was based in 1999 and is a Monetary Planning enterprise based mostly in Glasgow, Scotland with £220m in shopper property. It employs a number of Chartered Monetary Planners.

Clever Capital turn into a part of Scottish non-public financial institution Adam & Firm which manages the Scottish working enterprise of London-based Canaccord Genuity Wealth Administration (CGWM).

CGWM says that Clever Capital’s shopper proposition will stay unchanged and its Monetary Planners will probably be “totally supported” to proceed to instantly handle their shopper relationships.

Canaccord says it plans for Clever Capital and Adam & Firm to turn into “a major wealth administration enterprise in Scotland with additional progress potential.”

CGWM UK CEO David Esfandi mentioned the acquisition would offer a brand new workplace base and extra experience.

He mentioned: “We’re excited to be joined by a robust staff of deeply skilled Monetary Planning professionals from Clever Capital.

“Now we have had a superb expertise since getting into the necessary Scottish market in 2021, and the addition of a brand new workplace in Glasgow offers us extra experience within the area to satisfy the rising demand for our excellent built-in wealth administration providing.”

David Bremner, Clever Capital’s largest shareholder and present managing director, will be part of the chief management staff of Adam & Firm as head of wealth administration – Glasgow. He’ll proceed to actively handle the enterprise and can deal with supporting integration for workers and purchasers. He’ll work carefully with Matt Phillips, director of wealth planning for CGWM and Graham Storrie, head of Adam & Firm Wealth Administration.

Mr Bremner mentioned: “Now we have at all times had a robust imaginative and prescient for the way forward for Clever Capital and from our earliest conversations, we discovered that Canaccord Genuity and Adam & Firm have been utterly aligned with our values and our dedication to excessive ethics and shopper service requirements. I sit up for starting this subsequent chapter with a number one Scottish model and having the ability to supply our present and future purchasers an elevated monetary planning expertise.”

The acquisition is topic to regulatory approval and is anticipated to be accomplished by 31 March.


Leave a Reply

Your email address will not be published. Required fields are marked *