Private bank Brown Shipley has acquired Hampton Dean, a chartered independent firm of financial planners.
The amount paid is undisclosed and Hampton Dean, which is based in Nottingham and has a total of 46 staff, will become a subsidiary of Brown Shipley.
The deal, says Brown Shipley, is part of their strategy to build and deliver a leading financial advice proposition for its clients.
Hampton Dean is said to have a national reputation in the UK medical sector, which Brown Shipley sees as a new area of expertise within their group. It also has potential growth opportunities, now made easier as part of Brown Shipley.
Established over ten years ago, Hampton Dean manages client investments worth nearly £500m and advises a wide range of individuals, from retirees to professionals, doctors and business owners.
Brown Shipley CEO Ian Sackfield, said: “I am pleased to announce today’s acquisition of Hampton Dean, as it supports our ambitious growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients. The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients, so I am confident the new team will make an important contribution to Brown Shipley and its future success.”
Hampton Dean Managing Director Steve Collyer said: “We are excited to be joining Brown Shipley, as it is a business with clear growth plans and a vision for the future. Brown Shipley and Hampton Dean have worked together in the past, we know the business well and this is an exciting development in Hampton Dean’s history.”
Brown Shipley celebrated its bicentenary in 2010. Owned KBL European Private Bankers, it provides core wealth management services for high net worth clients, comprising investment and fund management, self-administered pension schemes, estate planning and banking services.