Solomon Capital Holdings has completed a partnership deal with Kent-based Beaufort Financial Westerham that will see it take a minority stake in the seven-adviser strong firm.
The structure of the Beaufort Financial Westerham deal marks a considerable milestone for Solomon, becoming the first of a number of planned minority partner investments designed to appeal to a variety of adviser businesses at different points in their growth and development.
The deal is the fourth Solomon has completed in the last six months and an important building block in its ambition to build a leading national advice and wealth management business.
Commenting Simon Goldthorpe, Vice Chairman, Solomon said: “The investment in Beaufort Financial Westerham is another major milestone for Solomon and a significant step forward in terms of our regional presence and proposition.
“Taking a minority stake has facilitated the buy-out of some existing partners whilst giving the remaining management the ability to focus on the future structure, direction and success of the business.
“It is a structure we know there is demand for among certain parts of the adviser community and one we will be looking to roll out in 2023.”
Brian Davies, Managing Partner of Beaufort Financial Westerham, commented: “We have ambitious plans to grow our business and Solomon has proved to be the perfect partner to help us achieve our goals.”
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