M and A

Acquisition-Hungry Titan Wealth Wraps Up Another UK Deal

Tom Burroughes Group Editor London 16 April 2024

Acquisition-Hungry Titan Wealth Wraps Up Another UK Deal

Titan Wealth, which is targeting client assets under administration of £50 billion in five years, currently has AuA of just over £17 billion. Backed by private equity, it is an example of the kind of M&A consolidation taking place in the UK's wealth industry.

Titan Wealth Group has achieved a UK regulatory green light to complete its acquisition of Loveday & Partners, a financial planning firm in Norwich with about £600 million ($749 million) in client assets.

The transaction brings Titan Wealth’s total assets to £17.3 billion. Titan is targeting £50 billion in assets under administration over the next three to five years and assets under management of £40 billion. Titan Wealth is backed by Parthenon Capital Partners, Ares Management, and Hambleden Capital. The ownership structure highlights the role of private equity in such wealth sector consolidation. (To view an article on the trend, see here.)

Loveday & Partners was founded in 2010. Its directors, its team of advisors and administrators will stay with the business as part of the move. They have been serving more than 1,000 clients – including families, pension funds, trusts and charities.  

The move also adds to Titan Wealth’s presence in the East of England, the firm said in a statement. 

Titan Wealth provides execution, custody, clearing and wealth management services to small and medium-sized broker dealers, proprietary traders, intermediaries, family offices and wealth managers. Among recent deals, in November 2023 it acquired Bristol-based Aspira Corporate Solutions, in October of that year, it acquired Prism Financial Advice in the northeast of the UK, and in June it acquired Square Mile Investment Consulting and Research.

In November last year, Maven Capital Partners wrapped up its sale of Titan Wealth to Parthenon Capital – a US buyout firm.

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