M and A
Deals Of The Day: The Latest In Wealth Management M&A – Titan Wealth, Prism
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The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Titan Wealth, Prism Financial Advice
Titan Wealth,
the UK wealth manager backed by Parthenon Capital Partners and
Ares Management Holdings, has bought Prism Financial Advice in
the northeast of the UK.
The acquisition will increase Titan Wealth’s total assets under
management/advice to more than £12.6 billion ($15.5 billion),
taking it closer to its goal of reaching AuM of £40 billion in
the next three to five years.
Prism, which was founded in 2005, and is based in Gateshead,
has a team of 17 advisors, 25 support staff and more than
£630 million in assets under advice.
Under terms of the deal, Prism will be fully incorporated into
Titan.
The acquisition – the financial terms of which were not
disclosed – is subject to regulatory approval.
