Collins Stewart, the UK-based financial advisory and wealth management group, remains on the acquisition trail and is close to making a bid for Andersen Charnley, the Surrey-based wealth manager, Citywire reports.

According to the report, City headhunters have been busily trying to place Andersen Charnley staff who are nervous about the security of their jobs if the firm is acquired. Unnamed sources cited by the publication said the deal is tipped to go through this month, but may fall through if too many Andersen Charnley employees opt to depart.

Collins Stewart declined to comment on the matter when contacted by WealthBriefing, while Andersen Charnley had not responded to enquiries on the matter at the time of publication.

Collins Stewart has been prominent for making several acquisitions over the past few years and in March of this year acquired the Guernsey- and Geneva-based Corazon Capital Group for a £1 million cash consideration and a £6 million deferred consideration to be satisfied by issuing Collins Stewart shares.

Collins Stewart is reported to have a further £69 million in its acquisition warchest, as at end-April.