M and A
Deals Of The Day: The Latest In Wealth Management M&A - Tenet
The latest M&A deals in wealth management.
Tenet
Tenet has bought
northwest UK wealth firm Derbyshire Booth, which will continue to
trade under its own brand as a subsidiary of Tenet’s advice
company, Aspire Financial Management. The move expands Tenet’s
Preston-based hub. Tenet also has hubs in Northampton and
Cardiff.
Derbyshire Booth director, Greg Heath, will stay with the company
to help expand the business, sharing the Preston premises with
Elementum, an acquisition Tenet made in October last year. Heath
has been a member of Tenet’s investment network, TenetConnect,
since 2003 and the sale was made as part of his succession
planning.
The transaction is the 13th practice buyout in a scheme which was
launched in January 2018 to offer Tenet’s network member firms an
exit strategy for retirement, providing peace of mind regarding
the continuity of advice standards for clients. The group offers
a range of deals, from smaller client bank acquisitions and share
purchases, to larger company buyouts.
