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UK Financial Advisor Expands With Fund Acquisition
Tom Burroughes
7 September 2009
Brooks Macdonald, the UK-based financial advisory and investment firm, has acquired all of Lawrence House Fund Managers, for a total amount of £2.75 million ($4.5 million), depending on certain conditions based on funds under management. The acquisition will be paid out of existing cash resources, Brooks Macdonald said in a statement. Lawrence House has about £65 million under management and the firm is based in Canterbury, Kent. Under the deal, two existing members of Lawrence House's staff will join the group: Alan Stokes (fund manager) and Carol Evins (new business development). In addition, Lawrence House's sister company, Pharon Independent Financial Advisers, is entering into a Strategic Alliance with BMG to provide investment management services for its clients.