Laura Miller takes an in depth look at private equity’s march into the UK financial advice sector and asks if clients are being factored into the multi-million pound deals
In dark mid-January when most of us were fortressed inside watching gloomy grey new year skies, CEO Alan Hudson was busily selling national advice firm AFH to US private equity investor Cortina Bidco for £225m. The deal, if agreed to by shareholders, will be one of the latest PE takeovers in UK wealth management in a trend with virtues, and vices, which divide opinion. (The most recent of which came on 9 March with confirmation that adviser platform Parmenion had been bought by private equity firm Preservation Capital Partners for £102m after being put up for sale by Standard Life Aberde...
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