Asset manager and financial planner Ashcourt has announced it is merging with Rowan and Company Capital Management.
The two wholly-owned subsidiaries of Syndicate Asset Management will form Ashcourt Rowan Asset Management and Ashcourt Rowan Financial Planning, subject to FSA approval.
The combined business will be advising over 20,000 clients on retirement, trust and IHT planning and boast total investments in excess of £2bn. It will also continue to offer its discretionary fund management proposition to third party IFAs.
Rowan CEO Jeremy Wake says: "This is one of the most exciting opportunities I have ever been involved in. I really believe the combined businesses will be first class in all respects and enable us to compete at a higher level in the market place."
The merged group will have a national presence with a total of 16 offices, including in Edinburgh, Manchester, Birmingham, London and Bath.
Rod Gentry, chief executive of Ashcourt, adds: "Both companies have exceptional people working for them and business models that work very well.
"Bringing the two together makes huge sense [and] I think the sum of the parts will be far greater than keeping the businesses separate."
Regtech or fintech
Underperformance still present – for now
15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year