Private client stockbroker Charles Stanley Group has acquired wealth manager Jobson James Financial Services for a maximum £2.25m, the purchase price being subject to revenue targets being met over the next two years.
Birmingham-based Jobson James (JJFS) provides wealth management advice and services for both private and corporate clients including pensions and retirement planning. The company also advises on life and health assurance products and provides tax advisory services.
Charles Stanley says the move is part of wider plans to build a stronger presence in the Midlands.
Jobson James Insurance Brokers, the financial services arm's sister proposition, was not included in the acquisition and will now operate as an unconnected stand alone business.
The existing senior management team on the wealth management and financial planning side of JJFS, including Richard Venner and Miles Goodworth, will remain on the board with representatives from Charles Stanley.
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