Private equity (PE) backing and hybrid advice are the direction of travel for the financial advice industry, Oaktree Capital Management-backed Atomos CEO Jonathan Polin told Professional Adviser as WTW snapped up a minority stake in the wealth management business.
The deal, announced yesterday (3 October), sees WTW take part ownership of the advice-led wealth manager with around a quarter stake in the business. WTW is expected to provide additional capital to support further growth. Atomos, previously Sanlam Wealth, is majority backed by Oaktree Capital Management (Oaktree). The firm was acquired by Oaktree for £140m in September 2021. WTW and Atomos were already working together, with the pair having agreed a strategic alliance back in 2022 that saw Atomos tap into WTW's multi-asset investment offering, giving clients access to offerings typic...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
