Bestinvest buys SMA

The deal will create a business with profits of more than £3m and client assets of more than £2bn. Bestinvest’s headcount of 54 - all based in London’s Mayfair - will be boosted to 100, including 43 registered advisers. John Spiers, controling shareholder, chairman and managing director of Bestinvest becomes chief executive of the new combined business, with SMA chairmand and chief executive Peter Howland becoming chairman. The combined business will offer discretionary investment management, private client advice and financial planning, employee benefits consultancy, group and ind...