Applewood completes second acquisition with purchase of Simply Ethical

The firm, which provides ethical investment advice and was part of the Financial Limited network, has £20m in assets under management and a client base of 150. Its owner is retiring. The deal marks Applewood's second acquisition, following the purchase of North Wales-based Ravencourt last year. Karl Hartey, Applewood managing director, says the deal goes some way to achieving his target of amassing £100m in additional assets over a 12-month acquisition spree. "This deal, together with the purchase of Ravencourt, means we have acquired £60m in assets in four months," he says. Har...