Standard Life Wealth triples AUM with Newton acquisition

The Newton business has approximately 3,000 UK and international high net worth clients; SLW said the deal will also bring a long-only investment proposition to its own volatility-managed, target return focus. The transaction expected to complete in 7 months. All 79 Newton private client staff will transfer to Standard Life. The final price is contingent on the value of assets under management transferred to and retained by SLW. "The transaction is expected to more than triple SLW's discretionary assets, creating a private client wealth manager in the UK with increased profitabilit...