Wealth management and stockbroking business Redmayne Bentley is to acquire the private client business of failed discretionary fund manager (DFM) Blankstone Sington subject to regulatory approval.
The Liverpool-based DFM went into special administration in October last year. The Financial Services Compensation Scheme declared the business failed in February. Administrators Leonard Curtis secured all client assets and safeguarded the company's systems. Redmayne Bentley said administrators believe the most favourable solution for Blankstone Sington clients "is for a transfer of their money and assets to a single broker which is also regulated by the FCA". It addecd that the transfer would enable clients to be "reunited with their assets and provides them with a secure home for...
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