Industry commentators have said Shackleton’s acquisition of Hurst Point will cement the firm as a major competitor in the UK advice market, while warning the integration process is likely to result in some redundancies as the combined business looks to realise efficiencies.
The deal, announced last month, will create an enlarged business with around £17.5bn in assets under advice and management, more than 44,000 clients and over 850 employees across 38 offices nationwide. The transaction is expected to significantly strengthen Shackleton's market position. "Shackleton is already an established consolidator, and the addition of Hurst Point's clients and assets to create a group with circa £17.5bn in assets propels the business into becoming a major player in the market going forward," said Catalyst Partners partner Roderic Rennison. "Paul Feeney has a ...
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
