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Monday, January 29, 2024

PE-firm extends maintain on Planning sector with Metis acquisition

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Hurst Level Group has agreed to accumulate Monetary Planner and wealth supervisor Metis Wealth and Metis Asset Administration.

The deal is topic to regulatory approval.

Hurst Level Group was launched in 2019 to handle investments by non-public fairness agency The Carlyle Group within the UK wealth sector.

Monetary Planner Metis Wealth will develop into a part of Hurst Level’s Monetary Planning arm Argentis Group.

Funding supervisor Metis Asset Administration will develop into a part of Hawskmoor Group, its funding administration division.

Metis Wealth is a Chartered Monetary Planning agency primarily based in London and West Sussex. It was based by Chartered Monetary Planners George Delaney and Simon Arthur in 2013.

The agency specialises in retirement planning, tax planning and funding recommendation. It additionally affords specialist companies to EY companions and has a specialism in working with barristers, regulation agency companions, and different skilled companies companions.

Each founders had beforehand spent over a decade working at Cavanagh Wealth Administration, which was taken over by Shut Brothers in 2011.

Hurst Level made its first funding in March 2020 with the acquisition of Harwood Wealth Administration.

The PE-backed agency has since been rebranded its Monetary Planning acquisitions to Argentis Group.

Argentis made two acquisitions earlier this month.

The wealth supervisor acquired D Heaton in Newcastle-under-Lyme and Wealth Creation & Administration, primarily based in Christchurch.

The offers for each corporations will add £100m in property underneath administration, 400 purchasers and 6 employees members.

Final 12 months the non-public fairness agency acquired Hawksmoor Group, which turned a separate subsidiary of the Hurst Level Group and now homes its funding administration division.

Hurst Level acquired six Monetary Planning corporations in 2020 with £1.25bn in property underneath administration and 5,000 purchasers.

The offers to accumulate Cameron Lewnes, Portcullis Wealth Administration, Russell Marlow, Hazlewood Funding Providers and components of Gallagher’s Monetary Planning division added roughly £6m in income and over 20 advisers.

On the finish of 2020, Harwood bought Argentis Monetary Planning, which added 5,000 purchasers and was its largest Monetary Planning acquisition to this point.


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