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Wednesday, January 31, 2024

Personal equity-backed agency acquires Metis Wealth

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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 personal 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 has roughly £750m of belongings below recommendation and £190m of belongings below administration, which is able to take Hurst Level’s total belongings below recommendation and administration to shut to £8bn on completion of the deal.

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 provides 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.

Mr Delaney and Mr Arthur mentioned: “It was of paramount significance to us that Metis was becoming a member of forces with a agency that not solely supplied alternatives for development to all of the Metis workforce but in addition the place their tradition and future targets have been aligned with our personal. To this finish, and with the help of our company advisers, IMAS, we really feel we now have discovered the right setting at Hurst Level Group.

“We’re assured Metis will proceed to go from strength-to-strength within the coming years and past. We want to thank our loyal shoppers and the Metis workforce for being an integral a part of our enterprise thus far and we look ahead to an thrilling future collectively.”

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 belongings below administration, 400 shoppers and 6 employees members.

Final 12 months the personal 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 belongings below administration and 5,000 shoppers.

The offers to accumulate Cameron Lewnes, Portcullis Wealth Administration, Russell Marlow, Hazlewood Funding Companies 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 shoppers and was its largest Monetary Planning acquisition thus far.


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