Ashcourt Rowan PLC Update re: Acquisition (1468E)
April 07 2014 - 1:00AM
UK Regulatory
TIDMARP
RNS Number : 1468E
Ashcourt Rowan PLC
07 April 2014
7 April 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, TO US PERSONS, OR INTO THE UNITED STATES, OR INTO OR
FROM CANADA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL
ASHCOURT ROWAN PLC
("Ashcourt Rowan" or the "Company")
Ashcourt Rowan aims to grow share of financial planning and
corporate market following completion of UKWM acquisition
07 April 2014: Ashcourt Rowan has completed its acquisition of
UK Wealth Management Limited (UKWM) having obtained Financial
Conduct Authority (FCA) approval. This increases its nationwide
footprint to 17 offices and its assets to over GBP5 billion, of
which GBP2.2 billion is discretionary and managed. The enlarged
financial services group will offer a range of services to
individuals, families, business owners and employers including
financial planning, discretionary fund management and employee
benefits and corporate financial planning.
Commenting, Jonathan Polin, group chief executive officer,
Ashcourt Rowan, said: "This acquisition gives us scale across our
areas of operations, particularly in financial planning and
pensions at a time when the spotlight is firmly on the choices
individuals have to make and reinforced by the latest budget
announcement. The opportunity exists to significantly increase our
market share in the personal and workplace pension markets."
"We are particularly pleased to welcome Gareth Sawyer to the
group who will help us drive the opportunities as head of Ashcourt
Rowan Corporate Solutions, working side-by-side with Gaius Jones
and Harry Burnham as heads of our financial planning and asset
management businesses."
"This is our second acquisition in 12 months and together with
the operational changes we have made to our business, we are
well-positioned to take further advantage of the growth and
consolidation opportunities that are in the sector."
ENDS
Ashcourt Rowan plc provides a range of expert, integrated wealth
management and employee benefits consultancy services for
individuals, families, charities and trusts, business owners and
employers.
Our financial planners, investment managers and consultants
deliver services to clients on a face-to-face basis nationally,
supported by dedicated technical departments in London and
Leeds.
Headquartered in the City of London, Ashcourt Rowan has offices
in Bath, Bournemouth, Brighton, Cambridge, Chelmsford, Exeter,
Leeds, Macclesfield, Maidstone, Manchester, Pontefract, Rugby,
Salisbury, St Andrews, Winchester and York.
For further information please contact:
Rishi Zaveri Cantor Fitzgerald Europe (financial adviser and joint broker) +44 (0) 20 7894 7667
Guy Wiehahn
Harry Florry Peel Hunt LLP (Nominated adviser and joint broker) +44 (0) 20 7418 8900
Media enquiries:
Emily Morris Ashcourt Rowan plc +44 (0) 20 7871 7250
Marina Burton/Daniel Yea Maitland +44 (0) 20 7379 5151
Notes:
Unless the context otherwise requires, defined terms used in
this announcement shall have the meanings ascribed to them in the
Company's announcement dated 13 December 2013.
This announcement is for information purposes only and does not
constitute an offer or invitation to acquire or dispose of any
securities or investment advice in any jurisdiction.
Neither the contents of the Company's website nor the contents
of any website accessible from the hyperlinks on the Company's
website (or any other website) is incorporated into, or forms part
of, this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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