Schroders Group subsidiary Benchmark Capital has accomplished the acquisition of Derry-headquartered Waterhouse Monetary Planning for an undisclosed sum.
This acquisition establishes a presence for Benchmark in Northern Eire and can add over £120m to the prevailing £2.1bn ($2.63bn, €2.46bn) of consumer property in its nationwide recommendation enterprise.
It additionally will increase Benchmark’s complete variety of monetary advisers to 64 throughout seven places of work within the UK.
The Waterhouse staff will stay within the enterprise following the acquisition, offering continuity of service to purchasers.
Thomas Leonard will give attention to creating the enterprise throughout the area, with Sinead Meenan main the monetary planning follow.
Benchmark and Waterhouse see “important progress alternatives” in Northern Eire and are dedicated to constructing on their presence in Derry, in addition to additional enlargement within the area.
Benchmark has invested in new places of work in Derry to help latest progress and to offer a chance to additional construct the native staff and broaden the enterprise.
Ed Dymott, managing director of wealth at Benchmark Capital, stated: “We’re excited that Waterhouse has change into a part of Benchmark and see important alternatives to additional develop the enterprise in Northern Eire. Waterhouse initially partnered with Benchmark in 2018 and has subsequently been capable of profit from our mixture of expertise, compliance and follow administration companies to help the expansion of their enterprise.
“Waterhouse has a implausible popularity with an amazing consumer base and employs a few of the greatest chartered monetary planners within the area. We’re not solely delighted to have supported the expansion of the enterprise over the previous few years however to additionally now be capable of assist realise worth for the administrators in a manner which gives the perfect outcomes for his or her purchasers and staff.
“We look ahead to working with Tom and Sinead within the subsequent section of the expansion of their enterprise.”