Nottingham wealth management firm snaps up rival

Ryley Wealth Management has bought rival Hallmark (East Midlands) for an undisclosed sum.

This deal comes shortly after relocating to offices on the NG2 business park.

Hallmark was founded in 1999 by Gary Hamson and originally operated in the independent advice sector before being invited to join St. James’s Place (of which Ryley Wealth Management is senior partner practice) in 2011. The acquisition adds six staff to Ryley Wealth Management, bringing the number of people in the business to 26, compared with 14 just 12 months ago.

David Ryley, chief executive of Ryley Wealth Management, said: “Hallmark brings considerable strength and depth to our offering and in particular expertise in the football and leisure sectors. Gary and his team have a huge amount of experience in providing bespoke, face-to-face, financial advice and they will be great assets to the business.”

Gary Hamson, founder of Hallmark, said: “We have known and respected the Ryley Wealth Management business for many years and the opportunity to join such a forward thinking firm was very compelling. Ryley Wealth Management’s investment in technology, systems and premises will ensure that our clients will receive the very best client proposition that will meet and exceed their needs. We are delighted to be part of the bigger team.”

Ryley added: “We continue to hold a very positive outlook on the East Midlands economy and our business model is structured to enable further controlled expansion to take advantage of the opportunities we expect to arise. We expect to make further acquisitions of other financial advisory businesses, if they are the right fit, in 2017.”