New South West office for wealth management firm after £250m deal
The Wren Sterling Group has expanded into the South West after completing a deal for a Cornwall firm.
The group has welcomed around 1,000 clients in the last couple of months after completing transactions for Bodmin-based The Stockdale Group, as well as Messer & Matthews, adding more than £400m of assets under management to its books.
The Stockdale Group comprises Stockdale & Co, a financial advisory firm, and Stockdale Asset Management, a DFM business that has been running for over 20 years. The group has around 700 clients and all 12 members of staff have joined the Wren Sterling Group.
In July, Wren Sterling also completed a deal to acquire Messer & Matthews, a Guildford-based IFA headed by Charles Matthews, looking after around £150m AUM for 300 clients. Wren Sterling will retain the Guildford office for the foreseeable future.
James Twining, Wren Sterling’s chief executive, said: “The South-West has always been a bit of a gap for Wren Sterling, despite this being a region with increasing wealth, fuelled by the trend to move out of London post-pandemic. The timing is perfect for us and allows us to increase our footprint in the same way we have done with the North-West and Northern Ireland in the last twelve months.
“Keith Stockdale and his team have the entrepreneurial drive we’re looking for and a very loyal client bank. It’s a great foundation to build on and Keith will be central to developing our brand in the Devon and Cornwall area, particularly as he is retaining a stake in the business.”
On Messer & Matthews, he added: “Messer & Matthews is a fantastic IFA business. Charles is a highly qualified adviser who has provided an exemplary service to clients over the years, and I’m excited to have him in Wren Sterling to drive up standards through his example.”