HomeFinancial PlanningCraven Street absorbs Punter Southall Financial Planning arm

Craven Street absorbs Punter Southall Financial Planning arm

Chartered Financial Planner Craven Street Wealth has completed its acquisition of Punter Southall Aspire’s Financial Planning division which was announced in January.

The deal increases AUM for Craven Street by over £600m to £1.85bn.

The two firms are underpinned by a longstanding relationship between Craven Street Group and pensions and advice firm Punter Southall Group.

As part of the deal Punter Southall will increase its minority stake in Craven Street Wealth. Punter Southall was a founding investor in Craven Street and says it will continue to back the firm’s growth strategy.

London and South-focused Craven Street says the acqusition creates, “one of the largest independent Chartered Financial Planning businesses” in the South with 91 employees including 27 Financial Planners.

Craven Street says that with a growing number of its Financial Planners qualified to provide specialist advice in specific areas it is “enthusiastic” about the opportunities ahead.

Clients will temporarily receive services from Craven Street Aspire, a trading name of Craven Street Financial Planning. In the coming months, systems and operational capabilities will transfer to Craven Street Wealth, the firm said.

Clients will continue to receive advice and services from their existing Financial Planner and support team. Craven Street Wealth offices now cover London, Bedfordshire, Dorset, Kent, Oxfordshire and Sussex.

The move will expand Craven Street’s footprint in the South of England and will add offices in Oxford, Bedford and Poole to existing offices in London, Canterbury and Horsham.

Craven Street Aspire will be fully integrated in due course with Craven Street Wealth giving clients a wider range of specialisms, expanded investment proposition, services, platform technologies and systems.

Craven Street Wealth was established through the 2021 acquisition of Kreston Reeves Financial Planning and Christchurch Investment Management. It has grown since launch organically and through acquisitions, including the acquisition of Tarvos Wealth in 2022 and Bernard Barrett Associates in 2023.

Craven Street Wealth is a subsidiary of Craven Street Group, which also includes the corporate finance business Craven Street Capital.

Tom Barnett, managing director of Craven Street Wealth, said: “We are delighted to be welcoming a like-minded Chartered Financial Planning business into Craven Street Wealth, a practice recognised by clients and peers alike. This announcement is a further, concrete step towards meeting the growing demand for what we offer.”



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments