Partners Wealth Management has bought Johnston Carmichael Wealth, adding £855mn in assets.
Following the deal, PWM, part of the 7IM group, now looks after combined assets totalling around £6bn on behalf of circa 5,500 clients.
Johnston Carmichael Wealth will retain its existing team, led by managing director Craig Hendry, and for the time being will continue to manage its brand.
PWM managing partner, Fiona Oliver, said: “We are delighted to welcome Johnston Carmichael Wealth to the PWM family.
“Their strong reputation, deep client relationships, and commitment to excellence makes them a perfect fit for our long-term growth strategy.
“This acquisition allows us to expand our footprint in Scotland while continuing to deliver the high-quality, client-centric service that defines PWM.”
Johnston Carmichael Wealth is the wealth management arm of Scotland’s largest independent accountancy and advisory firm, Johnston Carmichael LLP.
It will continue to work closely with Johnston Carmichael LLP, ensuring continuity for clients while also offering access to an enhanced range of expertise and services.
Johnston Carmichael Wealth managing director, Craig Hendry, said: “Joining PWM, and the wider 7IM group, provides an exciting opportunity for our firm to grow while maintaining the values and service our clients expect.
“With access to PWM’s extensive resources, investment solutions, and technology, we are well-positioned to enhance our offering and continue delivering exceptional financial planning advice.”
tom.dunstan@ft.com
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