Titan Wealth Holdings has announced it has acquired investment research and consultancy firm Square Mile.
This move is subject to regulatory approval.
Square Mile and its 21-strong team will all remain in their positions.
It has £2.6bn in assets under management (AUM) within its model portfolio services (MPS) division. The acquisition takes Titan Wealth’s AUM to £12bn.
Titan Wealth said it will benefit from Square Mile’s broad industry relationships across the financial advice and asset management sectors.
Square Mile will continue to operate under its own brand and its management and wider team will all remain following the acquisition.
It chief executive Richard Romer-Lee said: “This acquisition represents a very exciting opportunity for our clients, the business and our team. The backing of Titan Wealth will help us strengthen and broaden our clients offerings, supports Square Mile’s long-term growth aspirations and opens new professional avenues for our staff within the broader group.
“Moreover, Titan Wealth and Square Mile have a close cultural fit with a client-centric approach and a focus on delivering superior customer outcomes and we are confident that this development will bring significant benefits to all.”
Titan Wealth joint CEO and head of M&A Andrew Fearon added: “Square Mile is a highly reputable business whose products and services integrate and align seamlessly with Titan’s. This latest acquisition further bolsters our aim to bring high-quality execution and administration to the asset and wealth management sector through our our client to custody solutions and services.”
In May 2023, Titan Wealth entered into a share purchase agreement to buy Ravenscroft’s UK-based investment management business, subject to shareholder and regulatory approval.
The acquisition reinforced the group’s current capabilities and strengthens its client to custody solutions and services.
Guernsey-based Ravenscroft has two offices (the second is in Peterborough) in the UK with combined AUM of £600m.
It provides discretionary, advisory and execution-only services to nearly 2,300 clients.
