Wealth manager Mattioli Woods has snapped up Hurley Partners in a deal worth up to £25.6m ($33.1m).
The acquisition is set to finalise in Q2 2020 and the Hurley Partners management team will be retained.
Founded in 2013, Hurley is a wealth management business that provides bespoke and holistic financial advice to over 300 client family groups. it also has offices in London, Surrey, and Manchester.
Both firms have specialist pension knowledge and legacy planning expertise as well as robust discretionary investment management services.
In addition, both Hurley Partners and Mattioli Woods want to maintain a strong commitment to giving back to the wider community.
Ian Mattioli, chief executive of Mattioli Woods, said: “This acquisition of Hurley Partners is an important step for Mattioli Woods as we continue to expand our operations and reach. Culturally and strategically, Hurley Partners is a great fit, serving a similar client base to our existing business. Hurley Partners has a proven ability to win high quality new business and will enhance our existing specialist pension and discretionary management propositions. I believe this transaction will strengthen our position in a market that is continuing to consolidate.”
Tony Hurley, chairman of Hurley Partners Limited, added: “This is a highly positive development for everyone associated with Hurley Partners and especially our clients and employees. Putting clients at the heart of everything we do is central to Hurley Partners’ culture and we recognise the commitment of Mattioli Woods to this principle.
“Clients will notice no difference in our approach which has been built on personal service and clear communication alongside our knowledge and expertise. I am delighted to confirm that all of the employees of Hurley Partners will be remaining with the newly combined group and will continue to operate from our existing locations. The highest level of commitment of all directors and staff remains unaltered. We look forward to working together as part of a strong and progressive wealth management group.”