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Collins Stewart purchases private HNW manager ACL

International Adviser
By International Adviser  20-Jul-2010

Collins Stewart Wealth Management (CSWM) has bought London-based private client wealth management and advisory firm Andersen Charnley (ACL).

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The deal takes the total AUM of CSWM to £6.8bn and goes some way to achieving the firm's stated goal of achieving AUM of £10bn by 2012.

ACL focuses on the upper end of the HNW market, with its client base incorporating professional advisers and senior corporate executives. Its ‘high-touch’ service proposition is based on a holistic approach to wealth management incorporating both discretionary portfolio management and financial planning.

The purchase is the second Collins Stewart has made this year following its deal to buy Corazon Capital Group for up to £6m. Neil Darke, head of CSWM, said: “While ACL will provide critical mass and resource to our London business, with the addition of significant discretionary assets under management and a one-off addition of a financial planning capability, Collins Stewart provides ACL with an enhancement to its back office, investment and corporate functional capabilities.”

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