Wealth management firm Courtiers sets sights on three acquisitions as it aims to take assets under management total to more than £1bn

 
William Turvill
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(FILES) A picture taken 17 April 2007 in...
Courtiers plans to bring its total assets under management to around £800m (Source: Getty)

Wealth management firm Courtiers has set its sights on three acquisitions to take its total assets under management to £800m.

It has agreed a deal for JRH Asset Management, which has around £62m in funds under management.

And two more deals, both of which are subject to non-disclosure agreements, are also in the pipeline.

Read more: Wealth management M&A has hit a new high

The first deal, to acquire a firm with around £20m under management, is set to be signed off in September. And the second, expected to be finalised in January next year, relates to a company with around £90m under management.

The deals have been announced at a time when wealth management mergers and acquisitions (M&A) activity is thought to be booming.

Scorpio Partnership's annual M&A assessment tracked 124 deals in 2015 – the highest figure recorded in the eight years the report has run. The figure is up from 83 in 2014 and 100 in 2013.

Read more: Wealth manager Tilney thinks it best to invest £600m to buy Towry

Last week, Tilney Bestinvest agreed a deal to acquire fellow UK wealth management firm Towry.

Jamie Shepperd, chief executive of Courtiers, told City A.M. it is a "very busy period of time" in the sector.

In the coming years, his firm is aiming to build up its assets under management to £1bn and beyond.

He said: "I think you will now start to see firms that are actually going to be the future of the wealth management industry start to take shape."

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