STOCKBROKER Charles Stanley took over Birmingham-based wealth manager Jobson James Financial Services in a deal worth a maximum £2.25m yesterday.
The acquisition will grow Charles Stanley’s presence in the Midlands and boost its capability in wealth management services, it said.
Founded in 1993, Jobson James is led by managing director Richard Venner and offers financial advisory services including pensions, financial and tax planning, corporate investment advice and retirement advice. It employs 26 people.
Payment of the maximum deal cost will be dependent on Jobson James meeting set revenue targets over the next two years.
Charles Stanley chairman Sir David Howard described the deal as a “high-quality acquisition” that “complements the expanding activities of Charles Stanley”.
Venner, who joined Jobson James in 1997 and will remain on its board, said: “Joining Charles Stanley is a natural fit for the company.”