Financial advisory firm expands with Arundel deal

A financial advisory and wealth management firm has expanded with a takeover.

Shackleton has bought Arundel Wealth Management.

The national operator says the move for the Surrey-based financial advice firm bolsters its South East presence and its place in the professional sports sector.

The deal has added more than £200 million in assets under advice and management to Shackleton.

The acquisition – approved by the Financial Conduct Authority – comes after Shackleton agreed to buy Hurst Point Group in a move bosses say will create “one of Britain’s largest independent financial planning firms, with combined assets under advice/management of £17.5 billion”.

Paul Feeney, chief executive of London-headquartered Shackleton, said: “Arundel enhances our footprint in the South East and aligns perfectly with our ambition to become the most trusted provider of financial advice in the country.”

Jon Alexander, Arundel Wealth Management founder, added: “Becoming part of Shackleton will allow us to invest in and grow our business, while ensuring clients are able to benefit from its valuable resources and its excellent in-house investment team.”

Shackleton expanded last year with a move for the Chetwood Group.

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