Wren Sterling has purchased Sidcup-based Howe Maxted Financial Services for an undisclosed sum.
Based in Kent, the Howe Maxted Group comprises Howe Maxted Financial Services and Howe Maxted General Insurance.
The insurance arm of the business has been bought separately by JM Glendinning, according to Wren Sterling.
Howe Maxted Financial Services advises 500 families with £200mn of assets who will be welcomed into Wren Sterling.
James Twining, chief executive of Wren Sterling, said: “I’m delighted to welcome Howe Maxted Financial Services with their distinguished heritage and enduring client relationships.
“The team comprises very impressive professionals with the right blend of experience and enthusiasm for delivering for their clients. They have built a strong business through loyal client relationships and an excellent referral culture with the general insurance business that was part of the same group.
“Kent is a location we have targeted for some time because of its wealth and proximity to London, which will allow our teams to work closely together and help grow our business organically. The proposition that we have built for Wren Sterling clients will also be a great fit for Howe Maxted’s clients, including Magnus, our discretionary fund management business.”
Ten members of staff will join Wren Sterling, including four advisers, with the Kent office joining its network spanning 12 locations.
According to Wren Sterling, all clients should have received a letter informing them of the deal, including contact details for their financial planner.
John Austin and David Baker, directors of Howe Maxted Group, added: “With origins dating back over a century we are proud to have provided quality solutions to thousands of clients over many generations.
“Wren Sterling offers an enhanced range of financial planning services, shared values, and greater opportunities to benefit our clients for many years to come. Our focus remains on delivering personalised, high value planning services to clients within the security and framework of a national organisation.’’
alina.khan@ft.com
