James Hambro, the independent private asset management partnership, which manages funds on behalf of private clients and charities, has merged with Calkin Pattinson, a leading financial planner for high net worth clients. The group will trade under the James Hambro brand.
Founded in 2009, James Hambro manages discretionary investment portfolios for 102 families, charities and trusts – with around £400 million assets under management and administration. Calkin Pattinson advises 2,000 private clients and charities on financial planning issues, and manages around £600 million assets. The merged group will combine financial planning and discretionary portfolio management and is ideally positioned to attract new clients.
James Hambro, Chairman, James Hambro & Partners, commented: “In an increasingly complex financial environment, the ability to offer a broader range of services to clients will be important.“
Charles Calkin, Chairman and Chief Executive, Calkin Pattinson, added: “James Hambro & Partners offers an excellent investment capability coupled with a strong performance record.”
On completion of the deal Charles and Paul Calkin will become partners in James Hambro.
Andy Steel, who will lead the combined James Hambro Group as Chief Executive said: “We’ve attracted a considerable amount of business from major banks in the last year or so and we expect this to accelerate with a broader service offering in place. In a post-RDR world the combination of independent financial advice with a highly tailored portfolio management capability should further increase our ability to attract business”.
The Pinsent Masons deal team was lead by Corporate Partner Andrew Kerr, assisted primarily by Adrienne Murdoch and James Foster (corporate), and John Christian and Richard Fullilove (tax).
Commenting on the deal Andrew said: "We are delighted to have assisted Calkin Pattinson with this strategic merger. The combined firm is now well positioned to take advantage of the post-RDR world."
Benoit Guerin at Hines & Associates provided corporate finance advice.