Benchmark, a provider of financial planning services and part of the Schroders Group, expands its advice business across the UK.
UK-based independent financial advisor Benchmark has acquired
Champain Financial Services in order to bolster
its coverage in the South and South-East, it said in a
statement. The financial terms of the transaction were not
disclosed.
Benchmark said the partnership would help to lay a
foundation for a smooth transition and integration over the
next 12 months.
Champain – an appointed representative of Benchmark’s advice
network – has been using Benchmark’s technology, including the
integrated practice management, platform and client
portal, since 2011.
Benchmark will add £111 million ($140 million) in client
assets with this transaction, which will expand its advice
business across the UK and support financial planning businesses
from startup to efficient operations, growth, and succession
planning.
“There are a lot of options in the market for firm
principles to look for succession planning, so we’re pleased that
Champain have chosen Benchmark as a stable and secure partner for
their staff and their clients,” Ed Dymott, managing director
wealth at Benchmark, said.
“Our top priority was to ensure that our clients continue to
receive the high level of personal care they have come to expect.
They’ve been around for over 30 years, and with 200 years of
Schroders’ history behind them it gives me confidence that
they’ll continue to look after our clients, and their
families for years to come,” Mike Champain, managing
director at Champain Financial Services, added.
Based in Horsham, West Sussex, wealth manager Benchmark has £17
billion ($21.2 billion) of assets on its proprietary platform and
£5 billion in model portfolio solutions on behalf of over 1,000
financial advisors and employs 450 staff.
Schroders is a global investment management firm with £726.1
billion of assets under management.
