Thistle Initiatives supports Wren Sterling to acquire Morfitt & Turnbull
Our client, national IFA firm, the Wren Sterling Group, has acquired Morfitt & Turnbull (Management Services) Ltd.
The Investments team at Thistle Initiatives was engaged by Wren Sterling to undertake regulatory compliance due diligence to assist it to acquire the Cheshire-based firm.
This acquisition adds almost £270m in client assets to Wren Sterling’s books.
Alongside this acquisition, Wren Sterling has now received authorisation from the FCA to complete a deal announced earlier this year, to acquire Mutual Financial Management LLP. Thistle Initiatives was previously engaged by Wren Sterling to undertake the compliance due diligence on Mutual Financial Management and its discretionary investment management firm.
Wren Sterling’s CEO, James Twining commented: “The past few weeks have been busy as we have continued to deliver on our acquisition strategy, alongside our investments in improving our brand and proposition and simplifying our business. Our goals are to build our national presence, which our new North-West hub will do now that we have received a change of control approval, as well as to acquire high-quality IFA firms to bolster those offices, which we have been able to do with Morfitt & Turnbull.”
James Dingwall, Founder, and CEO at Thistle Initiatives commented: “We would like to congratulate Wren Sterling on this most recent successful acquisition of Morfitt & Turnbull as well as the FCA approval of the Mutual Financial Management transaction. It was a pleasure to work alongside Wren Sterling throughout 2022 on these various acquisitions and we look forward to continuing to work with them in 2023”.