Integrated financial services group Walker Crips has acquired Barker Poland Asset Management (BPAM) in a move that has now been approved by the Financial Conduct Authority.
Barker Poland provides investment and wealth management services to private clients. It currently has about £229 million in assets under management and will bring Walker Crips’s assets under management by 12.6 percent to £2 billion.
The acquisition is part of Walker Crips’s drive to expand its core offerings of investment and wealth management services, and a move towards its medium-term target to achieve £5 billion of combine assets under management and administration. It brings the combined figure up to £3.5 billion.
Walker Crips will take on a team of five advisors from Barker Poland, led by current managing director Geoff Wright. Founder of BPAM, Pat Barker, will continue to act as chairman.
Barker said: “This is an exciting development for our business and particularly for our clients as we become part of Walker Crips, where our services will expand their existing offering.”
“Walker Crips's long-term heritage and financial stability will allow us to continue to do what we do best, namely managing clients money on a discretionary basis and providing our usual high levels of advice and service to clients.”
Rodney FitzGerald, CEO of Walker Crips Group, added: “This is an important step in our continuing quest for growth, taking our assets under management and administration to £3.5 billion from £1.4 billion just three years ago, as well as increasing the capacity of our London stronghold alongside our ongoing regional expansion.”
“BPAM's business is a complementary bolt-on to our existing offering which, with the combination of our similar investment styles and culture, will facilitate a seamless enhancement for BPAM's clients.”
