12 October 2016
KBL European Private Bankers (KBL epb), headquartered in Luxembourg and operating in 50 cities in Europe, announced today that its UK affiliate, Brown Shipley, has signed an agreement to acquire The Roberts Partnership, a UK-based financial planning and wealth management firm.
The acquisition of The Roberts Partnership, with 20 staff and over €500 million in assets under management, is in line with Brown Shipley’s strategy to build and deliver a leading financial advice proposition for its clients.
This is KBL epb’s fourth acquisition in the past two years, and follows the April 2016 announcement of the acquisition of Insinger de Beaufort, a leading private bank in the Netherlands that is also active in the UK. In July 2015, Brown Shipley acquired Hampton Dean, a UK-based chartered independent firm of financial planners.
Yves Stein, Group CEO, KBL epb, said: “We are very pleased to announce the signing of this agreement, which will strengthen Brown Shipley’s regional presence and its wealth planning service offering. We look forward to welcoming the clients and staff of The Roberts Partnership to our pan-European group.”
“The acquisition of The Roberts Partnership will further support our growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients,” said Ian Sackfield, CEO of Brown Shipley, whose more than 300 staff operate from six UK offices, managing over €5 billion in assets.
“The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients,” Sackfield said. “I am confident the new team will make an important contribution to Brown Shipley and our future success.”
Tony Antczak, Chairman of The Roberts Partnership, said: “We are excited to be joining Brown Shipley, a business with clear growth plans and a vision for the future. Moving forward, we will be able to offer clients an even wider range of services and enhanced career opportunities for employees.”
The terms of the acquisition – which has been approved by the relevant regulatory authorities and will close on November 1, 2016 – were not disclosed. Following closing, The Roberts Partnership will become a subsidiary of Brown Shipley and will join its Manchester office.