Close Brothers Asset Management acquires IFA business
Close Brothers Asset Management has acquired PMN Financial Management LLP. The firm was founded in 1992 and currently manages nearly GBP300 million of assets for its high net worth client families. PMN’s partners, advisers and support team will all join CBAM as part of the agreement.
PMN’s existing clients will benefit from CBAM’s scale, including its widely recognised research capability, financial planning offering, and wider investment management services.
The acquisition is part of CBAM’s growth strategy, helping to extend the business’ regional footprint along the Surrey and Hampshire border.
Today, CBAM operates from London, Bristol, Chester, Manchester, Gatwick, Farnham, Newcastle, the Midlands, Northwich, Edinburgh and Glasgow.
Martin Andrew, Chief Executive of Close Brothers Asset Management, says: “I am delighted to welcome PMN to the CBAM family, an acquisition which further underlines the fact that we are a dynamic and growing business.
“Not only is PMN a highly successful and trusted provider, but crucially, the business has deep cultural synergies with CBAM. Our success is built on our dedication to put clients at the centre of everything we do and PMN share that commitment and focus.
“I know that the team will hit the ground running and be a real asset to the wider CBAM team.”