Private equity-backed Amber River Group has bought Leeds-based Leodis Wealth Limited for an undisclosed sum, International Adviser can exclusively reveal.
Based in Leeds, Leodis was founded in 1988 as the asset management arm of the Leeds law firm Lupton Fawcett. Now independent, it is led by chief executive Simon Cocking, who joined the firm’s board in 2013.
Leodis specialises in portfolio management, tax planning and financial planning for individuals.
Mary-Anne McIntyre, chief executive of Amber River, told IA: “Simon and his team at Leodis are a great addition to the Amber River family.
“The approach they take in forming trusted, long-term relationships and providing a high standard of bespoke financial planning that enriches the lives of their clients makes them an ideal partner. We are delighted they’ve joined us and look forward to supporting them in their exciting growth plans.”
Amber River (formerly Socium Group) has £7.7bn ($8.93bn, €8.9bn) in assets under influence and there are 11 independent financial advice businesses and one corporate mortgage broker within the group, which is backed by private equity firm Penta Capital.