Wealth and DFM consolidator Titan Wealth has acquired consultancy firm Square Mile for an undisclosed sum.
The acquisition of London-based Square Mile will include 21 research analysts covering UK retail funds, an investment management team and its consultancy services for financial intermediaries and institutions.
Square Mile will continue to operate under its own brand following the acquisition, and its management and wider team will remain in place.
Titan Wealth will look to expand its MPS proposition and will benefit from Square Mile’s relationships across the financial advice and asset management sectors.
The acquisition will take Titan Wealth’s AuM to £12bn ($15.3bn, €14bn) and strengthen its integrated client to custody solutions.
Andrew Fearon, joint chief executive and head of M&A at Titan Wealth, said: “This latest acquisition further bolsters our aim to bring high-quality execution and administration to the asset and wealth management sector through our our client to custody solutions and services.”
Richard Romer-Lee, chief executive at Square Mile, added: “The backing of Titan Wealth will help us strengthen and broaden our clients offerings, support Square Mile’s long-term growth aspirations and open new professional avenues for our staff within the broader group.”
This comes weeks after Titan Wealth entered into a share purchase agreement to acquire Ravenscroft’s UK-based investment management business for an undisclosed sum.