The time has now come for me to pass the baton to the hugely capable and talented Robbie Lawther, who I have had the pleasure of working alongside since October 2018.

International Adviser is entering the next stage of its development. Not only is Robbie now full editor, but the publication has found a new home with the Mark Allen Group. While IA’s parent company may have changed, its editorial commitment and output will not.

My thanks to the people I have met along the way, and the companies and readers who continue to support IA.

It has been a genuine pleasure to report on the industry for the past seven years. I’ve been fortunate to have travelled to Hong Kong, Singapore, the UAE, South Africa and across Europe during my time at IA. I’ve met people who have shared insights, stories, tales of wonder and woe, and occasionally some gossip. I have never taken that confidence or trust lightly.

As I take on my next challenge outside of the company, I leave with the full confidence that International Adviser is only going to go from strength to strength.

Best wishes, Kirsten

The deal will take assets under management to more than £7.5bn. Financial details were not disclosed.

Established in 1990, Gibbs Denley has 36 team members, including seven chartered financial planners, across three offices – in Cambridge, Bury St Edmunds and Chelmsford.

Simon Rees, managing director, Gibbs Denley, said: “Over 30 years we have built a highly successful business by providing exceptional customer service and nurturing trusted, long-term relationships with our clients.

“In becoming part of Progeny we take a quantum leap in the services we provide to our clients, with financial planning, investment management, legal and tax specialists in-house.”

Neil Moles, CEO of Progeny, added: “A trusted, highly professional and ethical firm with great people: Gibbs Denley are an illustrious business.

“Naturally, we’re very happy that they have joined Progeny, bringing with them a stellar team, superlative standards and a connection with their communities that stretches back many decades. I look forward to what we can achieve together.”

The acquisition is the latest in a string of M&A deals by Progeny, which most recently scooped up Lewis Brownlee Financial Services in November 2022.

Last year also saw it acquire Edinburgh-based financial planning firm Balmoral Asset Management and international advice firm The Fry Group.

International Adviser first reported on the acquisition in September. Also known as MMPI, it was set up in 1993 and provides financial planning, general and protection insurance, investments, pensions and mortgage advice to mass affluent and high net worth individuals.

The deal adds 54 staff, including 18 financial advisers, to Kingswood’s headcount.

Sticking with international M&A, multi-family office Stonehage Fleming also completed its acquisition of South Africa-based Rootstock Investment Management.

With effect from 1 March 2023, Rootstock’s Worldwide Flexible Fund will be rebranded as Stonehage Fleming SCI Worldwide Flexible Fund. Additionally, Rootstock’s Global Equity Fund has been merged into Stonehage Fleming’s Global Best Ideas Equity Fund, which is managed in London by Gerrit Smit.

Finally, Isle of Man-based Boston Multi Family Office confirmed that regulatory approval has been granted for London-based specialist investor Horizon Capital to join private equity firm Rockpool as a financing partner of the firm.

Horizon Capital will take a majority stake in the company, supporting the management team as they continue to grow the business both organically and via acquisitions.

It received regulatory approval to provide retail advice in the UK three years ago.

In April 2021, Vanguard Personal Financial Planning was launched, offering ‘a tailored financial plan’ at the cost of 0.79% a year. It was available to investors with £50,000 or more in their Vanguard accounts that they were ‘willing to put towards retirement’.

In January 2022, International Adviser reported that the famously low-cost investment house was planning a UK personal finance hiring spree.

However, a spokesperson said on 1 March: “We launched the service for clients of our existing platform with specialised retirement needs. However, after careful consideration, we have concluded that our clients are looking for other, more adaptable forms of financial planning from Vanguard.

“We have, therefore, taken the difficult decision to close the retirement planning service. We are committed to the development of further financial guidance and advice services, to give investors the best chance of investment success.”

The Personal Financial Planning section of the Vanguard website is no longer accessible.

A spokesperson for the wealth manager confirmed to International Adviser that financial details are not being disclosed.

Parthenon has a long track record of partnering with management teams to build franchise companies in the wealth management sector. It will work closely with Titan Wealth and its management team to support further growth in the business, including investment in technology and client service. The investment, which is subject to FCA approval, also provides access to additional capital to support future M&A.

Existing investors, Ares, Hambleden Capital and Maven Capital Partners, remain invested and committed to Titan Wealth, the firm said.

See also: Wealth consolidator inks partnership deal with IFA firm

Andrew Fearon, joint chief executive & head of M&A at Titan Wealth, described the deal as “a validation of our differentiated client to custody strategy and the partnership positions us well for continued strong organic and inorganic growth”.

Andrew Dodson, managing partner at Parthenon Capital, said: “Titan Wealth is an outstanding business to partner with for our first platform investment in the UK. The management team has demonstrated a strong track record of growth and their vertically integrated, client to custody strategy is differentiated from other players in the wealth management sector. We look forward to this becoming a long and successful partnership.”

Anthony Orazio, partner at Parthenon Capital, added: “We share management’s strategic vision for the company and are excited to partner with James, Andrew, and the entire Titan Wealth team. As longstanding investors in the US wealth market, we have been working for several years to identify a distinctive UK wealth platform to partner with. We are excited to leverage our industry expertise and resources to accelerate investments and build upon Titan Wealth’s success to date.”

See also: Wealth consolidator buys UK advice firm

Titan Wealth also has ambitions for growth outside of the UK, as in October 2022, the group’s asset management arm partnered with DFM consultancy firm Maplesden Griffin & Partners to roll out model portfolios for international market.