Square Mile Investment Consulting and Research (Square Mile) confirms that its acquisition by Titan Wealth Holdings (Titan Wealth) has received all necessary regulatory approvals from the FCA and the deal, announced in June 2023, has completed on Friday 23rd February 2024. This acquisition secures a long-term shareholder for Square Mile in Titan Wealth, whose backing will enable the firm to grow and develop its range of services, deliver enhanced customer outcomes and help to expand Square Mile’s client base.
Square Mile forms a core part of Titan Wealth’s proposition, both as a stand-alone entity and as an integrated offering for both external and internal clients. Titan Wealth will benefit from the depth of expertise within Square Mile’s 20-strong team of research analysts covering the universe of UK retail funds and investment trusts. In addition, Square Mile’s investment management team and consultancy services for financial intermediaries and institutions will significantly enhance the resources available to the broader Titan Wealth group.
The acquisition includes the £2.5bn* in assets under management held across Square Mile’s range of MPS solutions. This complements Titan Wealth’s competitive, low-cost MPS proposition, enabling the firm to offer compelling investment solutions to a broader range of clients.
Square Mile will continue to operate under its own brand and its management and wider team remain in place both supporting and being supported by Titan Wealth. While continuing in his role as Square Mile’s chief executive officer, Richard Romer-Lee joins Paul Hunt as co-CEO of Titan Asset Management which will see him focus on further developing the firm’s managed portfolio proposition and expanding its footprint within the IFA marketplace.
Richard Romer-Lee, Square Mile’s CEO, said: “The completion of Titan Wealth’s acquisition of Square Mile marks a very exciting milestone, both for our business and the wider Titan Wealth group of companies. The backing this brings means that we can forge ahead with our commitment to strengthen and broaden the services we provide to our clients and will help us achieve our long-term growth ambitions. Our highly talented team forms the backbone of the firm, and this acquisition also provides the opportunity for all our staff to advance their professional development within a larger business which importantly shares the same client-centric culture which we have always nurtured at Square Mile.
“We have been encouraged by the overwhelmingly positive response we have received from our clients since announcing this acquisition. We remain focused on delivering the high levels of service that they have come to expect, and we look forward to further building on this with the additional resources that Titan Group brings to Square Mile.”
Andrew Fearon, Joint Group CEO & Group Head of M&A at Titan Wealth said: “Titan Wealth is committed to a long-term strategy of building integrated financial advice, investment management, and platform services through the acquisition of proven businesses that are leaders in their respective fields. Since it was established ten years ago, Square Mile has become a byword for excellence in fund analysis, investment management and consultancy services to financial advisers and investment institutions. Having secured formal regulatory approval for this acquisition, we extend a very warm welcome to Square Mile and its highly regarded team of professionals to the Titan Wealth Group. We look forward to the invaluable contribution its team will doubtless bring to the wider firm, and to supporting Square Mile’s continued growth and success.”
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