Harwood to potentially takeover another IFA

Fund manager approaches Salford-based adviser

clock • 1 min read

Fund manager Harwood Capital has approached IFA Frenkel Topping with a potential takeover.

Salford-based Frenkel Topping said in a market announcement this morning it had "received a preliminary approach from Harwood Capital" to buy its entire share capital. The firm added: "At this stage, there can be no certainty that any offer will be made nor as to the terms of any such offer." London's Harwood Capital is investor in Harwood Wealth Management, which has become a well-known consolidator since it launched 15 years ago.  Frenkel Topping, which had £851m assets under management in July 2019, specialises in asset protection for vulnerable clients. Harwood Wealth Manage...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PFS writes to members to seek reasons behind AGM rebel vote down

PFS writes to members to seek reasons behind AGM rebel vote down

Board intends to consider feedback ahead of 4 December meeting

Isabel Baxter
clock 18 November 2024 • 2 min read
Analysis: Advice M&A continues apace as FCA review looms

Analysis: Advice M&A continues apace as FCA review looms

Firms taking very different approaches to buying and selling

Isabel Baxter
clock 18 November 2024 • 7 min read
Mansion House speech was 'an effort to shake up the sector'

Mansion House speech was 'an effort to shake up the sector'

The start of a ‘long line of positive developments’

Isabel Baxter
clock 18 November 2024 • 2 min read