Award-winning discretionary investment management firm Myddleton Croft has been acquired by one of the UK's leading wealth management firms as it continues to grow in Leeds.
The company has joined forces with Charles Stanley, one of the oldest firms on the London Stock Exchange, as it seeks to build more relationships in the region.
The deal sees Myddleton Croft’s investment managers join Charles Stanley: Patrick Toes and Carolyn Black now report to Simon Martin, branch manager of Charles Stanley Leeds, and Jonathan Baker, who is now responsible for Charles Stanley’s northern hub of Leeds and Manchester.
Charles Stanley’s Leeds office has continued growth plans and is currently recruiting for additional investment managers.
“We are excited to be joining forces with Charles Stanley where we can achieve the next phase of business growth,” says Julie Jones, managing director of Myddleton Croft. “They offer the right mixture of culture, high service standards and location without compromising our investment philosophy, which is important to us.”
Formed in 2006 and based in Leeds, Myddleton Croft provides discretionary investment management services and model portfolios to individuals, trusts, pension funds, charities and their advisers.
For the year to 30 June 2018, the company had revenues of £1.1 million and managed funds worth £96.5 million.
Charles Stanley chief executive Paul Abberley added: “I am delighted to welcome the Myddleton Croft team to Charles Stanley who will further strengthen our presence in Yorkshire and the North East.
“Myddleton Croft’s business model and client base, together with its well-established name and reputation, make it an excellent fit for us.
“We are committed to providing its clients with a seamless service and continuing the first-class levels of client care that they have come to expect and that we pride ourselves in delivering. They will also be able to benefit from our broader range of services if needed.”
Earlier this year, Charles Stanley Leeds won a Yorkshire Financial Award for Investment Team of the Year in recognition of their consistent success and impressive results for clients since the office opened in 2008, combined with their in-depth knowledge of complex asset classes; they also continually champion new technology to boost returns and mitigate risk for clients.
Northern manager Jonathan Baker, who was named Director of the Year in the same awards, added that while change was afoot, clients could be reassured of the same great service.
“Our Leeds team, along with the new members from Myddleton Croft, are about to move to bigger offices to allow for our expansion and for further growth within the region,” he explains. “Although we are expanding, we are passionate about ensuring that our individual and personalised touch is not lost. We understand the importance of our role in speaking to clients and are happy to attend client meetings at your office, their home or to welcome you to our office.”