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Portfolio management and financial planning now offered
10.10.2012

Portfolio management and financial planning now offered

James Hambro & Partners LLP, the independent private asset management partnership, which manages funds on behalf of private clients and charities, today announces that it is to merge with Calkin Pattinson & Company Ltd, a leading financial planner for high net worth clients. The group, which will trade under the James Hambro & Partners brand, will have in excess of £1 billion of assets under management, advice and administration.

Founded in 2009, James Hambro & Partners LLP manages discretionary investment portfolios for 102 families, charities and trusts – with around £480 million assets under management and administration. Established in 1964, Calkin Pattinson advises 2,000 private clients and charities on financial planning issues, and in addition has around £600 million assets under management.

Both firms are currently growing strongly and the two businesses are highly complementary, being based in St James’s and operating in the same sectors of the market. The merged group will combine financial planning and discretionary portfolio management to offer a comprehensive service to its clients. This combined service is ideally positioned to attract new clients, particularly those dissatisfied with the service offered by the large banks. As a result of the merger James Hambro & Partners is well positioned to take advantage of the ‘post-RDR world’ and the new regulatory regime being introduced by 1 January 2013.

James Hambro, Chairman, James Hambro & Partners, commented: “We are delighted to be merging with Calkin Pattinson. In an increasingly complex financial environment, the ability to offer a broader range of services to clients will be important. The two businesses are like minded and the combination will give us a firm platform for further growth. “

Charles Calkin, Chairman and Chief Executive, Calkin Pattinson, added: “James Hambro & Partners offers an excellent investment capability coupled with a strong performance record. Further, it has an exceptionally experienced team and investment-led culture. We believe that this experience, performance and shared ethos of two growing companies will offer a highly attractive financial planning and investment proposition.”

On completion of the deal Charles and Paul Calkin will become partners in James Hambro & Partners.

Andy Steel, who will lead the combined James Hambro Group as Chief Executive said: “We have attracted a considerable amount of business from major banks in the last year and we expect this to accelerate with a broader service offering in place. In a post-RDR world the combination of independent financial advice with a tailored portfolio management capability should further increase our ability to attract business”.