Shackleton Advisers has acquired Parallel Financial, a financial advice business based in Putney, London, adding to its footprint in the capital.
The deal increases Shackleton’s capacity in financial planning for clients working in the creative, media, art, film, TV and technology fields.
Shackleton CEO Paul Feeney commented: “I’m absolutely delighted that we have been able to attract founder Malcolm Lyons and the whole talented team at Parallel to Shackleton.
“Our country has long been recognised as a global leader in the creative industries; as Britain’s financial adviser, this acquisition positions us exceptionally well to serve the specific needs of clients in fields such as the media and performing arts, which bring such joy to so many of us. It is an honour and a privilege to be able to do so.”
Parallel has already received approval from the Financial Conduct Authority.
Its addition brings about £360m ($484.1m) in assets under advice or management to Shackleton, along with 12 employees, including four advisers.
Parallel founder and managing director Malcolm Lyons added: “Paul has impressed me hugely right from our initial engagements, and I’m thrilled to have found in Shackleton a firm that truly shares and understands the values that are so fundamental to everything we have built.”
In April, Shackleton Advisers agreed to acquire Hurst Point Group in what it described as the largest takeover in its history.
Combined, the businesses would have more than 44,000 clients nationwide, with 233 FCA authorised and regulated financial advisers and investment managers, 38 offices and a workforce of more than 850.
“Shackleton buys London advisory firm Parallel Financial ” was originally created and published by Private Banker International, a GlobalData owned brand.
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