Titan Wealth Holdings Launches With Two Acquisitions
London, 14 June 2021
Titan Wealth Holdings launches with two acquisitions
Titan Wealth Holdings Limited (“Titan” or “the Group”) today announces two acquisitions as part of its strategy to bring a new proposition to the wealth and asset management sector and offer higher quality, more flexible and independent services to investment managers and independent financial advisers (IFAs).
Titan is delighted to welcome GPP and Tavistock Wealth Limited (“Tavistock Wealth”) to the Group.
The acquisition of GPP, a leading financial services platform with £2 billion in assets under administration and which carries out in excess of 500,000 trades per year for its clients, will provide a full suite of execution, settlement and custody services to Titan, in addition to its institutional clearing and custody business. GPP’s platform harnesses state of the art digital technology and has married the modernity of its client-facing technology with the established strength and scale of its proprietary back-office infrastructure. This acquisition will enable Titan’s existing Discretionary Fund Managers (DFMs) to scale, and allows its investors and intermediaries to have access to better quality and more cost-effective services.
Tavistock Wealth, the multi-asset manager of Tavistock Investments Plc, (“Tavistock”) is a specialist DFM with in excess of £1bn in assets under management for retail clients and a market leading investment track record and ESG capability. As part of the agreement, Titan and Tavistock will form a 10-year strategic partnership, with Tavistock acting as retail distribution partner and retaining Titan as the investment manager for its centralised investment proposition. This combination will enable Tavistock to accelerate the growth of its wealth management franchise over the long-term, both organically and by acquisition.
The acquisitions are expected to complete in Q2 2021, subject to regulatory approval, and after which Titan will have assets under management and administration of £3 billion.
Both of the businesses will operate under the Titan holding group and retain their existing model and leadership.
Titan is in discussions regarding the acquisition of six other DFM’s which will create a unique integrated offering across the whole market.
James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth Holdings said: “We are delighted to welcome GPP and Tavistock Wealth to Titan and very much look forward to working with their existing teams. The DFM sector is currently in a state of flux with considerable dislocation and outdated processes as technology and client demand evolve ever more quickly. Against this backdrop, we have the opportunity to drive reform in the sector, through leveraging new technologies and broadening distribution channels to deliver value for intermediaries and institutional clients. With the market ripe for consolidation, we have ambitions to grow rapidly and see exciting opportunities in the coming months as we target £20 – £30 billion in assets under management over the next five years.”
Julian Parker, CEO of GPP, said: “We are proud of the platform we have built, the recognition we have received and the reputation we have established as the go-to financial services provider for clients who require a seamlessly integrated range of services and value high quality service. This important partnership with Titan will accelerate our organic growth trajectory whilst ensuring that our strategy remains true to our roots and we can stay focused on providing state-of-the-art technology and wealth management services to our clients. I am looking forward to working with James, Andrew and the rest of the Titan team.”
Brian Raven Chief Executive at Tavistock added: “This is a great opportunity for both Tavistock and Titan. Whilst Tavistock Wealth is becoming part of Titan, we look forward to continuing to work closely with our highly successful investment team. The partnership endorses our corporate strategy as we seek to significantly increase the scale of our wealth management business in order to deliver maximum value to our shareholders.”
Brunswick Group: Simone Selzer/ Emily Murphy: 020 7404 5959 / [email protected]
Titan Wealth Holdings
James Kaberry / Andrew Fearon: 01423 368257/ [email protected]
Notes to editors
About Titan Wealth Holdings
Titan Wealth Holdings is a discretionary fund management / wealth and asset management business. Targeting £20-30 billion in assets under management over the next 3 to 5 years, Titan aims to bring high-quality execution and administration to the asset and wealth management sector. Titan provides execution, custody, clearing and wealth management services to small and medium sized broker dealers, proprietary traders, intermediaries, family offices and wealth managers. As a multi asset manager, Titan provides independent financial solutions to financial advisors, family offices, retail clients and institutions via a network of trusted intermediaries.
Titan is led by a highly experienced management team with deep expertise across financial services and is supported by capital partners Ares Management, Maven Capital Partners and Hambleden Capital. Its management team comprises James Kaberry, an experienced entrepreneur and founder of Pantheon Financial Management, which grew to be one of the UK’s largest financial advisory firms; Andrew Fearon, who has been active in UK wealth management and a founder of one of the biggest UK IFA consolidators, as well as raising funds for other UK IFA consolidators and Julian Parker, founding partner and CEO of GPP.
GPP was established in 2008 when its founding partners identified a gap in the market to offer clearing and custody solutions away from the traditional banking providers. The cornerstones of this service are GPP’s proprietary back office processing platform (GBO), in-house Operations and Client Service teams, and a series of relationships with tier 1 banks, to provide clients with access to global settlement and custody of assets on an intermediated, scalable basis.
GPP launched its wealth platform in 2017 as a streamlined offering combining cutting edge digital technology and the established strengths of GPP’s global execution services and proprietary back office. Operating as a single, integrated platform for the full investment lifecycle, it provides GPP’s clients with a comprehensive and nimble white-labelled solution which can be easily modified for a bespoke service.
GPP has a balance sheet of £37mm (as of April 2020) and employs 110 staff in 3 locations, including 30 in-house technology staff plus a further 45 Operations and Client Services personnel including a dedicated Wealth Services operations hub in Cheltenham.
About Tavistock Wealth Limited (“Tavistock Wealth” or “TWL”)
Tavistock Wealth manages over £1 billion of assets on behalf of retail clients, providing institutional quality portfolio management at a retail price. Tavistock Wealth is a subsidiary of Tavistock Investments Plc, the UK wide financial services group.
John Leiper is the Chief Investment Officer of Tavistock Wealth and carries direct responsibility for all investments in the Centralised Investment Proposition at the firm. Together with the research and investment team, he manages both the ACUMEN Portfolios (UCITS Funds) and the Model Portfolio Service.
© BRUNSWICK GROUP 2021