Rathbones acquires stake in HNW advice network

Wealth manager Rathbone Brothers has acquired an almost 20% holding in Vision Independent Financial Planning and sister company Castle Investment Solutions for £2m, with a view to buying the remainder of the companies in 2015.

Rathbone Investment Management already has a discretionary fund management panel relationship with Vision, which is an independent specialist financial advice network focussing on high net worth private clients. Castle is an administrative services provider to Vision. The stakes in the groups have been purchased from the founders of Vision and Castle, Roger Edwards and Paul Sweaton, and their spouses (the founders). Rathbones has also entered into a series of options which would entitle it to acquire the remaining 80.1% of Vision and Castle in 2015 for a mixture of cash and Rathbones'...