European Wealth hits acquisition trail as assets climb

AIM-listed wealth management group European Wealth reported a rise in assets of nearly a quarter in the first six months of the year.

Assets climbed from £660m to £820m in the six months to 30 June as the group completed the acquisition of Surrey-based IFA firm Compass - its fifth such deal in four years.  Executive chairman John Morton said: “The last six months have been a period of continued expansion. "The completion of the AIM admission in May was a major milestone for the group. This brought immediate benefits, with the Compass acquisition and associated fund raising following less than two months later. "Such a transaction would have been far harder to execute under our previous ownership structure and und...