US private equity investor Stone Point Capital, which has invested £56bn in financial and healthcare businesses around the world, has completed its takeover of Amber River, one of the UK’s fastest growing Financial Planning firms.
Financial details of the deal, first announced in February, have not been disclosed but media reports suggest a figure of around £900m for a majority stake in Amber River.
Founding private equity investor Penta Capital will also remain on board as a key investor.
Amber River describes itself as “a new generation of Financial Planning business, with regional face-to-face Financial Planning at its core.” It has 330 Financial Planners, advisers, technical experts and investment professionals.
The firm has 13 regional wealth hubs in the UK and two dedicated Centres of Excellence for mortgage advice and investment management.
As part of the deal, funds from Stone Point will provide capital and strategic support for Amber River to help the firm accelerate its growth strategy.
Amber River wants to bring its bespoke Financial Planning process – which it calls 'Life Landscaping' – to a wider audience across the UK. The Life Landscaping service proposition embeds AI in the advice process and supports adviser in delivering face-to-face advice.
Since the announcement in February, Amber River says its Assets Under Influence have risen to £15bn (as at the end of June). It has also agreed deals with 11 local businesses to integrate into its 13 regional hubs. The deals have been a combination of retiring advisers and businesses looking for support with their growth plans.
Amber River has an adviser academy in Henley and the group has made a series of key strategic appointments, including strengthening regional management teams .
Mary-Anne McIntyre, CEO and founder at Amber River, said: “The completion of our deal with Stone Point marks an important milestone for us. We were looking for a partner who shared our long-term vision and commitment to being independent, customer-driven and purpose-led – and Stone Point has demonstrated that throughout this process. We both see significant opportunity for growth given the current tailwinds in the UK market.
“We are excited about what we can achieve together – investing in our people, raising awareness of the importance of long-term Financial Planning and further strengthening the support we give to our clients across the UK, and with Stone Point’s support, we are now well positioned to meet our growth ambitions.”
Chuck Davis, chairman and Co-CEO at Stone Point Capital, said: “We are thrilled to begin our partnership with Amber River. Mary-Anne and her team have built an exceptional business with a clear sense of purpose, a differentiated approach to Financial Planning and an unwavering commitment to delivering outstanding client outcomes.
“We look forward to supporting the continued growth of the business and its advisers while preserving the culture, independence and values that have made Amber River such a unique and successful organisation.”
Amber River Group has acquired over 60 businesses which serve 80,000 clients.
Stone Point is a leading US investment firm with more than £56bn in assets under management in private equity, credit and insurance solutions. It is based in Greenwich, Connecticut, with offices in New York and Palm Beach.