Adviser support firm and Sense network owner Adviser Services Holdings Limited (ASHL), has launched a new national advice business called LYNC Wealth Management after making two wealth manager acquisitions.
ASHL has acquired Sheafmoor Money Management in Sheffield and North Financial Management in Belfast to form the base for LYNC.
The two deals, for undisclosed sums, will launch the new LYNC business with a total of over £180m in assets under advice and 450 wealth clients.
Knutsford-based ASHL says the new national advice business will sit alongside ASHL’s existing networks, Sense and Lyncombe, which support more than 400 advisers and have over £7bn in assets under advice.
ASHL’s sister discretionary fund management business Rockhold Asset Management has over £900m in AUM and expects to hit £1bn in the coming months.
Michael Couzens CEO of ASHL said: “We are delighted to announce the launch of our national advice business, LYNC Wealth Management, which complements our network and provides new options for firm owners who want an even closer relationship.
“Sometimes these arrangements are seen as the owner giving up control. Our aim is to work in partnership without losing sight of the significant close relationship and experience that the teams in the businesses we acquire have developed with their clients.”
Chris West, Sheafmoor founder, said: “For over six decades now the Sheafmoor brand name has thrived because client needs have been at the heart of everything we do, so we are delighted to be an integral part of ASHL’s new business LYNC Wealth Management, as they share the same values and can provide long-term continuity of service to our highly valued clients.
Richard Schwartz, owner North Financial Management, said: “I have worked with ASHL’s Lyncombe network for nearly four years and have found them to be a very professional operation; as such I’m delighted to be selling my business to ASHL and look forward to working for them for many years to come.
Among the key figures behind ASHL are CEO Michael Couzens, who has a 25 year career in governance and compliance; MD Andy Ferns, who led distribution networks at Zurich and Openwork and was a founding director of Caerus Network which was sold in 2017 and commercial director Stuart Creswell, who was previously head of relationship management at Sesame Bankhall and has worked at Paradigm Partners, Paradigm Financial Advisers and Caerus Network.
