Wed, 25 Jun 2025 | BUSINESS SALE
Private equity-backed financial advisory business The Wren Sterling Group has completed its third acquisition of the year so far with a deal for a major firm in Scotland. The acquisition of City Financial (Aberdeen) Limited doubles Wren Sterling’s presence in Scotland.
The deal brings in more than 6,000 clients and £700 million in assets under management (AUM), boosting Wren Sterling’s overall AUM to £11 billion. The acquisition also adds three locations and almost 40 new team members to the group.
Wren Sterling Chief Executive James Twining said: "We've been trying to build presence in the North and East of Scotland for several years to complement our existing team in Glasgow and the Central Belt, and since we first met the City Financial management team, we've been looking to bring them into Wren Sterling.”
Twining said that City Financial had "grown impressively on the back of hard work and commitment to its clients” and that adding the experience within the company to Wren Sterling was “a big boost”.
Following its latest acquisition, the group, which is backed by Lightyear Capital, has said that it has more deals in the pipeline. Discussing the company’s M&A strategy, James Twining said: "Our acquisition strategy has started to really pay dividends in the last six months as the businesses we've acquired have become fully integrated. They have got to grips with our systems and processes and found the space to grow their business again.”
He continued: "Our organic strategy has also started to turn our way, with a focus on client referrals, direct to consumer lead generation through digital marketing and targeting some specific verticals. We're optimistic of continued organic and non-organic growth in 2026."
Kevin Munro, previously managing director of City Financial and now a regional director at Wren Sterling, said that the group had been City Financial’s preferred partner as it sought to “expand and enhance our clients' experience.”
Munro said that Wren Sterling has “a very clear client proposition that we believe can add real long-term value to our clients through additional services and a strong focus on price and performance”.
He added: "The integration process has been thorough with plenty of hands-on support to get our clients and colleagues transferred to Wren Sterling with the minimum of disruption.”
M&A activity continues to accelerate in the UK's wealth management sector
Discover the key steps to successful post-deal integration
Project Silverton is a well-established education recruitment agency with a strong presence in London, offering personalised staffing solutions to a growing client base of primary and secondary schools. With a unique CRM system and a reliable managem...
A well-established accountancy practice located in the North East is available for acquisition, presenting a prime opportunity for expansion or entry into this robust market.
A well-established practice is looking for a buyer who values client relationships and exceptional service delivery. The vendor is looking for a buyer who values personal relationships with clients and is committed to maintaining the exceptional serv...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.