Ravenscroft Finalises Deal to Sell Wealth Management Business to Titan Wealth
The deal does not include Ravenscroft’s corporate finance and property management divisions.
- Ravenscroft has entered an agreement to sell its wealth management business to Titan Wealth, pending shareholder and regulatory approvals.
- Following the sale, a rebrand to Titan International is expected next year.
- The deal does not include Ravenscroft’s corporate finance and property management divisions.
- Jon Ravenscroft will stay with the remaining parts of the business and continue as a major shareholder in Titan Wealth.
- The acquisition aims to significantly expand Titan Wealth's international presence and integrate offerings into its client to custody solutions.
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Ravenscroft has officially announced the sale of its wealth management division to Titan Wealth, marking a significant expansion for Titan Wealth and a new chapter for Ravenscroft.
The agreement, which awaits the nod from shareholders and regulatory bodies, encompasses the discretionary investment management, advisory services, cash management, execution-only, and precious metals operations of Ravenscroft's business, boosting Titan Wealth's Assets Under Management (AUM) / Assets Under Administration (AUA) to a substantial £27.2 billion.
Crucially, the transaction does not include Ravenscroft's corporate finance and property management sectors, which will persist under the Ravenscroft name with founder Jon Ravenscroft at the helm.
Jon Ravenscroft will also maintain a significant stake in Titan Wealth, underlining his continued involvement in the company's future.
Jon Ravenscroft shared his thoughts on the development, stating, "Ravenscroft is unrecognisable from the company it was almost two decades ago and I am proud of everything my incredible team has achieved."
He praised the dedication of his shareholders and clients and emphasized the alignment of values between Ravenscroft and Titan Wealth, particularly in prioritising client interests and community support.
Titan Wealth's acquisition of Ravenscroft is not their first foray into expanding their portfolio and international footprint. Recently, they acquired a Dubai-based planning firm, AHR, marking a consistent stride towards enhancing their global client services.
Andrew Fearon, Titan Wealth's joint group CEO and head of M&A, expressed the acquisition's critical role in their international strategy, "The acquisition... is a significant milestone in our strategy to deliver Titan Wealth’s unique client to custody offering to clients and advisers in multiple international jurisdictions."
Ravenscroft boasts a comprehensive suite of services for its clients, ranging from investment management to trading and dealing in precious metals, employing approximately 100 staff and standing as one of the Channel Islands' largest wealth managers.
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