Shackleton creates Personal Injury and Court of Protection division
The move follows Shackleton's acquisition of IM Asset Management (IMAM), including TWP Wealth, from the Irwin Mitchell Group. The deal is subject to approval by the Financial Conduct Authority (FCA).
The new division will provide specialised financial planning and investment advice to individuals who have suffered significant injuries, the company said.
Shackleton CEO Paul Feeney said: 'We are delighted to welcome the highly experienced IMAM and TWP teams to the Shackleton Group.
'Indeed, we are excited to be creating a new division which brings additional skill sets to our bench of financial planning and wealth management capabilities, and strengthens our presence in Yorkshire and the North West of England.'
The newly formed division will leverage the expertise of 20 advisers from IMAM and TWP, who collectively manage and advise funds totalling around £1.4bn ($1.9bn).
The majority of these funds are managed internally by IMAM, which has a presence in several UK cities including Sheffield, Leeds, Newcastle, Manchester, Birmingham, and London.
TWP, a high-net-worth (HNW) independent financial planning firm, is situated in Alderley Edge, Manchester, and will continue serving its primary market under the Shackleton brand post-acquisition.
Upon completion of the acquisition, the IMAM/TWP team, consisting of 88 staff members, will integrate into Shackleton.
IMAM/TWP CEO Stewart Sanderson will lead the new division and will become part of the Shackleton executive committee.
Sanderson said: 'We are pleased to be joining a company that has an overarching ambition to grow its team, product offering, geographical footprint and subsequently its client base.
'The work we do for our clients who have suffered such challenging circumstances is truly purposeful and we are excited to be creating a new division at Shackleton to support more clients who need this specialist advice.'
Shackleton, headquartered in London, manages approximately £7.2bn in assets under advice and management.
The firm's team includes around 400 professionals, of which about 100 are advisers.
Shackleton now has a national footprint spanning 23 cities, including the IMAM offices in Sheffield and Leeds and the TWP office in Alderley Edge.
"Shackleton creates Personal Injury and Court of Protection division" was originally created and published by Private Banker International, a GlobalData owned brand.
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