Apollo acquires fellow SJP firm Debra Wait WM
St James’s Place partner firm Apollo Private Wealth has acquired fell SJP firm Cambridgeshire-based Debra Wait Wealth Management.
The deal takes London-based Apollo's assets under management to £300m.
Apollo is one of the largest SJP partner firms and has acquired Debra Wait under the partnership’s succession planning programme.
Ms Wait will remain with Apollo for a minimum of 18 months under the deal to help ensure a smooth transition for clients.
She said when considering her exit options she wanted to find a proactive firm that had the infrastructure to provide continuity and add value for her clients.
Nauman Gondal, founder and CEO of Apollo, said: “Debra Wait is an outstanding SJP partner who shares our commitment to the highest standards in client care and service, and she will continue to be a key part of the combined business.
“Over the past year, we have worked extremely closely, getting to know her business and helping execute a succession strategy that ensures the business is future-proofed if she were to look towards retirement, and ensuring her exceptional client relationships are maintained.
“This acquisition is a key part of Apollo’s growth strategy to broaden our national footprint, bringing integrated financial advice and services to more clients across the UK. We’ve enjoyed great success across London and the South-East, and we’re excited by the opportunities this acquisition affords us to continue building the brand nationally.”
Apollo said it continues to look for more acquisitions among other high net worth-focused SJP firms.
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