Patrick Kennedy, CEO of PK Group
Financial Planning firm Shackleton, formerly the Skerritts Group, has acquired Richmond-based PK Financial Planning.
The deal adds around £200m in assets to Shackleton, a Chartered financial advice and wealth management firm.
The acquisition also includes PK Employee Benefits and discretionary fund management arm PK Wealth. It is the 17th acquisition for Shackleton since 2021.
PK Financial Planning was founded by Patrick Kennedy in 2003 and specialises in working with corporate leaders and high net worth individuals. It has offices in Richmond and Sittingbourne and the full team has transferred to Shackleton.
Patrick Kennedy, CEO of PK Group, said the firm had been looking to become part of a larger group to grow the business.
The deal is the second for Shackleton this year after it acquired Norfolk-based Harrold Financial Planning in February.
Paul Feeney, CEO of Shackleton, said: "This acquisition not only strengthens our presence in the South East but also enhances our ability to deliver market-leading Financial Planning and wealth management services.
"As we continue to grow, our goal remains clear - to become Britain's financial adviser, providing expert financial advice nationwide at a price people can afford."
Skerrits rebranded as Shackleton in December when it acquired four financial advice businesses, taking its number of acquisitions to 15 since Sovereign Capital Partners invested £55m in the business in March 2021. Other acquisitions in recent years include Ellis Bates and Black Swan.
