Financial Planning firm Shackleton, formerly the Skerritts Group, has launched a personal injury and Court of Protection division following its acquisition from the Irwin Mitchell Group of £1.4bn AUM IM Asset Management.

The deal, for an undisclosed sum, marks continued expansion for Shackleton under new CEO Paul Feeney.

Shackleton acquired IM Asset Management, including TWP Wealth, a separate Financial Planning company in 2022.

Earlier this year Shackleton acquired Richmond-based PK Financial Planning, a Chartered financial advice and wealth management firm. The acquisition also includes PK Employee Benefits and discretionary fund management arm PK Wealth and was the 17th acquisition for Shackleton since 2021.

The latest deal to acquired personal injury lawyer Irwin Mitchell’s asset management business adds £1.4bn in assets under management to Shackleton.

Shackleton says the focus of its new division will be to “help clients who have suffered life-changing injuries plan for their future by offering tailored Financial Planning and investment advice.”

IMAM and TWP have 20 advisers and provide Financial Planning and investment management to about 1,600 clients. The majority of the firm’s £1.4bn AUM is managed by IMAM internally.

IMAM is based in Sheffield, with advisers also in Leeds, Newcastle, Manchester, Birmingham and London. TWP is a HNW Independent Financial planning firm based in Alderley Edge, near Manchester. TWP will continue to focus on its core market under the Shackleton brand, Shackleton says

The new division will be led by CEO Stewart Sanderson and the IMAM/TWP team of 88 will join Shackleton after completion. Mr Sanderson will also join the Shackleton Executive Committee. The transaction is subject to regulatory approval by the FCA.

Shackleton is a Chartered financial adviser and wealth manager headquartered in London. It has been in business since 2021.

Paul Feeney, CEO of Shackleton, 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."

Stewart Sanderson, CEO of IMAM, 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."

Craig Marshall, Group CEO of Irwin Mitchell, said: “This deal aligns with our strategy to simplify our structure and allows us to invest further to grow our core offer as a full-service law firm."

Shackleton manages £7.2bn of assets under advice and management and has a team of more 400, including more than 100 advisers. It has offices in 23 cities nationwide. In March 2021, Sovereign Capital Partners, a UK private equity firm, invested £55 million in Skerritts, one of Shackleton’s founding firms. 

IMAM was formed in 2004 to operate the Financial Planning and investment management business of the Irwin Mitchell Group.