Swiss private banking group Helvetia Wealth has acquired UK financial advisory firms City Gate Money Managers and TAM Asset Management for an undisclosed sum.
Swiss private banking group Helvetia Wealth has acquired UK financial advisory firms City Gate Money Managers and TAM Asset Management for an undisclosed sum.
The deals add 25 finance professionals to the Helvetia Wealth team, and increases the company’s assets under management to CHF 1 billion (£600 million).
Stewart Domke, director of City Gate Money Managers, said that the UK market of independent financial advisers is undercapitalised and the acquisition by Helvetia would give the firm access to a well-capitalised group.
Law firm Mills & Reeve advised Helvetia Wealth on both transactions and Birmingham-based Shakespeare Putsman provided legal counsel to City Gate Money Managers.
