Founded in Cambridge in 1974, NW Brown is a successful wealth manager working predominantly with private clients to offer financial planning and investment management services. The business also provides a range of services to corporates, including employee pensions and other employee benefits. NW Brown has £1bn of discretionary funds under management and has 74 employees.
This development is part of Brown Shipley's growth strategy to add further scale and unlock additional regional opportunities. The addition of NW Brown’s operations will increase Brown Shipley's total AUM to almost £9bn.
The merger is expected to complete by the end of Q3 2019 subject to regulatory approval. Following completion the Cambridge and Norwich offices will be fully integrated into Brown Shipley in 2020, serving as the East Anglia hub for the business and adding to the six existing Brown Shipley offices.
James Allen, Corporate Partner at Birketts led the transaction with support from Karl Pocock (corporate tax). Richard Proctor Tax Partner, John Weston and Chris Richardson of MHA Larking Gowen advised NW Brown on the private client and shareholder tax aspects.
Oliver Phillips, CEO of NW Brown, who will continue to lead the business, said: "The Birketts team impressed us throughout: a good job efficiently executed. They understood our requirements and ensured the merger completed with minimal fuss."
James Allen concluded: "There are clear parallels between the two firms both in terms of services and culture and this merger provides significant opportunities for growth."