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RNS Number : 1468E

Ashcourt Rowan PLC

07 April 2014

7 April 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO US PERSONS, OR INTO THE UNITED STATES, OR INTO OR FROM CANADA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

ASHCOURT ROWAN PLC

("Ashcourt Rowan" or the "Company")

Ashcourt Rowan aims to grow share of financial planning and corporate market following completion of UKWM acquisition

07 April 2014: Ashcourt Rowan has completed its acquisition of UK Wealth Management Limited (UKWM) having obtained Financial Conduct Authority (FCA) approval. This increases its nationwide footprint to 17 offices and its assets to over GBP5 billion, of which GBP2.2 billion is discretionary and managed. The enlarged financial services group will offer a range of services to individuals, families, business owners and employers including financial planning, discretionary fund management and employee benefits and corporate financial planning.

Commenting, Jonathan Polin, group chief executive officer, Ashcourt Rowan, said: "This acquisition gives us scale across our areas of operations, particularly in financial planning and pensions at a time when the spotlight is firmly on the choices individuals have to make and reinforced by the latest budget announcement. The opportunity exists to significantly increase our market share in the personal and workplace pension markets."

"We are particularly pleased to welcome Gareth Sawyer to the group who will help us drive the opportunities as head of Ashcourt Rowan Corporate Solutions, working side-by-side with Gaius Jones and Harry Burnham as heads of our financial planning and asset management businesses."

"This is our second acquisition in 12 months and together with the operational changes we have made to our business, we are well-positioned to take further advantage of the growth and consolidation opportunities that are in the sector."

ENDS

Ashcourt Rowan plc provides a range of expert, integrated wealth management and employee benefits consultancy services for individuals, families, charities and trusts, business owners and employers.

Our financial planners, investment managers and consultants deliver services to clients on a face-to-face basis nationally, supported by dedicated technical departments in London and Leeds.

Headquartered in the City of London, Ashcourt Rowan has offices in Bath, Bournemouth, Brighton, Cambridge, Chelmsford, Exeter, Leeds, Macclesfield, Maidstone, Manchester, Pontefract, Rugby, Salisbury, St Andrews, Winchester and York.

For further information please contact:

 
 Rishi Zaveri     Cantor Fitzgerald Europe (financial adviser and joint broker)    +44 (0) 20 7894 7667 
 Guy Wiehahn 
  Harry Florry    Peel Hunt LLP (Nominated adviser and joint broker)               +44 (0) 20 7418 8900

Media enquiries:

 
 
   Emily Morris              Ashcourt Rowan plc    +44 (0) 20 7871 7250 
 Marina Burton/Daniel Yea    Maitland              +44 (0) 20 7379 5151

Notes:

Unless the context otherwise requires, defined terms used in this announcement shall have the meanings ascribed to them in the Company's announcement dated 13 December 2013.

This announcement is for information purposes only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice in any jurisdiction.

Neither the contents of the Company's website nor the contents of any website accessible from the hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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