7IM adds to wealth management proposition with acquisition of CPN Group

7IM has completed the acquisition of financial planning and discretionary investment firm CPN Group for an undisclosed sum.

Chichester-based CPN has more than 2,800 clients supported by a team of financial planners who oversee in excess of £750m in assets under advice.

CPN also manages two OEIC funds with approximately £400m of assets under management.

The CPN Financial Services Limited team will join Amicus Wealth Management, which recently relaunched following the merger of 7IM’s former Private Client business and Amicus Wealth.

The acquisition of CPN will bring the three former advice businesses together under one unified brand.

Meanwhile, the CPN Investment Management business will merge with 7IM’s Investment Solutions arm, and will manage the two CPN funds.

Following the acquisition, the enlarged Amicus Wealth Management business will advise more than 6,800 clients with £3.3bn of assets under management, while 7IM Investment Solutions will manage around £11bn of client assets.

7IM said the deal marked another step forward in its growth ambitions to build a leading wealth management firm in the UK.

“The CPN business and team are an excellent fit for 7IM,” said 7IM CEO, Dean Proctor.

“Their culture, dedication to quality advice and focus on client outcomes align strongly with our strategic vision as we evolve into a more advice-led organisation.

“Bringing CPN into the group strengthens Amicus and expands the capabilities we can offer to clients across the region.

“While organic growth remains at the core of our long-term plan, we will continue to complement it with targeted acquisitions that enhance our capabilities, broaden our reach and deliver meaningful value for clients.

“We look forward to working closely with the CPN team as we enter this exciting next phase of growth together.”

CPN Group CEO, Charlie Nicholls, added: “We are delighted to be entering into this transaction with 7IM.

“7IM’s culture, long-term vision and commitment to delivering strong client outcomes make them a natural partner for our business.

“This sale marks an important step for CPN, providing greater scale, enhanced capability and long-term stability for our clients and our team.

“We look forward to working closely with 7IM as we build on our shared values and continue delivering high-quality advice and investment management.”

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