Brewin Dolphin Acquires Duncan Lawrie Asset Management
Brewin Dolphin has announced that it has agreed to acquire the UK private client investment management business of Duncan Lawrie through the acquisition of Duncan Lawrie Asset Management Limited. DLAM is the investment management subsidiary of Duncan Lawrie Private Banking,
David Nicol (pictured), Chief Executive of Brewin Dolphin explained that as part of the Transaction, DLAM's investment team of 11 investment managers and 8 investment support staff are expected to join the London and Bristol offices of BD. The team, which will continue to be led by Seth Cowburn, manages funds of approximately £735m on behalf of approximately 1,000 clients.
Completion of the Transaction is expected to take place during the first half of 2017. On a pro-forma basis, the Brewin Dolphin Group's total funds under management, as at 30 September 2016 now increase to £36.1bn.
Seth Cowburn, Head of Wealth Management at DLAM, commented: "The investment management team at Duncan Lawrie Asset Management is excited to be joining Brewin Dolphin particularly given that its culture and investment style represent a natural home for DLAM. This was important in our decision making, and with the entire investment management team being welcomed by Brewin Dolphin, both continuity of service and the staff will remain unchanged. Brewin Dolphin's financial planning, research, infrastructure and investment management expertise will considerably enhance the service we can offer, and we see the sale to Brewin Dolphin as a very positive development for both the clients and the investment management team."
David Nicol, Chief Executive of Brewin Dolphin commented: "DLAM is a high quality investment management business and the acquisition is an excellent fit for us given the shared business philosophy centred on a personalised approach to client service. The transaction demonstrates the attraction of Brewin Dolphin to wealth management professionals and clients who value traditional, personalised services coupled with an innovative, forward looking approach."