Punter Southall buys Blacktower

Punter Southall Group has acquired the employee benefit and private client financial planning business of Surrey-based Blacktower Financial Advisers, increasing its private client numbers by 20 per cent to almost 5,000.

The move comes after PSG took a minority stake in the Argentis Financial Group in March to form a strategic partnership and aid its commercial expansion. The group also merged and floated its institutional investment arm, P-Solve, in June to form River and Mercantile Group plc.

Blacktower’s New Malden-based staff will move to Punter Southall Group’s office in Guildford.

Punter Southall Financial Management managing director John Hamilton-Hunt says: “Both companies share the same professional, personal approach which seeks to foster long-term client relationships and positive outcomes. Add to this the fresh thinking and innovation from our investment teams across the group and we can better serve the objectives and expectations of our clients.”

Blacktower managing director Chris Bruce says: “This is an exciting development for us. Our client relationships will continue to strengthen because they will be able to access a broader and deeper range of personal and corporate planning services as part of a like-minded but larger organisation.”