ASHL sells off LYNC Wealth Management
National financial adviser firm Adviser Services Holdings Ltd (ASHL) has struck a deal sell its LYNC Wealth Management arm to an affiliate of platform and wealth manager 7IM group.
It’s the second sell off in seven days for ASHL which last week sold its MPS provider Rockhold Asset Management, also to 7IM.
ASHL was launched in 2020 and has built independent and restricted advice networks, Sense and Lyncombe respectively to more than 450 advisers with about £9bn of assets under advice.
The cost of the deal, which is subject to regulatory approval, has not been disclosed.
In 2023, ASHL started to acquire financial advice firms under the LYNC Wealth Management umbrella. ASHL said the LYNC offering provided an exit route for adviser firms who wish to step back from ownership while remaining involved in the business, or for advisers planning retirement.
So far LYNC has bought seven nationwide firms that collectively manage £500m of assets under advice and says it plans to acquire up to an additional seven firms in the coming months.
ASHL says the sale to 7IM group marks “the next chapter” for LYNC...
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