Sovereign-backed Shackleton expands East of England presence

Shackleton, the UK Independent Financial Advisory (IFA) and wealth management business backed by Sovereign Capital Partners, has acquired Norfolk-based firm Harrold Financial Planning (HFP).

The acquisition adds approximately £300m in assets under management (AUM), bringing Shackleton's total AUM to almost £6bn.

Shackleton, formerly known as Skerritts, has now completed a total of 19 acquisitions since Sovereign invested in 2021. Headquartered in London, Shackleton operates as a single, nationwide financial advisory business, with 19 offices in major cities and towns across the UK. Shackleton aims to become one of the country’s most trusted providers of financial advice, operating with a single approach to investment management and an affordable, transparent charging structure.

This latest acquisition follows December's announcement of four strategic additions to the group: Scotland-based Save & Invest Group, Fleming Financial in the South West, and two Midlands-based firms, Robson Lister and Shorts Wealth Management.

Alex Hay, Partner, Sovereign Capital Partners, said: "The acquisition of Harrold Financial Planning represents another significant step in Shackleton's expansion and demonstrates our continued commitment to building a leading national wealth management firm. Since our investment in 2021, we have supported Shackleton in executing a successful Buy & Build strategy that combines strong organic growth with carefully selected acquisitions. The addition of HFP not only strengthens our presence in East Anglia but also brings aboard a team that shares our values and dedication to exceptional client service."

Paul Feeney, CEO, Shackleton, said: "I am delighted to welcome the talented team at HFP to the Shackleton Group. This acquisition expands our presence into the East of England and aligns perfectly with our goal of being Britain’s financial adviser."

Neil Warne and Robyn Lovatt, Managing Directors, HFP, said: “We spent significant time evaluating companies that would complement our ethos and ensure we are able to continue offering a comprehensive range of services to our clients. Joining Shackleton allows us to provide the added resources and benefits that come with being part of a larger group. We are very pleased we have agreed to become a part of Shackleton as they uphold the same high standards we strive to maintain. Being part of Shackleton will help us invest in and grow the business while ensuring our valued clients remain well cared for into the future."

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About Shackleton

Shackleton is uniting some of the UK's most respected and long-established financial advice firms under a single brand, offering fair and transparent fee structures and a consistent set of values. With a substantial nationwide presence, Shackleton aims to provide high-quality, dependable financial advice across the country, striving to be the most trusted financial adviser in the UK.

About Harrold Financial Planning

Harrold Financial Planning (HFP) provides informed, impartial and independent financial advice across the full range of financial services. Our clients range from national companies wishing to provide a full range of employee benefits, to the young first-time buyer requiring mortgage advice. Our aim is to build long term relationships with our clients to help them plan a secure retirement, arrange investments in the most tax efficient manner, protect an estate from inheritance tax or produce a comprehensive financial plan.