Shackleton launches personal injury and Court of Protection division with IM Asset Management acquisition

Shackleton, the UK Independent Financial Advisory and wealth management business, has agreed to acquire IM Asset Management (IMAM) from UK law firm Irwin Mitchell. This acquisition enables Shackleton to launch a specialised personal injury and Court of Protection division, providing tailored financial planning and investment advice to individuals who have suffered life-changing injuries. The transaction is subject to regulatory approval by the FCA.

With approximately £1.4bn in assets under management (AUM) and circa 1,600 clients, IMAM significantly enhances Shackleton's service offering and expands its presence in the North of England through offices in Sheffield, Leeds and Manchester. Stewart Sanderson, IMAM CEO, joins Shackleton's Executive Committee.

Shackleton has now completed 21 acquisitions since Sovereign invested in 2021. Following this latest transaction, the business now manages approximately £7.2bn in AUM, with a team of more than 400 professionals, including 100 advisers.

Alex Hay, Partner, Sovereign Capital Partners, said: "The acquisition of IM Asset Management marks an important strategic development for Shackleton. The creation of a dedicated personal injury and Court of Protection division significantly enhances the firm's specialist capabilities, while the expanded presence across the North of England strengthens its nationwide footprint. Through our Buy & Build strategy, we are supporting Shackleton's vision to build a truly client-focused wealth management firm with specialised services that make a meaningful difference in people's lives."

Paul Feeney, CEO, Shackleton, said: "We are delighted to welcome these highly experienced teams to the Shackleton Group. Indeed, we are excited to be creating a new division which brings additional skill sets to our bench of financial planning and wealth management capabilities, and strengthens our presence in Yorkshire and the North West of England. Importantly, the creation of this new division aligns with the core values that sit at the heart of our company – caring, respectful, fair, dependable and courageous.As we continue to grow, our goal remains clear—to become Britain’s financial adviser, providing expert financial advice nationwide at a price people can afford."

Stewart Sanderson, CEO, IMAM, said: "We are pleased to be joining a company that has an overarching ambition to grow its team, product offering, geographical footprint and subsequently its client base. When talking to potential suitors about the next home for our team and business, it became very clear that Shackleton will be a great place where we can continue to flourish and grow our business. The work we do for our clients who have suffered such challenging circumstances is truly purposeful and we are excited to be creating a new division at Shackleton to support more clients who need this specialist advice."

Craig Marshall, Group CEO, Irwin Mitchell, said: "This deal aligns with our strategy to simplify our structure and allows us to invest further to grow our core offer as a full-service law firm. We’re the leading complex personal injury firm, we have one of the largest national private client practices in the UK, and we provide comprehensive legal advice for mid-market corporate businesses.

"The move also presents a great opportunity for IMAM to build on their strong foundations, having grown over the last 20 years to be a resilient and sustainable business, with a strong client ethos and culture. The knowledge, expertise and working relationships we have developed over the years will be important to us and our clients, and where appropriate, following the completion of the deal, we look forward to working with Shackleton in future."