Palatine supports Wren Sterling's TD Armstrong bolt-on

The deal is the third bolt-on made by Wren Sterling under Palatine's tenure, following the acquisitions of back books from First Trust Bank and Leek United Building Society.

The GP acquired Wren Sterling (then known as Towergate Financial) from insurance broker Towergate for £14m in 2015. It is invested in the business via £150m fund Palatine Private Equity II, which closed on its hard-cap in 2013.

The latest acquisition will increase Wren Sterling's assets under advice to £3.3bn. As part of the agreement, TD Armstrong financial coach Max Horne, independent financial planner Fraser Rowan and account manager Trudi Horne will join the parent group.

Company
Founded in 1982 and headquartered in Dunfermline, Scotland, TD Armstrong is a consumer-focused financial advisory firm that provides consultancy related to pensions, investment and personal wealth management. The business manages a total of £116m in assets.

People
Palatine Private Equity – Tony Dickin (partner).
Wren Sterling – Ian Halley (CEO).
TD Armstrong – Max Horne (financial coach); Fraser Rowan (independent financial planner); Trudi Horne (account manager).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Palatine Private Equity
• Build-up