21st November 2024
West Midlands-based Margetts Wealth has completed a significant management buy-in (MBI), ensuring the business remains independent and owner-managed. Directors Ian Butler and James Vickers, each with over 20 years of experience at the firm, have acquired equal shares in the company alongside current owner Kevin Smith in leadership. Smith, now stepping into the role of chairman, stated that the deal has been in the works for over four years, emphasising the importance of continuity for clients and staff.
Margetts Wealth manages £230m in assets for 350 clients, including business owners, professionals, and a network of accountants and lawyers. The firm offers a comprehensive suite of services, including investments, retirement planning, protection, trusts, succession planning, and exit strategies for business owners. Under the new structure, Butler and Vickers will oversee daily operations, while Smith will focus on business development and fostering relationships with intermediaries.
Butler highlighted the firm’s commitment to remaining independent, crucial for delivering trusted and personalised advice. With plans for 20% growth over the next 12 months, Margetts Wealth aims to leverage its extensive experience and strong pipeline of opportunities to enhance client service and expand its reach.
This deal illustrates a trend in wealth management towards management buy-ins, which balance leadership continuity and growth while prioritising independence and client focus. This approach contrasts aggressive acquisition strategies like Progeny's and Ascot Lloyd's regional integrations. Larger firms, such as Gallagher, have emphasised the importance of enhancing consulting capabilities by acquiring Redington.
These strategies demonstrate how firms adapt to regulatory challenges and shift client expectations by combining internal succession planning with strategic external partnerships to ensure long-term resilience and sustainable growth.
At Chapters Capital, we specialise in financial planning and wealth management M&A. We offer tailored guidance to help firms navigate leadership transitions, strategic partnerships, and growth opportunities. Whether you are exploring a management buy-in, considering a sale, or seeking to expand your client offering, contact one of our professional associates today for a confidential, no-obligation consultation.