Wren Sterling Adds £700m AUM with City Financial Acquisition
- Simon Bourke
- Jun 25
- 2 min read
25th June 2025
Wren Sterling has acquired Aberdeen-based City Financial, adding an additional £700m in AUM, 6,000 clients, and 19 advisers to its portfolio. This acquisition continues Wren Sterling’s growth as a private equity-backed national advice group, supported by Lightyear Capital, and brings the firm’s total assets under administration to £11bn.
As part of the deal, City Financial directors Fiona Mackenzie, Kevin Munro, and Sean Craig will join Wren Sterling, with Munro taking on the role of regional director. According to Munro, a significant factor in this decision was the strength of Wren Sterling’s discretionary fund management (DFM) offering, especially its in-house solution, Magnus, which provides cost efficiency and consistent investment performance.
City Financial operates in Aberdeen, Ellon, and Inverness, giving Wren Sterling a long-desired presence in North and East Scotland, a region the company has targeted as part of its strategic growth plan. James Twining, CEO of Wren Sterling, characterised the acquisition as a milestone for the firm’s regional ambitions, emphasising that recent deals have been fully integrated, allowing acquired firms to focus on growth with enhanced operational support.
Although the financial terms of the deal were not disclosed, it forms part of a broader expansion strategy driven by debt. This acquisition also highlights a growing trend in the advice market: firms with embedded DFM capabilities are increasingly viewed as attractive acquirers, offering integrated investment options and streamlined infrastructure for both clients and advisers.
At Chapters Capital, we specialise in financial planning and wealth management M&A and understand the importance of strategic acquisitions for growth. Whether you are considering a sale, merger, or expansion or want to learn more about buyers in the space, please contact one of our professional associates today for a confidential, no-obligation consultation.
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