Skerritts increases AUM by £540m with acquisition of Black Swan Financial Planning

Skerritts has acquired London-based IFA Black Swan Financial Planning, which has assets under management worth £540m, for an undisclosed sum.

Since private equity firm Sovereign Capital invested £55m in 2021, the firm has completed 10 deals.

Combined with another recent significant acquisition, KMG in Horley, Surrey, Skerritts’ assets under management will increase by over £900m and the group’s presence in London and the South East of England will increase, driving further national expansion.

Since Sovereign invested in Skerritts in 2021, a total of 13 acquisitions have been completed to date. In December 2023, Skerritts entered the North West market for the first time, with the addition of Chadwick McLean, an IFA based in Chester.

Alex Hay, Partner at Sovereign Capital Partners, said: “We are delighted to support Skerritts on these strategic acquisitions, which represent another milestone in their impressive growth journey.

“The addition of Black Swan and KMG significantly strengthens Skerritts’ presence in key regions and enhances their ability to deliver exceptional financial advice and wealth management services to clients across the UK. Our ongoing partnership with Skerritts is an example of our commitment to supporting ambitious businesses with the potential for significant growth and development.”