Brooks Macdonald, a wealth management firm, has acquired Lawrence House Fund Managers.
Canterbury-based Lawrence House has £60m in assets under management split between three Oeic sub funds and a range of bespoke discretionary portfolios. These will now be integrated into Brooks Macdonald Asset Management (BMAM), the firm’s specialist investment management arm.
Alan Stokes, the former head of multi-manager at Lawrence House, moves to a newly opened office in Tunbridge Wells as a fund manager, along with Carol Evins, a business development manager.
Lawrence House’s sister company, Pharon Independent Financial Advisers, based in Kent, is not part of the deal and remains a standalone business. However, Pharon is entering into an alliance with BMAM to provide investment management services to its clients.
Mike Sargeant, the managing director of Lawrence House, says the firm’s funds sit well within the Brooks Macdonald range because the philosophies of the two businesses are closely aligned.
Lawrence House remains cautious