Thomas Miller acquired the wealth management business of Broadstone, a leading corporate benefits adviser backed by Oakley Private Equity. Broadstone used the proceeds to develop the capabilities of its core business.
Based in London with consultants in Birmingham, Southampton, Chelmsford and Glasgow, Broadstone Wealth Management looks after some £400m of discretionary assets for its 1,200 private clients. Thomas Miller, an employee-owned provider of insurance, professional and investment services, had been looking to acquire a strong London-based discretionary team to complement its offshore private client offering, operating under the aegis of its £2.5bn institutional investment business.
Hines Associates Limited acted as financial adviser to Oakley Private Equity.