Charles Stanley Wealth Management sells to USA counterpart

Raymond James

Wealth management company Charles Stanley, which has a major office in Oxford, is to be bought by USA counterpart Raymond James for around £279 million.

The transaction, subject to UK Financial Conduct Authority and Charles Stanley shareholder approval, is expected to close in the calendar fourth quarter of 2021.

Raymond James CEO Paul Reilly, said: “We have long admired Charles Stanley’s reputation, heritage and its talented pool of wealth managers and professionals.

“The two firms share a common, and increasingly rare, client-centric approach whereby the primary client relationship is held by the individual wealth managers. We both offer employed and self-employed affiliation models, while Raymond James also provides platform services, enabling the flexibility that wealth managers value. Further, Charles Stanley meets Raymond James’s historical acquisition criteria, in particular as an excellent strategic fit with a complementary culture.”

Raymond James has offices in Cheltenham, Gloucester, Stratford-upon-Avon, Oxford and Swindon.