Isle of Man-based Manx Financial Group acquires a Liverpool wealth management business in a £210,000 deal. Tony McDonough reports
Liverpool wealth management business CAM Wealth Group has been acquired by Isle of Man-based Manx Financial Group in a £210,000 deal.
CAM was founded in the city in April 2023 following a management buyout of Charteris Asset Management by Derek Gawne and Lizz Ewart. They both joined Charteris in May 2021 to set up its new Liverpool operation.
Derek is well known in Liverpool, having previously worked at a senior level for Charles Stanley, Redmayne Bentley and Raymond James. He also founded his own consultancy, DG Capital Services.
Lizz has more than 30 years of experience in investment management and private equity. Her CV includes roles at Amati Global Investors, F&C, Aberdeen Asset Management, JP Morgan Fleming, Schroders and Barings.
Speaking after the sale of the venture to AIM-listed Manx, Lizz said: the deal gives the business “growth prospects”. She added: “We believe this is a real opportunity for us to assist MFG and their customers by providing a broader range of services and skills.”
Manx says the acquisition of CAM is part of a plan to build a “robust and diversified financial services group to support the ongoing objective of continuously enhancing shareholder value”.
CAM has accompanying UK FCA licences which Manx says will provide “an excellent platform from which we can build upon to provide general insurance products, together with full financial planning and investment services, to both retail and SME customers”.
It also said CAM will provide synergies with the group-owned Isle of Man IFA, Edgewater Associates and to the 100,000 plus customers of Payment Assist.
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Manx chief executive Douglas Grant said: “The acquisition of CAM Wealth is a significant building block for Manx Financial Group.
“By integrating CAM Wealth’s expertise into our operations, we unlock opportunities to provide our UK customers with a comprehensive suite of financial planning, investment services, and insurance solutions.
“This acquisition aligns perfectly with our objective of enhancing shareholder value while exploring new avenues for growth within the UK’s financial landscape.”
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