The business of serving those with life-changing injuries is important because advisors must protect a client’s wealth as much as possible. In this respect, Shackleton has acquired a business from the Irwin Mitchell Group.

Shackleton, a UK financial advisory firm, is launching a Personal Injury and Court of Protection division to manage money for clients with life-changing injuries.

The rollout of the new body was carried out after the acquisition from the Irwin Mitchell Group of IM Asset Management, including TWP Wealth, the financial planning company acquired by IMAM in 2022. This transaction is subject to regulatory approval by the FCA.

IMAM and TWP, which have a total of 20 advisors, serve about 1,600 clients with financial planning and investment management; this accounts for funds under management and advice of about £1.4 billion ($1.87 billion). IMAM is based in Sheffield, with advisors also in Leeds, Newcastle, Manchester, Birmingham and London. TWP is a high net worth financial planning firm based in Alderley Edge, Manchester. It will focus on its core market under the Shackleton brand.

The business of serving those with life-changing injuries is important because advisors must protect a client’s wealth as much as possible. Payments made to them after a personal injury case may be the only main sum that a person has to live on. A few firms, both on the legal and asset management side, do the job of dealing with these sorts of cases. One such firm is Rathbones. For example, in 2020, it completed its purchase the Court of Protection business of Barclays Wealth. In March, Rathbones completed its combination with Investec Wealth & Investment, taking on this CoP business. 

Led by CEO Stewart Sanderson, the IMAM/TWP team of 88 staff will join Shackleton after the acquisition is completed.

“Importantly, the creation of this new division aligns with the core values that sit at the heart of our company – caring, respectful, fair, dependable and courageous,” Paul Feeney, CEO of Shackleton, said. 

Craig Marshall, group CEO of Irwin Mitchell, said: “This deal aligns with our strategy to simplify our structure and allows us to invest further to grow our core offer as a full-service law firm. We’re the leading complex personal injury firm, we have one of the largest national private client practices in the UK, and we provide comprehensive legal advice for mid-market corporate businesses.”