The UK wealth manager and private bank will enhance its regional footprint with the purchase.

Brown Shipley has agreed to acquire The Roberts Partnership, a Manchester-based financial planning and wealth management company with £450 million ($552 million) in funds under management, for an undisclosed sum.

The Roberts Partnership, which consists of 7 advisors, has particular expertise in wealth planning. Following the acquisition, set to complete on 1 November 2016, the firm will become a subsidiary of Brown Shipley and join its Manchester office.

“Following on from our acquisition of Hampton Dean last year and KBL epb’s acquisition of Insinger de Beaufort, it further supports our growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients,” said Ian Sackfield, chief executive at Brown Shipley. 

“The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients, so I am confident the new team will make an important contribution to Brown Shipley and its future success.”

Brown Shipley has client offices in London, Manchester, Birmingham, Leeds, Edinburgh, and Nottingham. Its parent company is KBL European Private Bankers, based in Luxembourg.