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Applewood completes second acquisition with purchase of Simply Ethical

Applewood Wealth Management has acquired Shrewsbury-based IFA Simply Ethical. The firm, which provides ethical investment advice and was part of the Financial Limited network, has £20m in assets under management and a client base of 160. Peter Liebich, the owner is retiring.

The deal marks Applewood's second acquisition, following the purchase of North Wales-based Ravencourt last year.
Karl Hartey, Applewood managing director, says the deal goes some way to achieving his target of amassing £100m in additional assets over a 12-month acquisition spree.

Last month, Applewood sent letters to 340 firms within a 60-mile radius to gauge the appetite for acquisitions and from those responses Hartey has drawn up a short-list of eight firms.

As its client base expands, Applewood is looking to grow its numbers and is currently looking to recruit another adviser and paraplanner. It recently hired a paraplanner, reviewer and compliance officer.

Meanwhile, Hartey says Applewood has reported a good first quarter thus far, with trading levels up 20-25% on last year.

Applewood Wealth Management & Ravencourt Financial Management

During December of 2009 Applewood Managed to secure it’s first acqusition in the shape of Ravencourt Financial Management capturing £45 million of assets.

Applewood’s Trademarked Services will now be available in Ruthin with David Blair, Wealth Manager heading up the team and attending to our clients needs in North Wales.

Pictured opposite: Brian Jones of Ravencourt and Karl Hartey Managing Director of Applewood Wealth Management.

Best Investment Adviser 2009

In 2009 Applewood have won the Best Investment Adviser Award as part of "The Good Advice Awards 2009". Applewood's two Directors Karl Hartey and Gillian Cowling were in London on the 25th September at an official awards ceremony where they received the first ever Best Investment Adviser award and trophy.

This is the first time a boutique style business has been awarded the title and shows that small businesses outside of London are being acknowledged for their quality. Applewood won the award for their submission which was titled ‘£40 million invested, 2000 fund switches, £15 million saved. Cost to our clients Zero’.