Clarke Willmott LLP handed over control of its investment management activities today as new owners Brooks Macdonald moved into their Taunton office.
From today eight existing members of staff from the Clarke Willmott investment management team will transfer to the employment of AIM listed Brooks Macdonald Asset Management.
While the team will still be located in the law firm’s Somerset HQ their activities will be integrated into and rebranded as Brooks Macdonald Asset Management Limited (BMAM).
The team of eight staff, including five investment managers and three support staff, currently manage approximately £120 million of discretionary client assets.
The launch marks BMAM’s sixth office location, complementing its existing offices in London, Edinburgh, Manchester, Tunbridge Wells and Fareham in Hampshire.
Stephen Rosser, Chief Executive of Clarke Willmott LLP, said the move would benefit the firm’s existing clients.
He said: “The availability of high quality investment advice for clients of Clarke Willmott is an important part of our overall strategy and our investment management team has provided excellent client service over many years.
“We’re delighted that Brooks Macdonald will continue the development of the investment service to our existing clients and we very much look forward to working with them on an ongoing basis.”
Chris Macdonald, Chief Executive of the Brooks Macdonald Group, said the acquisition would open up the region for the business.
He said: “It has become even clearer from the integration process that there is a strong cultural and operational fit between BMAM and the new team from Clarke Willmott.
“We are delighted that they are now fully operational in our new offices in Taunton, providing a gateway for Brooks Macdonald into the South West.
“We are also looking forward to retaining strong business links with the partners and offices of Clarke Willmott, from which both firms can expect to benefit in years to come.”