Davy Private Clients is set to acquire Northern Irish wealth management firm, Square Seven Financial Planning, for an undisclosed sum.
Following the deal, Square Seven founders David Rea and Sam Curry will join Davy’s existing Belfast-based private client team.
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This deal, which marks Davy’s fourth acquisition over the past two years, will increase its footprint in the North.
Sources said that Davy will pay up to 2 million based on certain targets being met.
Stephen Felle, managing director of Davy Belfast office, said: "Furthermore, the UK-centric investment, operational and regulatory processes we have established in Northern Ireland gives Davy the platform to assess growth opportunities into the wider UK mainland and to build out our service offering to IFAs in Northern Ireland and Great Britain.
"Senior appointments at our Belfast office, together with the acquisition of Square Seven firmly establish Davy as a major player in Northern Ireland’s evolving financial services marketplace."
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By GlobalDataDavy had opened an office in Belfast in 2007 and has 10 people working in its private client’s division. Square Seven, which has 400 clients and £75 million (89 million) of assets under management, advises private, corporate, trust and pension clients.
