TEAM, the wealth, asset management and complementary financial services group, has conditionally agreed to purchase the entire issued and to be issued share capital of Concentric Group.

Under the agreement, TEAM will pay an initial consideration of £1.7m in cash, in addition to a further deferred consideration of up to £0.8m in new TEAM shares.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The deal is subject to approval by the Jersey Financial Services Commission.

Jersey-based Concentric is financial planning and investment consultancy business catering to high-net-worth (HNW) individuals and institutional investors in Jersey and worldwide.

It currently serves more than 430 retail, HNW and institutional investors with assets under advice (AUA) of £231m.

As part of TEAM, Concentric will offer its services to current and future TEAM Asset Management clients.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is also expected to help the Jersey firm expand distribution capabilities into overseas markets for HNWI clients and fiduciaries.

TEAM CFO Matthew Moore said: “Concentric is led by an experienced, ambitious team who have built a good business, growing the client base, services and staff, revenues and EBITDA in a challenging market.

“We are delighted they see the transaction as a stepping stone to achieve their own goals, by being part of a larger, wealth management business, with shared values and the ability to offer clients a broader range of investment advice services.”

Following the close of the deal, TEAM is expected to have assets under management and advice of approximately £550m, with approximately £1.4bn of cash under advice.

Moore further said: “Core to Concentrics’s investment approach is to focus on modern quantitative and qualitative analysis, with an emphasis on impact, ESG and sustainable development goals investing. These are values shared with TEAM and a basis for significantly expanding Concentric’s customer base by targeting the aspirations of the upcoming generation of investors in Jersey, the UK and internationally.”