Titan Wealth Holdings acquires Cardale Asset Management

Titan Wealth Holdings, (“Titan Wealth” or the “Group”) today announces the acquisition of Cardale Asset Management, (“Cardale”) as part of its ongoing strategy to bring a new proposition to the wealth and asset management sector. The acquisition is subject to FCA approval.

Based in Harrogate, North Yorkshire, Cardale is an independent investment management business, with turnover of £16mn and EBITDA of £9.4mn (for FY 2021), and provides portfolio management, stockbroking and financial planning services to private clients. Since its launch in 2003 Cardale has seen impressive and sustained growth, reaching £1.5bn in assets under management (AUM) which it manages for approximately 3,500 clients, and employing circa 70 financial and investment professionals under the leadership of a highly experienced Board.

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James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth said: “We are delighted to welcome the team at Cardale to Titan Wealth. Cardale is a highly profitable and well-respected business with a focused and proven investment process that consistently delivers outperformance to its client portfolios. Cardale will form a key part of Titan’s central investment proposition and enhance the Group’s distribution capabilities, providing Titan Wealth with a significant presence in the North of England, making it an excellent strategic, geographic and cultural fit for both parties.

“This marks another important milestone for Titan Wealth in our journey to drive reform of the sector, to create value and provide more integrated and flexible services to investment managers, IFAs and clients and we are excited by the future growth opportunities.”

Titan Wealth launched in June 2021 with the acquisition of two leading investment and wealth management businesses – GPP and Tavistock Wealth Limited. The acquisition of Cardale is anticipated to double Titan Wealth’s revenues and will also support its continued growth towards meeting its target of £20-30bn in AUM within four years of launch.

Andy Tod, CEO of Cardale said: “Having established Cardale in 2003 and grown the business organically since inception, now is the right time to find a partner with the expertise and reach that will take us to the next level and ensure we continue to deliver a compelling offering for our existing and prospective clients. In Titan Wealth we have found a highly complementary partnership with strong cultural alignment that will drive growth in our client base and distribution capabilities, allowing us to continue to invest in our operations and client service. It is a testament to the positivity associated with the acquisition that all existing Cardale employee shareholders will be reinvesting in the new business. We are very much looking forward to working with the team at Titan Wealth.”

The acquisition is expected to complete in March/April 2022, subject to regulatory approval, and after which Titan Wealth will have AUM of £5.2 bn.

Cardale will operate under the Titan Wealth holding group and retain its existing model, leadership and brand.

Titan Wealth was advised by Spencer House Partners, Gateley Legal, and BDO.

Authorised and regulated by the Financial Conduct Authority No 816958.

Registered in England and Wales No. 11483414

Registered address 101 Wigmore Street, London W1U 1QU

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Information about the Financial Ombudsman Service (FOS) is available                              from their website www.financial-ombudsman.org.uk

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2 Greengate
Cardale Park
Harrogate
HG3 1GY

Telephone: 01423 534100
E-mail: info@titan-fp.com

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Paul Hunt

CEO

Paul Hunt is a proven business leader and entrepreneur with over 30 years’ experience and track record of scaling businesses across multiple sectors. Hunt is highly experienced in business turnarounds, strategic planning and creating a positive people culture geared for success.

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David Chandler

Portfolio Assistant

David is responsible for providing operational support to the fund managers. David has passed the CFA UK IMC and graduated in 2018 with a degree in Economics and Business Management from the University of Sheffield.

James Peel, CFA

Portfolio Manager – ESG

James is a Portfolio Manager at Titan Asset Management and is responsible for Titan’s approach to sustainable investing. He previously worked as a researcher at the British Chamber of Commerce in Taipei. James graduated in 2018 from the University of St Andrews, where he studied economics. He is a CFA charter holder and has passed the CFA UK Investment Management Certificate (IMC), the CFA UK Certificate in ESG Investing, and the CFA UK Certificate in Climate and Investing (CCI).

Jonah Levy, CFA

Portfolio Manager – Physicals

When not collecting various minerals and mining memorabilia, Jonah can be found managing the physical allocations at Titan Asset Management. Prior to Titan he worked at Tavistock Wealth for 3 years, having previously gained experience in Holland at an oil brokerage, and in London at an energy trading house. Jonah is a CFA charter holder, having graduated from St. Andrews University with an MA in Management and Economics.

Alex Livingstone, CFA

Head of Trading – FX & ETFs

Alex is responsible for the ETF trading and FX strategy at Titan Asset Management and has executed over £5 billion of trades during his prior 4 years at Tavistock Wealth. Alex also assists in the wider portfolio management of the CIP specialising in technical analysis and risk management. He is a CFA charter holder and holds an BSc in Retailing, Marketing and Management from Loughborough University.

Sekar Indran, CFA

Senior Portfolio Manager – Equities

Sekar is responsible for managing the team’s equity investments. He helped expand the investment proposition over five years at Tavistock Wealth and continues this role at Titan Asset Management. Sekar has prior financial services experience at Barclays and Allianz. He is a CFA charter holder and holds a BSc degree in Industrial Economics from the University of Nottingham.

John Leiper, MSc, CFA, FDP, CFTe

Chief Investment Officer

John Leiper is the Chief Investment Officer of Titan Asset Management and carries direct responsibility for all investments in the Centralised Investment Proposition (CIP) at the firm. John has 15 years’ experience in financial markets having previously worked in a variety of roles at RBS, Morgan Stanley, Credit Suisse and Tavistock Wealth. John Leiper is a CFA and FDP charter holder and a member of the Society of Technical Analysts. He holds a BSc degree in Economics from Warwick University and an MSc degree in Economic History from the London School of Economics.

Matthew Cureton

Co-Founder

Matthew has been an intrinsic part of Haibun (now Titan Alternatives) since its formation. As a Co-Founder, he has focused on developing relationships with clients, providers, and companies seeking funding.

Matthew’s personal involvement with the fund-raising activities at Titan Alternatives starts at the very beginning of each journey.

Incorporating the due diligence process, meeting with the various management teams, and visiting companies on site, to then being involved with the marketing documents, hosting presentations, and facilitating the investments for clients. Matthew also continues to monitor and report on the investment throughout its life, which has included him taking on Non-Executive Directorships or observer roles on various company boards.