Birmingham accountancy firm RSM Bentley Jennison has expanded after acquiring a £1.65?million independent financial advisory business based in Wolverhampton.
The acquisition of Ernest R Shaw (Financial Management) by RSM’s financial management group gives the firm a fee income of more than £10?million, with more than 100 employees across 13 sites. This makes the group the UK’s fourth largest financial management division of an accounting-based firm.
Ernest R Shaw’s 22 staff, including all self-employed advisers, will join RSM’s 40-strong Midlands financial management team. The company said it was growing quickly and was on target to meet ambitious growth targets in 2009.
John White, partner and head of RSM Bentley Jennison Financial Management, said: “The two firms are well matched, with both firms having highly skilled and experienced staff who share the firm’s goal to deliver a high-quality service to our clients. We are delighted to welcome them into the firm.”
Steve Matthews, Ernest R Shaw’s managing director, is set to become a director of RSM Bentley Jennison. He added: “We see RSM Bentley Jennison as visionaries and the team is excited to be joining such a young and ambitious financial services team. We see the firm as having a great future ahead.
“The strength and capacity of the larger team will further broaden our capability in delivering a quality and proactive service to our clients.”
The Birmingham-based general insurance broking division of Ernest R Shaw will continue to trade independently.
RSM Bentley Jennison Financial Management – the division through which RSM Bentley Jennison delivers pensions, protection and wealth management advice to its clients – has a significant strength in the Midlands with more than 40 team members based in Birmingham, Halesowen and Milton Keynes.
