Craven Street Wealth acquires London firm

Craven Street Wealth has acquired London-based Bernard Barrett Associates, boosting its assets under management to £1.25bn.

Craven Street Wealth was launched in March 2021 following the acquisitions of Kreston Reeves Financial Planning and Christchurch Investment Management.

It is the wealth management business of Craven Street Capital.

The acquisition of Bernard Barrett Associates follows the integration of Tarvos Wealth into the planning and wealth management group in February, following its acquisition last year. 

The firm is now comprised of eighteen financial planners, including eleven of which have chartered status. 

As part of the deal, all Bernard Barrett Associates staff will remain within the business immediately following the acquisition and will continue to operate from a London office. 

Bernard Barrett, managing director of the firm, will remain employed with Craven Street Wealth, eventually taking up a relationship management role.

Meanwhile Stuart Bates, director at Bernard Barrett Associates, will join the Craven Street Wealth management team.

Barrett and Bates said: “It was clear from our initial discussions that Craven Street Wealth would be a great fit for both our clients and our staff, with welcoming and down to earth people who have a wealth of experience and expertise. 

“What is of the utmost importance is that Craven Street Wealth upholds the same core values we always strive for, putting clients at the heart of everything, aiming for excellence and building long-term relationships based on trust and integrity.”

Managing director of Craven Street Wealth, Tom Barnett added: “For Bernard, who has developed the business over most of his long career in financial services, I am delighted that after much deliberation he has entrusted the business to us and will continue to provide his support.”

jane.matthews@ft.com