Marlborough Strengthens Adviser Connections with Stake in First Wealth
- Chapters Capital
- Mar 28
- 2 min read
28th March 2025
Fund management firm Marlborough Group has acquired an undisclosed 20% stake in the London-based financial advisory firm First Wealth. This investment represents a strategic move into the financial planning market.
The partnership positions Marlborough to enhance its advisory capabilities and explore closer integration between asset management and financial advice. The initial focus will be reviewing cost efficiencies within First Wealth’s investment offerings. First Wealth currently manages around £500m in client assets and believes the partnership will help improve technology, strengthen its private office services, and support future mergers and acquisitions.
Co-founded in 2008 by Anthony Villis and Robert Caplan, First Wealth provides comprehensive financial planning and discretionary investment management services, mainly outsourcing to Schroders. Although a decision has not yet been made to switch discretionary management to Marlborough, this option remains on the table, reflecting a trend in the industry where advisory firms increasingly align with asset managers.
Marlborough’s investment is consistent with a recent trend of asset managers directly investing in advisory firms. This is evident in Marlborough’s previous acquisitions, which include stakes in Adviser Services Group Holdings and Truly Independent. Such arrangements enable firms like First Wealth to maintain their autonomy while gaining access to significant capital and operational support for business growth.
First Wealth emphasised the strategic reasoning behind the investment, noting a growing demand from advisers for whole-of-market advisory options independent of the restricted models often associated with consolidators. Marlborough's investment will also help First Wealth pay off existing debt from previous partner buyouts, enhancing its financial stability.
This transaction highlights a broader shift in the industry, where advisers increasingly consider factors such as reputation, cultural alignment, operational independence, valuation, and payout structures when partnering with larger institutions or private equity.
At Chapters Capital, we specialise in financial planning and wealth management M&A and understand the importance of strategic acquisitions for growth. Whether you are considering a sale, merger, or expansion, contact one of our professional associates today for a confidential, no-obligation consultation.