Saltus merges with Consilia Wealth Management
9 March 2021
We are delighted to announce that Saltus has merged with Consilia Wealth Management, a high-net-worth specialist wealth management business based in St. Albans with £200m of AUM.
Consilia had received multiple approaches from various IFAs. However, they selected Saltus because it offered a better cultural fit, where the client comes first. In addition, Saltus brings discretionary investment permissions, which will allow the Consilia advisers to continue to manage their client portfolios but on a discretionary instead of advisory basis. This cuts down on admin for both the firm and clients alike – whilst keeping the investment strategy exactly the same, given the excellent historic performance.
Michelle Midgen, CEO of Consilia said “We see Saltus as our big brother – it’s what we wanted to be like when we grew up. They have invested in excellent technology and investment infrastructure which as a small firm was outside our reach. By joining forces with them, our clients can benefit – without us having to reinvent the wheel. We also love the way they really care about the client experience. I couldn’t be happier or more excited at the prospect of a joint future with Saltus.”
Jon Macintosh, Managing Partner of Saltus said “Consilia is a jewel and we are thrilled to add it into the Saltus crown. We can help them do even better for their clients, combining their personalised service with our platform and technology, as well as providing their team with greater bandwidth to grow their client bank.”
The senior members of the Consilia team will join as equity partners of the Saltus Group. Saltus plans to retain the office in St Albans.
Saltus is a growing firm with an appetite to expand further by selectively acquiring similar high-quality firms. The Saltus Group consists of Saltus Financial Planning (SFP), an independent financial advisory business which helps clients achieve their financial goals through expert financial planning, and Saltus Investment Managers (SIM) an award-winning investment management team which has its own platform.
The Saltus Group has doubled in size from £0.8bn in 2018 to over £1.6bn today, following a series of successful acquisitions and achieving ambitious organic growth targets.
Over the years, SIM has won numerous industry awards including a coveted PAM award for best performance cautious portfolios 2019. SIM was also a finalist in best performance defensive portfolios 2019 and best performance cautious portfolios 2020.
As SFP is an independent firm, they recommend investment solutions from a range of providers to ensure these are completely aligned to the clients’ individual financial plans.
The Saltus Group now employs over 90 people across 4 regional offices.