Redmayne acquires the clients of wealth manager after it folds

UK wealth management and stockbroking firm Redmayne Bentley is acquiring the private client business of wealth manager and stockbroker Blankstone Sington after it went into administration.

Leonard Curtis was appointed as the special administrator for Liverpool-based Blankstone Sington on October 13, securing all clients’ assets and safeguarding the company’s systems.

Leonard Curtis said the most favourable solution for Blankstone Sington clients was for a transfer of their money and assets to a single broker which is also regulated by the Financial Conduct Authority. After undertaking a thorough process with a number of parties, Leeds-headquartered Redmayne Bentley was selected as the preferred candidate.

The transfer will enable clients to be reunited with their assets and provides them with a new home at one of the largest independent private client wealth management and stockbroking firms in the UK.

Leonard Curtis notified clients of the planned transfer to Redmayne Bentley. The completion of the transfer is expected in late June and as part of the process Blankstone

Sington clients will not be able to speak to Redmayne Bentley until this point.

In the meantime, information and support is available to clients affected on Leonard Curtis’s website.

Stuart Davis, chief executive of Redmayne Bentley, said: “We are delighted Leonard Curtis selected Redmayne Bentley.

"Being a privately-owned business of 150 years standing, we look forward to providing these clients with some stability and certainty going forward. Our service proposition, and the high levels of client service that we have always strived to deliver, provide a natural fit for Blankstone Sington clients.

“We are entering the final stages of regulatory and legal approvals but have passed key milestones such as signing of the sale and purchase agreement and submitting migration plans to the regulator. We continue to work with other external parties to ensure a smooth transition for clients.

Redmayne Bentley has previously completed large-scale transfers of clients from Havelock Hunter, Fyshe Horton Finney, and SP Angel.