Thursday August 22 2019

Blacktower Group absorbs £280m and PWS Group

 Blacktower Group absorbs £280m and PWS Group

Blacktower Financial Management International today announces the official agreement to transition the assets and personnel of international financial manager, PWS Group, under the Blacktower Group.

The acquisition strengthens Blacktower’s vertically integrated growth plans, and bolsters its position as a leading driver in providing bespoke wealth management solutions to its global client base.

John Westwood, Group Managing Director of Blacktower commented:
"This is a significant transaction, involving the transfer of £280m of client funds moving over to our advisory platform. We are pleased to welcome both Craig McConnon and Afzaal Abass, along with their PWS colleagues, into the Blacktower Group. We greatly look forward to working with them and further expanding Blacktower's worldwide presence.”

Craig McConnon, PWS Chief Executive Officer stated:

‘The merger between our respective organisations made complete sense at Group level, but more so for our valued clients, both existing and future. International clients rightfully demand high standards of advice and positive outcomes in their financial planning arrangements. The Blacktower Group provides a market leading proposition that enables our Advisers to deliver a highly regulated and multi-jurisdictional offering.’

He continued:

 ‘We are delighted to be joining John Westwood and his experienced team, and look forward to building on their already unrivalled success, spanning over 30 years in the international market place.’

The sizeable arrangement is viewed by Blacktower Group as the first of many agreements under consideration, with further announcements to be expected in the coming months.

"This is a significant transaction, involving the transfer of 280m of client funds moving over to our advisory platform"
John Westwood, Group Managing Director, Blacktower

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