Saltus Group has acquired 23-year-old wealth management firm NSL Wealth as part of its long-term growth strategy.
Saltus has known the team at NSL Wealth for more than 10 years, and the deal marks its second acquisition in the past six months. In September 2021, Saltus – which employs more than 90 people and manages more than £2bn in assets for its clients – acquired Farnham-based firm Fish Financial.
NSL Wealth was established by Syd Symonds in 1999 to offer tailored Independent Financial Advice by building longstanding client relationships with trust and transparency at its core. Fellow Director Jordan Batchelar joined in 2009 and the business now offers a wide range of financial services with £160m assets under management.
The acquisition – which follows Syd’s decision to retire – sees Jordan become a partner at Saltus, while Syd will take a consultancy and advisory role to ensure a smooth transition. Over the next few years, Syd will gradually pass all aspects of his day-to-day role to Jordan to ensure continuity for clients and the same high level of service they are used to.
Commenting on the acquisition, Jordan Batchelar said: “We have known the team at Saltus for over a decade; not only do they share our people-centric philosophy, but, also, they believe in continual investment in the business – whether that is in their people, technology or services – so, when we started the process of finding a buyer, Saltus was the clear choice.”
Jon Macintosh, managing partner at Saltus said: “The ten-year relationship between our two firms has allowed us to witness first-hand the expertise and professionalism of Syd and Jordan, and this has given us complete assurance that our two businesses are perfectly aligned.
“We are confident that Syd and Jordan’s skills and knowledge will complement our already established offering perfectly and are delighted to welcome the NSL Wealth team into the Saltus family.”
NSL Wealth has five staff all of whom will move across to Saltus, with its office in Bushey, Hertfordshire being retained. This ensures continuity for NSL staff and clients, and further strengthens Saltus presence in the Hertfordshire area, following on from its acquisition of St Albans’ firm Consilia Wealth Management in March 2021.