A financial planning business is moving to management ownership after agreeing a deal with the man who founded the firm almost 40 years ago.
Ron Walker, founder of Alderley Edge’s Clarion Wealth Planning, has sold 60% of his shareholding to the existing management team, led by John Winstanley.
The team of Mr Winstanley, Adam Wareing, Matt Sherratt and Alistair Cartwright say the move means the company will remain independently managed and not be absorbed by a bigger rival.
Mr Walker, a pioneer in fee-based financial planning in the Ƶ, founded Clarion in 1985. It has been family-owned ever since, with Mr Walker and other members of the family owning shares.
The founder will stay on at the business for five more years, and chairman Keith Thompson will also remain “for the foreseeable future”.
Mr Walker, also a founding member of the Institute of Financial Planning (now part of the Chartered Institute for Securities & Investment), said: “My goal was to build a financial planning firm that was commercially successful but compassionate and holistic, and I believe that with the help of my fantastic team, that goal has been achieved.
“Many of our clients have worked with us across multiple decades and multiple generations, and we’re honoured to have been trusted by so many for so long.”
“Going forward, Clarion will remain in the hands of those who have played an integral role in growing and nurturing the business into what it is today. So, clients can trust that our commitment to excellence and care will continue and that their relationship with Clarion and their financial planner will remain.”
Mr Winstanley said: “Our commitment to delivering the highest level of service remains unchanged, and Ron will continue to work with Clarion over the next five years to ensure a smooth and seamless transition.
“Beyond that period, our ethos, values, and commitment to the ‘Clarion Way’ will remain unwavering.”
Jon Davage and Laura McMorland at the Manchester office of Bermans Solicitors advised the management team on the transaction. Ms McMorland said: "We are delighted to have been able to advise the management team on this transaction. Clarion Wealth Planning is a well-established successful business and we look forward to seeing it continue to flourish in the future."
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