Waverton acquires Cornerstone Asset Management

Alan Reid, Founding Partner, Cornerstone Asset Management

London-Based Waverton Investment Management Group announced it has acquired Scottish-based wealth planner Cornerstone Asset Management, subject to regulatory approval.

Established in July 2010 and with offices in Edinburgh and Glasgow, Cornerstone offers wealth management and financial planning advice.

With about 1,000 clients, Cornerstone advises on £500 million of assets under management (AUM) and has a team of 22.

Waverton Investment Management CEO Nick Tucker said: “We have known Cornerstone for some time, having managed their Active Multi-Asset Portfolio range since 2012.

“They have built a highly-regarded growth business over the last decade and the broadened proposition is a demonstration of our shared belief that ‘if it works for clients, it works for us’.

“The acquisition is testament to our belief in goal-based wealth management and will provide a springboard for the development of our service offering for private clients, and entrepreneurs in particular.”

Alan Reid, Founding Partner, Cornerstone Asset Management said: “We are thrilled to be joining the Waverton Group, which has an excellent reputation and shares our culture and vision on how best to support clients and employees.

“They are a very forward thinking and ambitious organisation who share our core belief that successful outcomes for clients are our primary focus.

“This is an exciting development for our team and means we can continue to expand our growth plans even further.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.