Charles Stanley sale to US-based Raymond James approved

BVWire–UKIssue #31-1
October 5, 2021

The wealth management market continues to consolidate, as shareholders of the longstanding City of London stockbroker Charles Stanley (CAY) approved a sale to Raymond James last week—at a 43% premium-to-share price. Both firms offer similar employed or self-employed affiliation models, but technology costs (Raymond James has one of the industry’s more robust wealth management platform offerings) and regulatory expenses are driving more consolidation for financial services in the UK and elsewhere.

Please let us know if you have any comments about this article or enhancements you would like to see.