Lawyers at Osborne Clarke in Bristol have advised shareholders on the sale of Rockhold Asset Management to platform and wealth manager 7IM, and Lync Wealth Management to an affiliate of 7IM.
Launched in 2022 by longstanding Osborne Clarke client Adviser Services Holdings Limited (ASHL), Rockhold Asset Management currently manages around £2 billion of assets and offers a managed portfolio service, multi-manager funds and a full bespoke discretionary management service to clients.
Following this transaction, Rockhold will continue to operate under its existing leadership, broadening 7IM’s funds and MPS offering, which are a core component of 7IM’s growth strategy.
Since its inception in 2020, ASHL has expanded its independent and restricted advice networks to more than 450 advisers with around £9 billion of assets under advice. In 2023, ASHL began acquiring firms under the Lync Wealth Management umbrella, offering an exit route for adviser firms wishing to step back from ownership while remaining involved in the business, or for advisers planning retirement.
To facilitate the disposals, Rockhold Asset Management and Lync Wealth Management were demerged from the wider ASHL group as part of a complex restructuring on which Osborne Clarke’s corporate reorganisation and simplification team advised.
A multi-disciplinary Osborne Clarke team advised on the transaction, including Bristol-based corporate partners Chris Yeo and Sarah Knight, along with Adam Turner, Andrew Massey, John Annan and Shauna Poole; Chris Hickey (financial regulatory); Nick Haywood and Anisah Ahmed (employment); Jaskirat Singh (commercial) and Tracey Wright (tax).
The Osborne Clarke team was led by London-based corporate partner Louise Grzasko, and also included Kamila Bochenek, Tom Lewis, James Robertson, Chris Ratcliffe, Edward Thomson, Anika Chandra, Stuart Rose, Clara Hutchison, Simi Lawal and Ben Doeh, from the firm’s London and Reading offices.
Osborne Clarke’s corporate team is considered a go-to practice for many companies in the financial services sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team provides advice at every stage of company development across all corporate issues, including equity and debt fundraisings, M&A, IPOs, JVs and corporate reorganisations.
Following the completion of these sales, which were subject to approval of the Financial Conduct Authority, Rockhold will continue to operate under its existing leadership, broadening 7IM’s funds and MPS offering, which are a core component of 7IM’s growth strategy.
Meanwhile ASHL will continue to operate its network of independent advisers under the Lyncombe and Sense brands. The deal will allow ASHL to concentrate on supporting the advice firms within its continuing network.
