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From | Tuesday 7 August 2018

A Hull-based financial advisory firm with more than 700 clients and £30m of assets under management has been acquired by a Dubai-headquartered group.

Cheshire Trafford, founded in 1976, specialises in investment advice, tax planning, life assurance, and pensions. It has $38.75m (£30m) of funds under administration.

It has been acquired by Dubai-based Argentum 47, formerly known as Global Equity International, through its UK subsidiary Argentum 47 Financial Management Ltd.

The group specialises in retail and corporate financial services, and corporate consultancy and human resources, with offices located in Dubai and the UK.

Peter Smith, chief executive of Argentum 47,said: "Cheshire Trafford has a loyal and long term generational client bank with around $39m on its books. This acquisition will now kick start our growth program with the next targeted acquisition bringing a further $52m of funds under administration, also being driven towards its conclusion."

Read the full story here.