The Irish pensions and investment firm Harvest Financial Services has been acquired by the UK’s St. James’s Place Wealth Management Group (SJP) in a deal to extend discretionary fund management to Ireland.
Harvest, which employs 50 people in Dublin, supports over 1,500 clients through the provision of pensions and investment advice and financial planning, representing €1bn through administration and advice.
SJP currently provides discretionary fund management services to its UK and Hong Kong clients via subsidiary Rowan Dartington and the group said the acquisition of Harvest will the expertise extend to clients in the Republic of Ireland.\
Harvest said it believes SJP’s service offering is unlike anything currently available in the Irish market, and identifies with the company’s culture of absolute focus on the needs of the client, as well as its awareness of social responsibilities.
Rowan Dartington executive chairman Graham Coxell said the acquisition is part of a strategic growth plan. “As a marketplace, Ireland shares many of the same characteristics as the UK, while Harvest has a track record of providing high quality financial and investment advice and pension services to clients there.”
“The firm shares many of our values and we look forward to working closely together to provide leading investment management services to Irish clients, helping them to achieve their financial objectives,” Coxell said.
Harvest CEO Gerry Devitt said: “This deal is testament to the hard work of all Harvest staff and we are extremely excited that St. James’s Place is bringing its market leading proposition and expertise to the Republic of Ireland.
“With so many complex financial decisions to make during our lifetimes, the need for professional and quality financial and investment management has never been greater. Helping people to achieve long-term financial security through the provision of retirement planning, financial planning and investment management was our goal when we started out over 25 years ago.”