Shackleton Advisers has acquired the Chetwood Group, enhancing its footprint in the South West as part of its UK expansion strategy.

The Chetwood Group comprises Chetwood Wealth Management, Chetwood Investment Management, Chetwood Private Wealth, Ermin Fosse Financial Management, and Darnells Wealth Management.

This acquisition, the fourth for Shackleton in 2025, increases its assets under management by over £900m ($1.2bn), bringing the total to approximately £8bn ($10.9bn).

Additionally, the deal brings 45 new employees to Shackleton, raising its nationwide workforce size to around 450.

Chetwood Group executive chairman Mark Pendarves said: “Our journey has brought us to a stage where further growth and evolution require significant investment in technology and infrastructure.

“As a privately owned family business, we’ve made the thoughtful decision to join a like-minded organisation that shares our values and commitment to excellence.”

Shackleton recently disclosed a definitive agreement for a majority investment from funds managed by Lee Equity Partners, which will replace its current private equity investor, Sovereign Capital Partners.

Sovereign first invested in Skerritts, a founding firm of Shackleton, in March 2021.

The transaction awaits regulatory approval.

The latest transaction is the 19th completed by Shackleton since Sovereign’s initial investment.

Shackleton CEO Paul Feeney said: “At Shackleton, we bring together the most respected, professional financial advice practices and unite them under one approach and one set of values and I am really pleased that Chetwood Wealth Management and all group firms are joining us to strengthen our presence in the South West.

“I have been working with Mark, George and Richard closely over the last couple of months and I am excited about the wealth of experience and expertise they will be bringing to our team.”

Shackleton CEO Paul Feeney said: “At Shackleton, we bring together the most respected, professional financial advice practices and unite them under one approach and one set of values and I am really pleased that Chetwood Wealth Management and all group firms are joining us to strengthen our presence in the South West.

“I have been working with Mark, George and Richard closely over the last couple of months and I am excited about the wealth of experience and expertise they will be bringing to our team.”

Last month, Shackleton acquired IM Asset Management (IMAM) from Irwin Mitchell, along with TWP Wealth, a financial planning business that IMAM purchased in 2022.

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