Raymond James to acquire Charles Stanley for $387m.

Raymond James, an American multinational independent investment bank, agreed to acquire Charles Stanley, a UK investment management company, for $387m. The transaction, subject to UK Financial Conduct Authority and Charles Stanley shareholder approval, is expected to close in the calendar fourth quarter of 2021. “We have long admired Charles Stanley’s reputation, heritage and its talented pool of wealth managers and professionals. The two firms share a common, and increasingly rare, client-centric approach whereby the primary client relationship is held by the individual wealth managers. We both offer employed and self-employed affiliation models, while Raymond James also provides platform services, enabling the flexibility that wealth managers value. Further, Charles Stanley meets Raymond James’s historical acquisition criteria, in particular as an excellent strategic fit with a complementary culture,” Paul Reilly, Raymond James CEO.