Accounts from Sandaire, the family office bought by Schroders in 2020, show the firm made a loss of just over £5 million in the year it was acquired.
Revenue at the 1996-founded firm increased 5 percent to £8.6 million, while administrative costs rose 2.9 percent to £10.6 million. The firm also recorded £3.6 million in acquisition related costs – comprising £2.6 million in redundancy pay and just over £1 million fulfilling onerous contracts.
Funds un...
Start a free trial now for access to breaking news and cutting edge analysis of the wealth management industry.
You are currently not logged in,
login to view the full article
start by clicking this button.
Need a subscription,
fill out the form here or
contact subs@thewealthnet.com
PAM Insight is the world’s leading independent provider of essential specialist news, analysis and comparative data for the fast-evolving world of wealth management.
Read more about PAM
