S&W merger wins firm eighth place
Smith & Williamson merges with Solomon Hare to form the eighth largest firm in accountancy and financial advisory market
Smith & Williamson merges with Solomon Hare to form the eighth largest firm in accountancy and financial advisory market
Smith & Williamson has merged with Solomon Hare to form the eighth largest firm in the UK’s accountancy and financial advisory market, according to Accountancy Age statistics.
Link: The urge to merge
S&W previously stood at number nine in the UK, while the smaller, Bristol-based firm was at number 26. But the newly formed group will now have a combined turnover in excess of £120m, taking it above PKF to become the eighth largest UK accounting and financial advisory firm.
The new firm will continue to be known as Smith & Williamson, but will retain the Solomon Hare brand.
Solomon Hare partners will receive an undisclosed amount of S&W shares as ‘ongoing contributors’ to the group, according to Solomon Hare operations partner David Smart.
Gareth Pearce, chairman of Smith & Williamson, called the merger an ‘excellent strategic move’ for both firms and said that the combined group would become a ‘very strong player’ in the market.
The merger should bring a number of advantages for clients with Smith & Williamson’s investment fund management business, together with its tax, banking licence and pensions and financial advisory services all available to Solomon Hare clients.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View articlePersonas is an internal AI platform meticulously developed by BDO to boost productivity and streamline day-to-day tasks. Read More...
View article