Cavendish Asset Management expects other suitors to arrive as it waits to see if Quilter's offer of £42m for the firm is topped, reports sister publication Professional Adviser
The asset manager argued Quilter's bid for the 400 adviser-strong firm, which was announced earlier today, was low "for a business with blue-chip clients and good growth potential". It went on to suggest the AIM-listed firm would be ripe for another offer from the likes of Hargreaves Lansdown, Rathbones, Smith & Williamson, or others of that ilk. The deal Quilter has agreed with Lighthouse, which has the backing of the latter's executive and top three shareholders, would see Quilter and its advice...
‘My top tips’
'This is a moment in history like no other'
‘Inconsistencies making it very difficult’
Advised vs non-advised?
Almost 1.2 million visits in a year