Blankstone Sington - Case Update

UK wealth management and stockbroking firm Redmayne Bentley has agreed to acquire the private client business of Liverpool-based wealth management firm Blankstone Sington, subject to final regulatory and Court approval.

Blankstone was placed in special administration on 13 October 2023, almost two years after the FCA initially prohibited the firm accepting any new client money or disposing of its assets. Andrew Poxon, Alex Cadwallader and Hilary Pascoe of Leonard Curtis were appointed joint special administrators.

Following their appointment, the joint special administrators determined that the most favourable solution for Blankstone Sington clients was a transfer of their money and assets to a single broker also regulated by the FCA. Following a thorough process with a number of parties, the joint special administrators selected Redmayne Bentley as the preferred candidate.

The proposed transfer, which is not expected to be completed until late June, will see clients reunited with their assets, with Redmayne Bentley as their new broker.

The joint special administrators have posted details of the proposed transfer and distribution to clients on its website.

The joint special administrators are advised by Drew Sainsbury and Richard Bulmore of Ashurst and Will Jones and Elizabeth Wood of Hill Dickinson. Their proposals (filed in November) can be found HERE.