Partners Wealth Management acquires Johnston Carmichael Wealth

Pictured (clockwise from top left): Dean Proctor, Mark Houston, Fiona Oliver, and Craig Hendry
Partners Wealth Management LLP (PWM) has acquired Johnston Carmichael Wealth, significantly expanding its presence in the UK wealth management sector.
The acquisition sees PWM’s client assets rise to approximately £6 billion, servicing around 5,500 private clients.
PWM, established in 2004 and part of the 7IM group, has grown from its four founders to a team of roughly 170, managing around £5 billion in assets. Johnston Carmichael Wealth, the wealth management arm of Johnston Carmichael LLP, brings an additional £855 million in assets and 1,500 clients, primarily across Scotland.
Johnston Carmichael Wealth will retain its existing team, led by managing director and highly experienced Chartered Financial Planner Craig Hendry, and will continue to operate under its current brand for the time being. The firm will maintain its close relationship with Johnston Carmichael LLP, ensuring continuity for clients while providing access to PWM’s expanded resources and expertise.
This acquisition forms part of PWM’s broader strategy to expand its reach across the UK, reinforcing its position as one of the leading independent wealth managers for individuals, families, and businesses seeking expert financial planning advice. Clients will benefit from a broad range of services, deep expertise, and enhanced technological capabilities, all while maintaining a highly personalised approach.
Fiona Oliver, managing partner of PWM, said: “We are delighted to welcome Johnston Carmichael Wealth to the PWM family.
“Their strong reputation, deep client relationships, and commitment to excellence make them a perfect fit for our long-term growth strategy. This acquisition allows us to expand our footprint in Scotland while continuing to deliver the high-quality, client-centric service that defines PWM.”
Craig Hendry, managing director at Johnston Carmichael Wealth added: “Joining PWM, and the wider 7IM group, provides an exciting opportunity for our firm to grow while maintaining the values and service our clients expect.
“With access to PWM’s extensive resources, investment solutions, and technology, we are well-positioned to enhance our offering and continue delivering exceptional financial planning advice.”
Dean Proctor, CEO of 7IM and chairman of PWM commented: “This acquisition is a testament to our ongoing commitment to strengthening our wealth management capabilities across the UK.
“Johnston Carmichael Wealth aligns perfectly with our strategic vision, and we are excited about the opportunities this partnership will bring for both our clients and our teams.”
Mark Houston, Chair and Senior Partner at Johnston Carmichael LLP said: “Today’s deal with PWM brings significant benefits most importantly for our clients and the Johnston Carmichael Wealth team, supporting their growth as they transition to the PWM brand.
“With our ambitious growth plans, it’s an exciting time for Johnston Carmichael. This will support investment in our next chapter, creating enduring impact for our clients, our people, and the communities in which we serve.”