Ashcroft Partnership LLP has been launched as the successor business to the Cambridge office of BKL, following a demerger.
Focused on business and tax advice, corporate finance and private client services, the 40-strong team in the office have transferred over to Ashcroft following the partner buy-out.
While most of the team are operating from home during the Covid-19 crisis, the company has offices at Flint Cross, near Heydon, and is plotting a move to central Cambridge later in 2020.
Cambridge-based clients make up more than half of Ashcroft’s base.
Dominic Anthony, Ashcroft’s managing partner, said: “We are thrilled to be embarking on the next chapter of our business evolution with the launch of Ashcroft. We have exciting plans to develop and grow each of our focused offerings and build on our already-strong client base.”
The company said the demerger was “entirely amicable” and it will continue to collaborate with BKL.
The move was motivated in part by a drive to “focus on advisory rather than the compliance services of a traditional chartered accountancy firm”.
Although compliance will continue to be part of Ashcroft’s work as a full-service firm, it intends to focus on the areas where it can add most value for clients, by expanding and developing its advisory services to businesses, private clients and entrepreneurs.
And it has begun by announcing a fifth partner: Angie Sleat will lead the family office, having worked alongside Adrian Wilson and Dominic since they founded the company as Ashcroft Anthony in 2006.
Adrian and Ian Dowling will lead on private clients, while Dominic and Fran Reid lead on business assurance and advisory, and Tom Gallop leads on corporate finance.
The firm also offers other specialisms, including farms and estates under Richard Crane with Elfed Evans-Jones, corporate tax under Heather Tulloch and trusts under Katie Watson.
It has grown rapidly since merging with BKL in late 2015, and in 2019 the practice acquired Green and Purple, which specialises in providing CFO-led virtual finance office services and consultancy in Cambridge and London.
The practice said it is working closely with the Green and Purple team, led by Lee Maughan, Katie Bent and Pete Carter, and intends greater integration with the core Ashcroft offering.
Such collaboration and partnerships are expected to be a cornerstone of the firm’s approach, and it also intends “to invest heavily in creating advisers of the future, whilst continuing to successfully attract the best talent with a desire to focus on their areas of expertise”.
The firm stressed that its primary focus, however, was its existing clients.
Dominic said: “We have served many of our clients for a very long time and they are what make life interesting and enjoyable.
“We are delighted that all are transitioning with us and the firm will always be about continuing to help our clients realise their ambitions.”
The development of the family office, meanwhile, is anticipated under Angie’s leadership.
Angie Sleat, partner at Ashcroft, leading the family office team. Picture: Ashcroft
She said: “I am delighted to be joining the partnership at such an exciting time, and I’m looking forward to continuing to develop the family office team at Ashcroft.
“The number and quality of our long-standing relationships with clients is testament to the work we do in advising families on the best possible solutions in often quite complex situations. I greatly enjoy making a positive difference in people’s lives, and it’s great that I will have the chance to do this for the Ashcroft team too.”
Dominic added:“The family office is a highly specialist, niche offering that continues to go from strength to strength under Angie’s leadership and this appointment is an indication of our intent to be the go-to advisers in the area for wealthy individuals and their families.”
Angie will also take on the role of ‘people and culture’ partner at Ashcroft, developing the HR strategy to help it become a leading employer in the Cambridge market.
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