In a surprise move , FinnCap has announced plans to acquire boutique advisory Cavendish , a 40-strong firm co - founded by Conservative Party treasurer , Lord Leigh of Hurley . The move comes amid a fresh wave of consolidation in the sector , prompted by regulatory changes impacting the way brokers can charge for research . [research] is a small part of the business.” However , FinnCap ’s founder and CEO Sam Smith said the deal was a defensive move , saying it had been planned for some time . The newly - merged firm is expected to list on AIM in December , seeking to raise £ 6 m ( $ 70 m ) at a valuation of around £ 46 m .
In a surprise move , FinnCap has announced plans to acquire boutique advisory Cavendish , a 40-strong firm co - founded by Conservative Party treasurer , Lord Leigh of Hurley . The move comes amid a fresh wave of consolidation in the sector , prompted by regulatory changes impacting the way brokers can charge for research . However , FinnCap ’s founder and CEO Sam Smith said the deal was a defensive move , saying it had been planned for some time . The newly - merged firm is expected to list on AIM in December , seeking to raise £ 6 m ( $ 70 m ) at a valuation of around £ 46 m .