Buyout at finance firm

FOUNDER SELLS 60 PER CENT OF STAKE INMANAGEMENT OWNERSHIP AGREEMENT

- ALISTAIR HOUGHTON

A FINANCIAL planning business is moving to management ownership after agreeing a deal with the man who founded the firm almost 40 years ago.

Ron Walker, founder of Alderley Edge's Clarion Wealth Planning, has sold 60 per cent of his shareholding to the existing management team, led by John Winstanley.

The team of Mr Winstanley, Adam Wareing, Matt Sherratt and Alistair Cartwright say the move means the company will remain independently managed and not be absorbed by a bigger rival.