Wealthspire today announced a major move in the U.K. market. Ground Control Business Management (“Ground Control”), a division of Wealthspire, has completed the Black Frame Consulting acquisition. Black Frame is a London-based business management firm.
Wealthspire is an independent wealth management, institutional advisory, and business management firm. Through this deal, its Ground Control division adds specialized music and global touring expertise to its U.K. business management platform.
The acquisition of Black Frame Consulting expands the footprint of Ground Control in the United Kingdom and brings in a team with the relevant skills of expertise. This team also brings the special skillset of music and worldwide touring with them. As a result of this acquisition, Ground Control is now able to better cater to its entertainment clients.
Black Frame provides business management services to its clients. These include bill pay, bookkeeping, invoicing, and credit control. In addition, the firm offers tax consulting and preparation. Managing Director Amanda Barnett leads the firm. Her team supports entertainment professionals with the financial and administrative needs associated with their careers.
Wealthspire’s leadership explained why the deal matters. “Working in the entertainment industry brings a distinct set of financial demands, and Black Frame has experience helping clients navigate them,” said Mike LaMena, chief executive officer of Wealthspire. “That expertise adds a valuable dimension to Ground Control’s service of these professionals through every stage of their careers.”
Barnett also welcomed the news. “Our clients rely on us to manage the financial details behind their work so they can focus on their passion,” said Amanda Barnett, managing director of Black Frame. “Joining Ground Control and the broader Wealthspire organization is an opportunity to build on that foundation with a wider team and additional capabilities behind us.”
Black Frame Team Stays Under Barnett’s Leadership
Black Frame’s seven-person team will continue under Barnett’s leadership. Meanwhile, Nick Parkinson, Ground Control’s UK President, will support the team as it integrates into Ground Control. Therefore, clients can expect continuity while the firm gains access to a larger organization.
The announcement comes on the heels of another recent U.K. deal. Wealthspire recently acquired Atlantic Swiss Private Clients, a London-based private wealth manager. Notably, Black Frame shares several client relationships with Atlantic Swiss Private Clients. Thus, the acquisitions are perceived to help the group to enhance its presence in London.
In conclusion, through the acquisition of Black Frame Consulting, Ground Control increases its influence over the entertainment industry segment. Besides, this acquisition allows the platform to improve its service offering in terms of its music and international touring experience. As a result, Ground Control is able to expand its resources to attract more clients in the U.K.
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News Source: Businesswire.com
