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Charles Stanley buys Garrison; FINANCE.

Private client stockbroker Charles Stanley has agreed to buy a Yorkshire financial intermediary Garrison Investment Analysis for up to pounds 8 million.

Garrison, described by Stanley as one of the leading discount financial intermediaries in the UK, specialises in selling units trusts and other packaged investments in a variety of "wrappers" such as IS As and pensions.

Garrison administers clients' assets worth some pounds 200 million and another pounds 175 million in collective funds.

Mike Lilwall, a director of Stanley, stressed the acquisition will make no difference to clients of its Birmingham office run by Lawrence Fagg.

"It is a different type of client, purely execution only," he said. "All the Birmingham clients are advisory or discretionary."

Sir David Howard, Stanley's chairman, commented "Garrison with its well-established name, is an excellent fit for the range of services offered by Charles Stanley. Strategically this is a further expansion for us into the strongly growing execution-only area of the market."
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Jun 15, 2007
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