Groupe Allen Acquires UK Wealth Manager Altyx for Market Expansion

AI Summary

Groupe Allen has acquired Altyx Financial Planning, a UK-based firm targeting French nationals and cross-border wealth management. This marks Groupe Allen's first entry into the UK market through acquisition. Groupe Allen aims to reach approximately €5 billion in assets under management (AUM) by 2030, with the UK market representing an estimated 10 to 15% of total AUM. Currently, Groupe Allen manages €2 billion in AUM and serves about 2,700 families and entrepreneurs.