Shackleton
PE-backed national IFA forged from the Skerritts rebrand.
Founded as Skerritts in 1989 in Sussex, the firm took private equity backing from Sovereign Capital in 2021 and embarked on a buy-and-build spree. In December 2024 it rebranded to Shackleton and added four advice firms simultaneously. Now led by former Quilter CEO Paul Feeney, the group has expanded further by acquiring IM Asset Management (£1.4bn) from Irwin Mitchell. Positioned as a chartered, advice-led national IFA with in-house DFM.
In short
The Skerritts Group rebranded as Shackleton in late 2024 under ex-Quilter CEO Paul Feeney. Aggressive consolidator with PE backing, building a national chartered IFA brand.
01 · Charging Model
What it costs the client — and you.
Total client cost is what regulators care about — and what clients shop on. We unpick it across advice, platform and product.
Our take: Independent charging set at firm/adviser level; central oversight via Shackleton compliance.
02 · Investment Proposition
Where client money goes
In-house DFM (ex-Skerritts Investment Management, now bolstered by IM Asset Management) plus whole-of-market.
- Risk-graded model portfolios run in-house
- MPS available on major platforms
- Bespoke DFM for HNW
- Court of Protection / Personal Injury division (via IM AM acquisition)
- Whole-of-market fund access for IFAs
03 · Tech Stack
What you'll work with daily
- Intelliflo iO
- Transact / 7IM / Quilter platforms
- FE Analytics
- DocuSign
- Microsoft 365
Our take: Tech is competent rather than differentiated — the strategy is brand and acquisition, not proprietary stack.
Strengths
Where it shines
- Strong leadership pedigree (Paul Feeney, ex-Quilter)
- Active acquirer — fast career progression for the right people
- Chartered, advice-led brand positioning
- In-house DFM plus whole-of-market freedom
- Generous deal structures for principals selling in
Watch-outs
Where it stings
- Brand is new (post-Dec 2024) — limited public recognition
- Integration risk: many bolt-ons being unified onto one operating model
- PE exit timeline creates strategic uncertainty
- Less suited to advisers wanting full self-employed autonomy
04 · Who owns it
Ownership
Sovereign Capital is a UK mid-market PE firm. Hold period typically 4–6 years — strategic event likely 2026–28.
Currently: Sovereign Capital Partners (PE) majority since 2021
05 · Day-to-day
Culture
High-tempo consolidator culture under experienced leadership. Suits ambitious advisers; less suited to those wanting a quiet life.
06 · When you leave
Exit options
Equity holders crystallise on the next PE event. Employed advisers face standard restrictive covenants.
07 · Payout Economics
Employed model — competitive base + bonus + equity for principals
Most acquired advisers move to employed contracts with deferred consideration linked to client retention. Equity programmes for senior advisers post-integration.
08 · Real Voices
What advisers and clients actually say
A balanced selection of public reviews from Trustpilot, Glassdoor, the FT and trade press — both glowing and damning. We don't cherry-pick.
"The rebrand and Feeney's arrival give Shackleton a credible national pitch. Deal terms for selling principals are amongst the keenest in the market."
Lots of change — pace is relentless
"Acquisition machine. If you joined via a deal, brace for systems migrations and cultural shift. Strong central support team though."
"Long-standing Skerritts client. The rebrand to Shackleton hasn't changed our adviser relationship — service remains excellent."
Fortis Connect Verdict
Best for
Principals looking to sell with attractive deal terms, and advisers who want a national chartered platform with in-house DFM.
Watch out for
Integration speed, evolving brand and the inevitable PE exit. Get clarity on earn-out mechanics before signing.
Considering Shackleton? Get an unbiased second opinion before you sign.
Talk to us →09 · Regulatory & Corporate Timeline
What's happened, and when.
- 2025
Acquired IM Asset Management (£1.4bn) from Irwin Mitchell
- 2024
Skerritts rebrands to Shackleton; four simultaneous acquisitions; Paul Feeney appointed CEO
- 2021
Sovereign Capital takes majority stake