What Johnston Carmichael Wealth does

Johnston Carmichael Wealth was a private financial planning and wealth management firm headquartered in Elgin, Scotland, that served individual clients and high-net-worth families across the UK. The firm offered a comprehensive suite of personal financial services including investment planning, pension planning, personal tax advisory, property tax advisory, and trust and inheritance planning. Its operating model was a direct advisory distribution channel — financial planners met clients face-to-face, with the Scottish operation alone employing 14 financial planners overseeing approximately £900 million in assets for around 1,300 clients, led by managing director Craig Hendry. Revenue was generated through recurring advisory and management fees on assets under administration, a subscription-style recurring revenue model typical of UK wealth managers.

In March 2025, Johnston Carmichael Wealth was acquired by Partners Wealth Management, part of the 7IM group, in a deal that added approximately £855 million in assets under management to the acquirer. The combined entity comprises 238 professionals overseeing approximately £6 billion in assets for around 6,000 clients. In February 2026, Johnston Carmichael Wealth formally rebranded to Partners Wealth Management, unifying the two firms under the PWM brand as part of a strategy to expand regional presence in Scotland. The firm is closely associated with the broader Johnston Carmichael accountancy and business advisory group — Scotland's largest independent chartered accountancy firm with nearly 1,000 professionals across 11 UK offices — which provided cross-referral and ecosystem advantages. The business operates as a professional services platform with no proprietary technology products, relying on personal advisory delivery rather than a software stack.

Name

Johnston Carmichael Wealth

Legal name

Johnston Carmichael Wealth

Website

https://johnstoncarmichael.com

Company type

Private

Founded year

2026

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Johnston Carmichael Wealth is a Scotland-based financial planning firm serving individual clients and high-net-worth families with investment, pension, tax, and inheritance advisory services. Following its 2025 acquisition by Partners Wealth Management (7IM group) and 2026 rebranding, it now operates within a combined platform managing approximately £6 billion in assets.

Ownership category

akta.pro rank

Product category

Wealth Management & Professional Advisory

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Banking & UHNW Wealth Advisory (FSAEABAC)

akta.pro secondary industries

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD), Trust & Fiduciary Advisory for HNW/UHNW (Trust Structuring & Trustee Oversight) (FSAAABAF), Private Banking Business Owners & Entrepreneur Solutions (Liquidity Events, Pre-IPO) (FSABADAK)

Keywords

• Wealth management services
• Investment planning
• Pension planning
• Inheritance tax planning
• Financial advisory services

Headquarters

HQ city

Elgin

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Wealth Management Services: Provides comprehensive wealth management services including investment planning, pension planning, personal taxes, property taxes, and trust & inheritance services. Revenue is generated through advisory fees and management charges on assets under administration.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Johnston Carmichael Wealth provides comprehensive wealth management services to high-net-worth individuals and families, covering investment planning, pension planning, personal taxes, property taxes, and trust and inheritance services. The wider Johnston Carmichael firm complements these wealth offerings with audit, business advisory, corporate finance, tax, payroll, restructuring and insolvency, and digital advisory services delivered through dedicated sector teams.

Product overview

Johnston Carmichael is Scotland's largest independent accountancy and business advisory firm offering a comprehensive suite of professional services organized around core audit, business advisory, and corporate finance offerings supplemented by specialized tax, payroll, restructuring, and digital advisory modules. The firm operates as a partnership-owned practice with nearly 1,000 professionals across 11 UK offices, serving diverse sectors including energy, food & drink, technology, rural/agriculture, and professional services. Services are delivered through dedicated sector teams and specialized practice areas rather than a unified software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Audit & Assurance Statutory audits, financial reporting advisory, IT audit and assurance, CASS audit services, and pension scheme audit that help clients meet UK regulatory requirements.
• Business Advisory
• Corporate Finance
• Corporate Tax
• Payroll Services
• Employer Services
• Private Client Tax
• Restructuring & Insolvency
• VAT & Duty
• Investment Planning
• Pension Planning
• Personal Taxes
• Property Taxes
• Trust & Inheritance

Quantifiable outcome

• £6bn in assets under management for approximately 6,000 clients

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• 7IM GroupcoreOthers · 1 March 2025Partners Wealth Management (formerly Johnston Carmichael Wealth) is part of the 7IM group, which was formed in 2004. This acquisition and rebranding represents a significant milestone in Partners Wealth Management's growth strategy to expand its regional presence in Scotland.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Azets: Pan-Nordic accountancy and advisory group with growing UK wealth management presence serving HNW individuals and business owners through integrated tax, advisory and investment services. Competes in the same UK regional HNW advice market with a similar accountancy-anchored model.

Direct peers

• JM Finn: UK private investment management firm managing ~£10bn for HNW individuals, families, trusts and charities, providing discretionary portfolio management and financial planning. Comparable in scale (~£6-10bn AUM band), client segment and discretionary wealth model.
• 7IM (Seven Investment Management): The parent group of Partners Wealth Management, providing multi-asset investment management and wealth planning services to UK advisers, HNW individuals and institutions. Directly comparable in service offering, and the parent that now houses the firm's operations.
• Evelyn Partners: UK wealth management and professional services firm formed from the merger of Smith & Williamson and Rathbone Investment Management offshoot, combining financial planning, investment management, tax and accountancy advice for HNW clients. Directly comparable given the integrated advice + tax + wealth structure and HNW target market.
• Brown Shipley: UK private bank and wealth manager (owned by Quintet) offering investment management, financial planning, banking and trust services to HNW individuals and families. Directly comparable UK private-bank-style wealth advisory proposition aimed at similar client segments.
• Arbuthnot Latham: UK private bank serving HNW individuals, families and entrepreneurs with banking, wealth planning, investment management and trust services. Closely comparable in client profile (entrepreneurial HNW, family wealth) and integrated wealth + trust + banking service set.

Broad incumbents

• Rathbones Group: One of the UK's largest listed wealth managers with ~£60bn AUM offering investment management and financial planning to HNW individuals, foundations and trusts. Comparable as a UK wealth advisory firm but operates nationally at much greater scale than Johnston Carmichael Wealth's Scotland-focused practice.
• Cazenove Capital (Schroders Wealth): UK wealth management arm of Schroders managing ~£40bn+ for HNW individuals, families, trusts and charities. Comparable service breadth (discretionary management, financial planning, charity and trust services), though benefits from Schroders' institutional asset management infrastructure.
• Quilter plc: Large UK-listed wealth manager with significant advised and platform business serving affluent and HNW clients through a network of financial advisers. Larger scale and broader geographic reach but competing for the same UK HNW advice wallet.
• St. James's Place: UK's largest wealth manager by AUM (~£180bn+) with an extensive adviser network serving HNW and mass-affluent clients. Highly comparable client proposition (advice-led wealth management) but operates at national scale via a partner model rather than regional offices.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/JC_Wealth
• LinkedInlinkedin.com/company/johnston-carmichael-financial-services

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Johnston Carmichael Wealth