I think you'll find Fitzpatricks Funds under Advice is much more...

I think you'll find Fitzpatricks Funds under Advice is much more than 700M, and the 700M quoted is only the amount in Managed Accounts that they have ring fenced to come over to HUB.

They have North of 7B, so if Hub plays their cards right, it could be many multiples of that that make their way over in the next few years.

Obviously commercially sensitive, but it would be interesting to see what discount was offered to secure the deal, as they won't be paid full fees on the accounts, so FUM won't necessarily translate into proportionately more profit.

http://yorkwaypartners.com/portfolio-item/fitzpatricks-group/