The US-listed investment house held a stake of around 11 per cent stake in Vestra Wealth. The shareholding “helped enable the business to grow and expand its platform, so that it is now one of the leading independent wealth managers in the UK”, according to a statement from Vestra Wealth today.

“As we approach our five year anniversary, having built a platform which is firmly established in the industry, it was the right time for the partners to agree this acquisition from Goldman,” Vestra Wealth senior partner David Scott said.

“It also comes at a time of on-going change in the industry. As regulation has been brought in which supports our own founding values of transparency and independence, we now look to other areas of the market where we believe we can take the lead in fulfilling our client’s ever-changing needs,” Scott said.

The move comes weeks after London-headquartered Vestra launched a US business, Vestra US Wealth Management, aimed at the complex regulatory and tax issues faced by transatlantic investors. This unit is regulated by both the UK’s Financial Conduct Authority and the US Securities and Exchange Commission.