Hurst Point, whose financial planning arm was rebranded Argentis in 2026, set aside £2.3m for redress, according to its 2025 results filed at Companies House. The provision includes £277,000 from its subsidiary Hawksmoor Investment Management, which was revealed in a separate filing.

Argentis stated in its annual results: “A client redress provision (including associated costs) has been recognised in respect of certain historic client fee arrangements where management has identified that amounts may be repayable.

“The provision represents management’s best estimate of the expected settlement amount at the reporting date.”

Argentis’ net profit dropped 84% to £1.3m, down from £8.5m in 2024. It absorbed a total of £5.5m in exceptional charges, including £1.7m for an ‘IT and transformation’ project and £1m in restructuring and additional regulatory costs.

Hawksmoor’s filings showed administrative costs jumped by £1.7m over the year to £15.8m. It recorded an annual loss of £100,000, reversing the £1.6m profit in the previous year.

Argentis’ top-line revenue increased by 1.3% to £58.5m over the year. Financial planning revenue rose 1.4% to £36.2m, while investment management income increased 1% to £22.3m, reports Citywire.

Andrew Westenberger unified the management boards of Argentis and investment manager Hawksmoor in April 2025.

The results come after Shackleton announced it was selling Hawksmoor’s £1.9bn funds business, including its model portfolio service (MPS) arm, to Liontrust for up to £10m. It will retain ownership of the wealth business, which controls around £2bn in assets.