Cabot Square Capital backed MKC Wealth has acquired Stockport-based IFA Warr & Co Independent Financial Advisers and Urmston-based Halstead Independent Financial Management for undisclosed sums.
Jeff Crewdson and Steve Prosser initially joined Warr & Co Chartered Accountants as in-house financial advisers. In 2012 they set up a separate business, Warr & Co Independent Financial Advisers.
Crewdson will retire after a shorthand-over period, while Prosser has joined MKC Wealth along with two support colleagues, based at its Stockport office. The deal brings 140 households with £70m of assets under advice (AUA).
Halstead, which specialises in advising medical professionals, was established by current principal Mark Halstead’s father Stephen in 1973 and has some £90m AUA on behalf of 150 households.
Halstead has joined MKC Wealth, along with one other financial planner and one client support, who will be based at MKC’s existing Stockport office.
MKC Wealth CEO Dominic Rose said: ” As most people know; the key tests in situations like this are, firstly, will the clients benefit? And, secondly, do the cultures of the teams align?
“It was clear here that the answer to both is yes and I look forward to working together to build a business to be proud of and one that our clients love.”
Crewdson said: “When I first contemplated retirement we had many suitors, but my gut feeling was that we couldn’t work with any of them. Earlier this year we looked again and met Dom and his team.
“I immediately felt this was the right deal and both parties were keen to get it done! I tested my gut instinct by speaking to people who had already done deals with MKC Wealth to hear their views and they all confirmed they were really pleased with how it worked out for them and their clients. The process has been seamless and it is good news for clients and staff that the business remains in Stockport.”
Halstead said: “Of the 22 approaches we had over the last twelve months, only two potential acquirers made the shortlist. Not only does MKC Wealth share our ethos, it soon became evident that it has the expertise and resources to integrate our business and look after our staff and clients, and a proven track record of doing so. I am thrilled to have joined the MKC team and look forward to advising clients for many years to come.”
