UK-based wealth management firm Lumin Wealth has bought Hyperion Financial Planners.
Hyperion is based in Bedfordshire and the deal marks the first acquisition for the London-based wealth manager.
Lumin has £400m ($523m, €466m) in assets under management with the deal adding £85m.
The acquisition is set to complete on 8 April 2019 and will see Hyperion’s director and adviser Michael Barnett, a senior paraplanner and another financial adviser move to London.
Lumin managing director Martin Cotter said that this could provide a blueprint for further acquisitions, as the firm had been looking for 18 months to make its first one.
However, Cotter added he wants to make sure the transition with Hyperion is smooth before looking to buy other companies.
