Hoxton Capital Management, which as a group has offices in the UK, UAE, US, Australia, South Africa and Europe, has bought Devine Financial Management which operates in Southend and London.
This is its third acquisition of an adviser firm in the year date following two purchases in April.
Devine Financial Management works mostly in the pensions and investments arena, especially in income drawdown, relevant taxation advice and managing client funds within pension, ISA and general investment portfolios.
Thomas Maddison, acquisitions director at Hoxton Capital Management, said: “We are delighted to announce the acquisition of Devine Financial Management, marking our third strategic acquisition this year, and taking Hoxton to over £1.6bn of assets under management.
“The company has a reputation for delivering exemplary holistic financial advice, serving professional clients across the south-east. This acquisition significantly enhances our local presence throughout the south, providing a robust foothold for our continued growth.”
In a separate statement aimed at clients, Devine said: “After careful consideration and diligence, Tony (Antony Devine) has decided to embark on the journey of retirement and we at Devine Financial Management have decided to merge with the larger Hoxton Group.
“The Hoxton Group are committed to uphold the same level of professionalism, integrity, and personalised care that you have come to expect from Tony and the team at Devine Financial Management.
“From 22/5/24, The Hoxton Group officially purchased and now own Devine Financial Management. All clients will continue to be serviced through Devine Financial Management Ltd, and following a transitional period the company will be rebranded to align with the Hoxton Group.”
