Independent Wealth Planners UK (IWP) has acquired financial planning firm Donald Wealth Management for an undisclosed sum.
Donald Wealth Management is headquartered in Sutton Coldfield and led by Jamie Donald.
The firm has a total of £135m ($182m, €150m) in assets under administration and will join IWP’s Midlands hub Alexander Grace.
Neil Padget, chief executive of Alexander Grace, said: “I am delighted to have Donald Wealth Management join the Alexander Grace team. With decades of experience delivering for clients Jamie has built a great business and I am excited to work together, continuing to grow as part of Alexander Grace.”
Recent activity
This is the firm’s 16th M&A deal since its inception and 10th in 2020.
IWP recently acquired financial planning firm Bishop Armstrong Financial Planning.
The company was created to “grow, support and promote” local IFA firms, the advisory firm said.
It provides operational and support services, including compliance, IT, investment research, marketing, recruitment and training, allowing IFAs to spend more time with their clients.
IWP acquires local firms but leaves the day-to-day management in the hands of local teams, who may also retain a stake in the ownership of the business.
