Independent Wealth Planners (IWP) has acquired three independent financial planning firms for an undisclosed sum.
It has bought Aberdeenshire-based Buchanan & Associates, Moss and Roberts located in Norfolk, and Buckinghamshire-based Principal Financial Planning.
The deals boost IWP’s assets under management by around £400m ($551m, €470m), taking total assets administered under the IWP umbrella to almost £4bn, serviced by 80 financial advisers, with total group headcount now standing at 250 people.
The triple swoop takes the number of acquisitions to 22 since IWP’s formation just two years ago.
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Buchanan & Associates was established over 10 years ago with a team of eight. Andrew Buchanan will remain as director of the firm, continuing to lead the firm’s team of experienced paraplanners and administrators. Buchanan & Associates forms part of IWP’s Aberdeenshire office, continuing recent expansion in the area.
Directors and financial planners Michael Moss and Lloyd Johnson head up Norwich-based Moss and Roberts. Operating out of the Norfolk hub, the firm’s 10-person team strengthens IWP’s east Anglian presence.
Principle Financial Planning, based in High Wycombe, was formed in 2008 by current director, Colin Johns. The firm has around £125m in client assets.
David Inglesfield, chief executive at IWP, said: “These acquisitions extend our existing nationwide network and mark further progress in our ambition to build Britain’s best wealth planning business.
“Our pace of growth is testament to the robustness of our model, which allows like-minded IFA owners to come together and share the benefits of group scale while maintaining a high degree of continuity for their clients and staff.
“We are committed to independence and it is great to see so many independent firms choosing to continue their proud tradition of client advice and service with IWP.”
