Nottingham-headquartered Wren Sterling has purchased Glasgow-based advice firm Active Wealth Management Limited for an undisclosed sum.
At the same time, the IFA group has completed the acquisition of Leamington Spa-based HB&O Financial Services, a deal first announced in October 2022.
As part of the deals, Active Wealth Management Limited will join Wren Sterling’s Glasgow office and HB&O Financial Services will further expand Wren Sterling’s presence in the West Midlands.
The acquisitions have added 860 clients and £330m ($406m, €376m) in assets.
This follows Wren Sterling’s acquisitions of Knutsford-based advice firm Morfitt & Turnbull, Critchleys Financial Planning, and Cheshire-based IFA firm Mutual Financial Management and its discretionary fund manager arm MDFM.
James Twining, chief executive of Wren Sterling, said: “It is fantastic to welcome new clients to Wren Sterling together with the people that have served them so well in the past.
“Both these deals will enable us not only to enhance the offering we are able to bring to clients but also improve the overall DNA of the whole company as we join forces with our new colleagues, who share our entrepreneurial drive and client first culture.”
The Wren Sterling Group is backed by New York-based private equity business Lightyear Capital, following a secondary management buyout that took place in December 2021.
