IPS Capital LLP (IPS) the City-based investment and wealth management firm has completed the acquisition of Saffron Walden based Greenwood Financial Planning LLP (Greenwood).
The strategic acquisition bolsters IPS’s financial planning services, whilst IPS will enhance Greenwood’s investment management offering for their clients.
The acquisition boosts group assets under management to c£950m.
Mike Passfield and Richard Mumford will remain Partners of Greenwood with Mike becoming a Partner of IPS.
Jonathan Blain (pictured above), managing partner of IPS, said “we are delighted to have joined forces with Mike, Richard and the team. They have a solid, well managed business, providing great client outcomes.
“This is another step towards the next milestone of £1 billion AUM, delivering a professional well rounded service offering to our clients. We are proud that the firm remains 100% in the hands of the working partners with the culture that this engenders, allowing us to make selective transactions such as this and adopting the best from both sides”.
Mike Passfield (pictured left) said “We’ve got to know Jonathan and the team at IPS over a couple of years and have been impressed with their business and culture, putting client needs at the absolute centre of their business, in a similar way to us.
“Richard and I consider this an ideal fit and are really looking forward to working closely with them and continuing the growth of Greenwood”.
