Independent Wealth Planners UK (IWP) has bought Wigan-based financial planning firm Prosper Wealth Management for an undisclosed sum.
Prosper will become IWP’s main hub for the north west of England and likely retain its own brand.
Managing director David Barton will lead the team and any further acquisitions that IWP makes in the area.
The deal will bring an additional 486 clients to the IWP group, along with four advisers and six support staff.
The acquisition secures gross fee income of £1.35m ($1.76m, €1.59m) and an additional £170m in funds under management, taking group FUM to over £1bn.
Fast growing
In November 2019, IWP opened for business with five financial planning ‘member firms’.
They include Alexander Grace, Kelsall Steele Investment Services, Murdoch Asset Management, Rixons Wealth Management and Bartholomew Hawkins, giving the business a presence across the UK.
At the time, IWP said it will look to establish a nationwide presence with about 50 offices, adding that it was in “active discussions” with over 20 regional IFA firms.
