Wealth manager MKC Wealth has acquired Buxton-based Crescent Independent and the client base of IFA Christine Brearley for undisclosed sums.
Crescent Independent is a former appointed representative of the Tenet Group network and has £70m of assets under advice.
Founders of the firm Steve Penn and David Brookes will join MKC Wealth on a consultancy basis for an initial six months to support the handover.
Recently retired Brearley was an authorised representative of PI Financial and adds a further £20m if assets under advice.
To read more on this topic, visit: Wealth manager merges with IFA firm
Dominic Rose, chief executive of MKC Wealth, said: “We have a fairly simple philosophy; our clients trust us to look after their life savings and to plan for their (and their family’s) future.
“This is a massive responsibility that everyone in our team fully appreciates and passionately cares about. Similarly, business owners trust us to look after their clients whom they have supported over many years. Both of these transactions will facilitate the retirements for Steve, David and Christine whilst ensuring the clients are well cared for.”
Brearley added: “I asked Brian Hill of the Exit Partnership, who specialises in selling the firms of retiring advisers. I wanted the best possible fit for my clients and not just sell out to a major national firm, which would have been all too easy. Quite the opposite.
“Brian introduced me to the team at MKC Wealth for a smooth and seamless transition. I was so impressed that in addition to selling the business, my husband and I have transferred the management of our personal financial affairs to MKC Wealth and without exception all of the clients have been really pleased with the way the transition has been handled.”
