Financial planning and wealth management group Finitor Wealth has acquired advice firms Ascent Financial Consulting and Financial Management Bureau (FMB) for an undisclosed sum.
This comes just as Finitor Wealth received an undisclosed investment from private equity firm Rockpool Investments.
FMB is a second-generation family business with eight advisers in Kendal, Cumbria, with more than £250m ($295.1m, €294.9m) assets under advice. Ascent Financial Consulting is a three-adviser firm based out of Leamington Spa, and will bring £190m of AuA.
The acquisitions have pushed Finitor Wealth’s AuA over £1.1bn.
Paul Stokes, chief executive at Finitor, said: “Finitor Wealth are delighted to have raised investment with Rockpool and this investment has allowed us to grow through the exciting addition of two high quality firms, Ascent Financial Consulting and FMB. We look forward to working with the teams at FMB & Ascent as they continue on their respective journeys.”
The deals were brokered by M&A consultancy firm Gunner & Co.
