Tue, 23 Aug 2022 | BUSINESS SALE
Financial planning and wealth management firm Finitor Wealth has completed a double acquisition, which it says takes its assets under administration (AUM) to more than £1.1 billion. The group has acquired Leamington Spa-based adviser firm Ascent Financial Consulting and Cumbria-headquartered Financial Management Bureau (FMB).
Ascent Financial Consulting comprises a three-person advisory and bring around £190 million in AUA. FMB, meanwhile, which is based in Kendal, brings eight advisors and over £250 million in AUA. Post-acquisition, both firms will retain a high degree of autonomy, with Finitor providing support to drive future growth at the businesses.
The acquisitions were supported by investment from private equity firm Rockpool Investments and Finitor has said that Rockpool’s financial backing will enable it to continue its expansion. Founded in 2018 by CEO Paul Stokes and CFO Richard Rhodes, Finitor has expanded rapidly in the highly fragmented wealth management market and reaching £1.1 billion in AUA represents the latest milestone in the firm’s growth.
Amid ongoing fragmentation in the UK’s wealth management sector, M&A activity in the industry is expected to remain strong for years to come, with much of it set to be driven by private equity investors like Rockpool.
Commenting on the acquisitions, Finitor CEO Paul Stokes 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.”
Read more about the growing wave of M&A activity in the UK's wealth management sector and the future prospects for dealmaking in the industry.
Find businesses for sale here.
If you are looking for an exit, we can help!.
An opportunity exists to purchase the business and assets of a general practice law firm operating in the South of England. The practice has a long established heritage and provides a range of legal services including Wills & Probate, Conveyancing, F...
The Company provides innovative kerbside to airspace consulting, modelling, and forecasting services, to help airports solve the most complex capacity and demand challenges. They assess the entire system including aircraft, passengers, baggage, trans...
Established over 6 years following a buy-out from a national firm by a partner and grown since by recommendation.
19
|
Apr
|
Building services consultancy moves to employee ownership | MBO/MBI
A building services consultancy in the North East has moved ...
19
|
Apr
|
US firm acquires Somerset employee management provider | BUSINESS SALE
An employee management services firm based in Somerset has b...
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
01
|
Sep
|
M&G completes acquisition of Royal London’s Ascentric | BUSINESS SALE
Investment management firm M&G has completed its acquisition...
28
|
May
|
M&G agrees deal to acquire Ascentric platform from Royal London | BUSINESS SALE
Asset manager M&G has completed the purchase of wealth manag...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.