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!.
Thriving SME Contracting and Consultancy Business. The business was established in 2015 by our client. The business is only now being offered to the market due to our clients` desire for the business to take its next step forward.
LEASEHOLD
This highly established SRA Partnership firm located in Wales is seeking a sale or merger due to the retirement of its Senior Partner. The firm operates from two offices and has a turnover of around £500k.
LEASEHOLD
SRA Partnership firm located in a thriving market town in Wales is available for sale or merger. With one partner retiring and the other moving onto other business interests, this is an excellent opportunity to acquire or merge with a well-establishe...
LEASEHOLD
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.