Mon, 23 Jun 2025 | BUSINESS SALE
Suttons Independent Financial Advisors, a financial planning and wealth management firm based in Sale, Greater Manchester, has expanded with the acquisition of a company based in Bolton. The acquisition of Whitewell Financial Planning, for an undisclosed sum, is Suttons’ third acquisition and was advised on by a team from the Manchester office of law firm Bermans.
Suttons was founded in 2006 by Harvey Sutton (pictured above, left, with Phil O'Connor, centre, and Ben Preston, right) and has grown to become a 20-strong firm with £240 million of client assets under management. The company is a chartered financial planning firm providing tax, wealth management, pensions and retirement planning advice to clients including entrepreneurs, business owners and professionals. Additional services include advice on mortgages, equity release, illness and life insurance and savings.
Founded in 2008 by Phil O’Connor, Whitewell provides financial planning, investment and retirement planning advice to business owners and directors, individuals, senior medics and other professionals. The company operates across the North West and beyond and has close to £40 million of client assets under management.
Post-sale, Phil O’Connor, a chartered financial planner and accredited independent financial adviser, will continue to work closely with Suttons, serving as the main point of contact for his clients. Suttons’ Managing Director Ben Preston said that O’Connor’s continued involvement will “ensure a smooth and seamless transition for every client”.
Preston described Whitewell as “a great fit for us”, saying the two firms " share the same commitment to delivering a first-class financial advice and wealth management service that makes a meaningful difference to the lives of our customers.”
According to Preston, the merger will mean that Whitewell’s clients gain access to a broader range of services and expertise, as well as the support of a larger team and the “ultramodern digital infrastructure” that underpins Suttons’ business.
Preston added that the firm would continue to seek suitable acquisitions to further drive its growth plans, saying: “We continue to seek opportunities to make further acquisitions of quality owner-managed businesses which are a good fit, while at the same time we are growing strongly organically by gaining new clients, many of whom come to us on the recommendation of our existing customer base.”
Phil O’Connor said that, despite interest from a number of parties, he felt that Suttons was “the right fit” for Whitewell, describing the buyer as "a well-established chartered firm with a strong local reputation and a commitment to personal advice.”
O’Connor continued: “I will be working alongside their advisers going forward and will continue to be my clients’ adviser and main point of contact. Suttons will handle the administration and support behind the scenes. For customers of Whitewell, all of their plans and arrangements will continue uninterrupted.”
Robin Hastings, Bermans Corporate Partner, said that the acquisition will help Suttons to “broaden their business offering and client base”, adding that the law firm was looking forward to working with the company in future as it continues its expansion strategy.
Read more about the ongoing wave of wealth management M&A:
Wealth management M&A boom continues amid changing dealmaking environment
90 per cent of IFAs and financial planners predict more M&A
A unique opportunity to acquire a directly authorised IFA firm in the South East with strong recurring revenue streams.
A well-established Independent Financial Advisory firm in the Midlands, managing £290m in funds under management, presents a unique investment opportunity for the right buyer.
An exciting opportunity to acquire a highly regarded independent financial advisory firm in the North-West, managing £100 million funds under management.
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