Fri, 29 Mar 2024 | BUSINESS SALE
Wren Sterling, a national financial planning business, has completed its first acquisition of the year with a deal for Staffordshire firm TW Financial Planning. Newcastle-under-Lyme-based TW Financial Planning manages around £265 million for its clients, with three financial planners serving more than 750 households.
The firm will join Wren Sterling’s national network of offices, bolstering its presence in the West Midlands. Wren Sterling now has 13 offices that cover 11 locations across the UK and the company is seeking to expand its network further through additional acquisitions.
James Twining, Wren Sterling's Chief Executive, commented: "This deal ticks a lot of boxes for Wren Sterling. TW Financial Planning is a self-sustaining business borne out of close working relationships with professional introducers and has grown through client referrals and a strong local reputation.”
"Our investment in technology and our central resources, including our Investment Committee, will do some of the heavy lifting that comes with running an advice business and allow the team to focus on client work, which is what they do best.”
"The quality of the TW Financial Planning team, with some achieving chartered status, will further grow our overall standard of advice and I am looking forward to bringing their expertise to the rest of Wren Sterling."
TW Financial Planning director Chris Devey said that the company and Wren Sterling had very similar service propositions and that the group’s onboarding process had “been designed to minimise disruption to our clients and colleagues, which has always been our priority when looking for a firm to take our business to the next stage.”
Devey continued: "Retaining our staff and our links to Thompson Wright Chartered Accountants, plus the opportunity to benefit from Wren Sterling's scale, expertise, tools, technology and resources is a compelling offer and we believe this will only benefit us, and our clients."
Find out more about consolidation in the UK wealth management industry
With succession planning in place, this is a great opportunity to gain a presence in Scotland with qualified advisers and back-office support.
Opportunity to acquire a single adviser FA, this practitioner has 140 households so you will be managing profitable clients.
A highly aligned business with three providers mostly used means integration will be smooth, reducing the cost of the acquisition.
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