Independent Wealth Planners (IWP) has acquired Yorkshire-based financial planning firm Acuity Wealth Management (AWM) for an undisclosed sum.

The deal brings additional 228 clients to IWP and boosts its assets under administration by £85m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

AWM, which is led by Janet Comrie and daughter Sarah Dougal, also adds four administrative staff and a paraplanner to the company.

As part of the acquisition, IWP is setting up a direct-to-consumer channel in which AWM becomes the founding representative.

Dubbed IWP Advisory Services, the new business line will provide remote financial advice to customers who are unable to travel to their regional office or prefers virtual advice.

Commenting on the development, Comrie said: “By partnering with IWP we can give our clients the best of both worlds. The adviser to client relationship is built on a mutual trust, and so a local and personalised service proves invaluable.

“The acquisition means the close-knit relationships we’ve fostered with our clients can be complemented by the scale and resource of IWP whose centralised support will free up more time for us to focus on helping our clients achieve their financial goals.”

The latest deal is part of IWP’s ongoing consolidation strategy. Last month, IWP expanded its Hampshire presence with the acquisition of Southampton-based Encompass Financial Management.

It succeeded the company’s acquisitions of Professional Wealth Management and Edinburgh-based wealth management firm, Sutherland Independent earlier this year.

Last December, the company purchased financial planning firm Donald Wealth Management, following a number of deals.

It included the purchase of Hunter Hammond Daniel Associates, Beyond Financial, Carnelian Capital Management, and Richmond House Wealth Management, among others.