British wealth manager Brown Shipley has agreed to acquire The Roberts Partnership, a Manchester-based financial planning and wealth management firm, for an undisclosed sum.

Brown Shipley said that the acquisition is part of its “strategy to build and deliver a leading financial advice proposition for its clients” and will further enhance its “regional presence and its wealth planning service to clients”.

The deal will add £450m in funds under management and seven advisors to Brown Shipley’s portfolio.

The Roberts Partnership will become a subsidiary of Brown Shipley and will join its Manchester office following the completion of the deal, which is expected on 1 November 2016.

Brown Shipley CEO Ian Sackfield said: “I am pleased to announce today’s acquisition of The Roberts Partnership. Following on from our acquisition of Hampton Dean last year and KBL epb’s acquisition of Insinger de Beaufort, it further supports our growth plans, particularly in terms of enhancing our wealth planning proposition to meet the current and future needs of our clients.”

“The two businesses have natural synergies, in particular a shared emphasis on leading with advice for clients, so I am confident the new team will make an important contribution to Brown Shipley and its future success.”