Aventus is an established investment management subsidy of commercial and private law firm Rickerbys and has been running for 19 years.

This is European Wealth’s second acquisition this year.

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European Wealth, which is a relatively new player in the financial services sector, is steadily growing in strength under the leadership of its founder, Rod Gentry.

Gentry, an ex-Ashcourt Rowan chief executive, established European Wealth Management in November 2010 and in early 2011 European Wealth completed its first acquisition, that of financial planning group Matthews Smith.

Commenting on their new acquisition, Gentry said that as the group plans to expand its services it is trying to acquire successful businesses and their teams to increase the group’s presence as well as developing high levels of organic growth.

"The Aventus team [is] highly experienced with strong technical capabilities, solid systems and infrastructure and we are delighted that they will be joining us to further enhance services to our clients," he added.

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Anne Compton, managing partner of Rickerbys, said, "Joining forces with a business that shares such a similar ethos and culture was extremely important to us and our clients will now be able to benefit from the seamless integration of financial planning with their existing investment management."