British consolidator Independent Wealth Planners (IWP) is expanding its footprint in Lancashire with the purchase of Southport-based chartered financial planning business Premier Wealth Management.

The deal, whose financial terms were not disclosed, marks IWP’s third deal this month after the takeover of Alex M Grant and Custodian Wealth Management.

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Founded in 2002, Premier provides retirement and investment advice to high-net-worth (HNW) individuals.

Led by managing director and chartered financial planner Adrian Shandley, the Premier team comprises four advisers, two paraplanners, and six administration staff.

The firm adds £260m in assets to IWP, taking its total assets under administration (AuA) to £6bn.

Under the terms of the deal, the Premier team will join IWP’s Lancashire regional firm Prosper Wealth Management.

Prosper, led by CEO David Barton, was purchased by IWP in February this year.

Commenting on the deal Barton added: “We are delighted to have Adrian and the rest of the Premier team onboard.

“The addition of Premier expands our coverage in Lancashire, providing more consumers with access to IWP’s exceptional, independent financial planning services.”

Shandley added: “IWP presented a big attraction to us.

“Not only has it invested in our business up front, but also has not made any wholesale or disruptive changes to our business model, ensuring a smooth transition for our clients.”

Last month, IWP acquired Yorkshire-based financial planning firm Acuity Wealth Management (AWM), boosting its assets under administration by £85m.

In September, Last month, IWP expanded its Hampshire presence with the acquisition of Southampton-based Encompass Financial Management.

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