Consolidator Independent Wealth Planners UK (IWP UK) has taken over Solihull-based Beyond Financial, adding £58m in assets under advice.
The acquisition of Beyond Financial, founded in 2007, bolsters IWP UK’s footprint in West Midlands.
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Transaction details
Financial terms of the transaction were not disclosed.
The deal is the consolidator’s eighth purchase this year and its thirteenth in total.
The newly acquired entity will become part of IWP UK’s regional hub, Alexander Grace
Alexander Grace CEO Neil Padget said: “We are thrilled to welcome Beyond Financial to the team at Alexander Grace and our wider IWP group.
“This acquisition represents a great first step in our plans for growth, building IWP’s presence and reputation in the West Midlands.”
Beyond Financial director Tony O’Driscoll will retain his role and continue to lead the business.
O’Driscoll noted: “Our business is built on helping people achieve and maintain their desired lifestyle, so clients are always at the centre of everything we do.
“This is why Alexander Grace was such a good fit for us.”
Other acquisitions
The latest deal comes close on the heels of IWP UK’s purchase of Gilmour Hamilton Wealth Management.
Last month, IWP UK acquired Carnelian Capital Management.
This June, the consolidator bought Westinsure Webb Financial Services, Richmond House Wealth Management, and Clairville York Financial Advisers.
In February 2020, IWP UK gained its first Scottish presence with the takeover of AGL Wealth Management.
In the same month, IWP UK also snapped up Prosper Wealth Management.
IWP UK
The consolidator offers a range of operational and services to IFAs.
These services include compliance, IT, investment research, marketing, recruitment as well as training.
IWP UK takes over local businesses while allowing local teams to handle the daily management of their businesses.
