Continuing its acquisition spree, consolidator Independent Wealth Planners UK (IWP UK) has snapped up Hove, Sussex-based Hunter Hammond Daniel Associates (HHDA) for an undisclosed sum.
HHDA transaction details
The deal establishes IWP UK’s first Sussex office and adds around £200m in AUA to its books.
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Referring to HHDA, IWP UK CEO David Inglesfield said: “As part of IWP, they can continue to focus the HHDA team on providing excellent client service.
“We look forward to providing the infrastructure and resources that will continue both HHDA and IWP’s growth throughout Sussex.”
Financial planning firm HHDA has four advisers along with paraplanners and support staff.
Its directors Paul Hammond and Sean Parker will remain with the business.
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By GlobalDataHammond noted: “Over 20 years we have built a strong business and great client relationships.
“Those client relationships are central to our decision to join IWP, to secure the future growth of the business somewhere we know puts clients first.”
IWP offers a range of operational and support services to IFAs.
These services are investment research, compliance, IT, marketing, recruitment as well as training.
Other deals
The deal is the 14th acquisition by IWP UK since its launch and its ninth acquisition in 2020.
Recently, the firm acquired Beyond Financial and Gilmour Hamilton Wealth Management.
Last month, IWP UK took over Carnelian Capital Management.
In February this year, IWP UK gained its first Scottish presence with the purchase of AGL Wealth Management.
This year, the consolidator also acquired Westinsure Webb Financial Services, Richmond House Wealth Management, Clairville York Financial Advisers, and Prosper Wealth Management.
