Unique Financial Planning has acquired Watford-based Gerrard Byrne Financial Service (GBFS) for an undisclosed amount, reported FTAdviser.

Established in 1992 by the late John Byrne, the acquired entity offers investment and wealth management services as well as financial planning for individuals and corporates.

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Following the transaction, Unique Financial will take over the business from Byrne’s widow, Caroline Byrne.

GBFS, which will be incorporated into Unique Financial in due course, will retain its current office and employees.

The deal increases Unique Financial’s assets under influence to £800m and expands its team to over 30 advisers across six locations in Oxfordshire, Surrey, Hampshire, Hertfordshire, and Devon.

Unique Financial CEO Stewart Williams said: “We are honoured to have been charged with looking after the legacy John Byrne worked so hard to build over the last 30 years. The firm’s long-standing bank of clients and talented team speaks for itself.

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“This acquisition is a significant development for Unique Financial as it brings us one step closer to achieving our long-term growth ambitions and allows us to expand our footprint into the Hertfordshire region.

“We look forward to working with our new colleagues to keep driving the business forward and finding new opportunities to enhance our proposition.”

Swindon-based Unique Financial set up a wealth management division last year to bolster its customer base to include high-net-worth clients and expand its offerings.

The launch followed the company’s merger with a part of wealth management firm Bright Blue Wealth in December 2020.