VZ is taking a 50.1% stake in Lumin with the aim of acquiring the remaining shares in five years. Credit: Henry Be on Unsplash.

Swiss financial service company VZ Group has acquired a stake in London-based advisory firm Lumin Wealth, making its entry into the UK market.

VZ said it is taking a 50.1% stake in Lumin with the aim of acquiring the remaining shares in five years. Financial terms of the deal have not been shared by the company.

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Founded in 2010, Lumin Wealth offers fee-based independent advice and asset management services. The firm primarily operates in the North London area and has a team of around 40 experts.

Lumin Wealth’s first acquisition was Bedfordshire-based Hyperion Financial Planners. The deal, announced last April, added £85m in assets to Lumin Wealth.

Earlier this year, the firm bought Everett MacLeod, marking its second acquisition.

According to VZ, the deal will not have a significant impact on its revenues and profit.

VZ Group CEO Matthias Reinhart called the the partnership an ideal springboard to enter the British market.

Reinhart said: “We have come to know Lumin as a competent and trustworthy provider who, like us, focuses on transparency and professionalism. I am convinced that all stakeholders will benefit from this cooperation.”

Commenting on the deal, Lumin managing director Martin Cotter said: “We couldn’t ask for a better partner than VZ Group.

“Their track record is impressive, and their long-term focus combined with their financial strength are a great opportunity for us. Together we can serve our clients even better and also bring additional IFAs on board.”

VZ Group’s core business includes asset management, pension and estate planning for individuals as well as insurance and pension fund management for companies.

The Zug-headquartered company has 34 branch offices throughout Switzerland and Germany.