Walker Crips has announced the £4.2m acquisition of Barker Poland Asset Management.
Barker Poland provides investment and wealth management services and has £229m under management, of which £192m was discretionary-managed.
The deal will mean Walker Crips’s assets under management will increase by 12 per cent to £2bn.
Rodney FitzGerald, chief executive of Walker Crips, said: “This is an important step in our continuing quest for growth, taking our AUM and administration to £3.5bn from £1.4bn just three years ago as well as increasing the capacity of our London stronghold alongside our ongoing regional expansion.
“Barker Poland’s business is a complementary bolt-on to our existing offering which, with the combination of our similar investment styles and culture, will facilitate a seamless enhancement for their clients.”
Walker Crips will be taking on a team of five advisers, including managing director Geoff Wright and the founder of the business, Pat Barker, who will continue as chairman of Barker Poland.
In June last year Walker Crips Group recorded a 28 per cent increase in its discretionary and advisory assets under management to £1.37bn, compared with £1.07bn in June the previous year.
Three years ago the business embarked on a strategic overhaul to turn it from a traditional private client stockbroker to a full service investment and wealth management group.