Worcestershire-based Newell Palmer has completed its 36th acquisition with the purchase of Cheshire-based adviser Vale Financial Services, for an undisclosed sum.
The firm has been providing advice to clients in Cheshire and surrounding counties for more than 16 years and the deal brings an additional £9m of funds under management and 70 clients to Newell Palmer.
It is the third acquisition this year, following the recent purchase of Stephen Dagnall Financial Management, also based in Cheshire, back in April.
In March, the adviser firm acquired Oxfordshire-based Jenner Financial Management, as part of its parent company’s growth strategy.
The group has now more than quadrupled its funds under management in the last five years, growing through acquisition and referrals, and working with Ortus Group to increase funds to £1bn within the next three years.
Acquisitions to-date have ranged between £30,000 and £2m in consideration, with the ethos being “no deal is too big or too small”, according to a statement.
Newell Palmer, financial director Kevin Homfray explained that acquisitions form an integral part of the growth strategy for this year and beyond.
Karen Waddington, principal of the acquired company, added: “I am confident that my clients will be impressed with the high quality service they will receive from a larger company equipped to handle their needs.”
peter.walker@ft.com
