Adviser Services Holdings Limited’s national advice business has bought two wealth management firms.
Lync Wealth Management, which was launched earlier this year, has purchased Friarsgate Financial Planning and Richard Armitage Wealth Management South West Limited, adding £200mn in assets under advice and 500 clients.
Chester-based Friarsgate was formed in 2019 after the merger of two local firms, Arrow Financial Services and D & G Independent.
Friarsgate is an appointed representative of ASHL’s network Sense, which sits alongside the national advice business.
Lync was formed in March with ASHL’s acquisitions of Sheffield-based Sheafmoor Money Management and Belfast-based North Financial Management.
Darren Booth, founder of Friarsgate Financial Planning said: “The ASHL group have been instrumental in our successful journey, and we are delighted to continue our partnership with the like-minded professionals within the organisation.
“The smooth transition from Sense network will ensure the continuity of service between our dedicated team and our valued clients”.
Richard Armitage, owner of Richard Armitage Wealth Management South West Limited, said: “I am pleased to be working again with advisers and senior management at ASHL, with whom I have strong relationships and indeed share the same values when it comes to looking after clients."
Michael Couzens, chief executive officer, ASHL said: “We are delighted to welcome another two quality firms to LYNC Wealth Management and continue building momentum within the business.
“Our philosophy will continue, which is steady growth focussing on quality firms and close relationships with people, including the end client.”
Couzens added that the company has a pipeline of similar opportunities.
sally.hickey@ft.com
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