Loyal North has purchased Surrey-based Whitman Fry Wealth Management Ltd for an undisclosed sum.
Based in New Malden, Whitman Fry will join Loyal North’s regional hub, Gerald Pepper Financial Management Ltd.
The deal has brought £60mn of client funds to the group with Whitman Fry shareholder and adviser, Alison Fry joining GPFM as a senior financial planner.
Fellow shareholders Alex and Sara Whitman will oversee the transition and handover of clients prior to retiring from the industry.
Fry and Whitman said: “Our business has prided itself on providing excellent financial planning, putting our clients at the heart of what we do and that is why the team at GPFM, and the personalised and local approach of Loyal North made them the perfect choice and cultural fit for the future of our clients.”
Debbie Dry, group acquisition director at Loyal North, added: “It was important that the shareholders of Whitman Fry found the best home for their clients and with an existing local firm of scale in the same region, we believed that we were the perfect fit.”
Loyal North now manages £1.9bn in client wealth nationally and has a strong acquisition pipeline.
Last year (November 2023), the group snapped up financial planning firm Sovereign Financial Services, boosting the company’s existing presence in Scotland.
Prior to this, it bought Kent-based financial advisory firm Paul Wallis Financial Solutions, adding a total of £40mn of client funds to the group.
alina.khan@ft.com
