Midlands-based IFA Newell Palmer, has bought a Northampton firm for an undisclosed amount.
Lane Wealth Management will bring £100m of funds under management and 150 active clients to Newell Palmer.
The acquisition increases Newell Palmer’s total funds under management to £1.35bn.
Kevin Homfray, finance director at Newell Palmer said: “I am delighted that we have been able to complete the largest acquisition in our company’s history.
“Newell Palmer are confident that we can achieve and surpass our acquisition goals and increase our funds under management in excess of £2bn during 2018/19 via a combination of organic growth and acquisitions.”
Lane Wealth’s clients will be serviced by Newell Palmer’s Bromsgrove office.
The deal came about in part due to the planned retirement of Edwin Lane, principal of Lane Wealth Management.
Mr Lane said: “After an exhaustive search to find a larger partner which will continue offering our clients a very high level of service, we are delighted to have found and completed the deal with Newell Palmer.”
