Harwood Wealth Management has bought the assets of Berkshire-based retirement specialist advice firm Plan65.
Plan65, which has assets under influence of £42m, is currently owned by its founders, Keith Turner and Doug Rae, who both plan to retire follow completion.
Peter Mann, non-executive chairman of Harwood Wealth Management, said: "In line with our strategy to acquire IFA firms which share our values and culture, we are very pleased to have completed the asset acquisition from P65.
"Since its inception in 2011, Keith and Doug have built a successful business and we wish them well for their future. We look forward to continuing to provide P65's clients with continued expert advice and exceptional service."
As part of the deal Harwood will pay £1.56m, dependant on the performance of the assets it has bought, with an initial consideration of £810,068.
Plan65's assets will be integrated into Harwood's subsidiary, Compass Wealth Management Consultants, after the deal is completed.
Harwood, which is listed on the Aim, raised £10m from a share placing in April 2017 to fund further acquisitions.
Earlier this year the company reported assets under influence of £3.8bn, an 81 per cent increase on 2016 while revenue was up 123 per cent to £25.9m.
damian.fantato@ft.com
