ConsolidatorSep 21 2020

Consolidator continues buying spree with Sussex IFA

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Consolidator continues buying spree with Sussex IFA
ByRachel Mortimer

New-entrant consolidator Independent Wealth Planners has sealed its fourteenth acquisition in a deal which adds £200m in assets under advice to the business. 

The purchase of Sussex-based financial planning firm Hunter Hammond Daniel Associates also sees four advisers join the rapidly growing consolidator.

Since it came to market towards the end of last year IWP has been vocal about its ambitions to expand quickly through the acquisition of IFA firms, telling FTAdviser in April it had set its sights on managing £5bn of assets in the coming year

In pursuit of its growth plans the consolidator completed a string of deals this year in a spree undeterred by the challenges of the coronavirus pandemic and national lockdown. 

Paul Hammond, director at Hunter Hammond Daniel who will remain with the business alongside Sean Parker, said: "Over 20 years we have built a strong business and great client relationships.

"Those client relationships are central to our decision to join IWP, to secure the future growth of the business somewhere we know puts clients first.

"We are excited to be joining a national group that gives us access to branding, central support and resources essential for our future success."

Earlier this month IWP acquired Solihull-based Beyond Financial as it moved to bolster its office in the West Midlands. It followed two deals in June adding £320m assets under management to the business. 

IWP also has plans to grow organically, revealing earlier this year it was set to launch an adviser academy in 2021 in a move it hoped would eventually see 50 advisers graduate to join the business each year. 

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