Walker Crips buys HNW adviser

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Walker Crips buys HNW adviser
Credit: Jason Alden/Bloomberg

Walker Crips has bought the client book of financial adviser MA Heap in another move to strengthen its financial advice arm.

The financial group announced yesterday (October 28) it had acquired the clients of Lighthouse appointed representative MA Heap, adding the bank of high net worth clients to its wealth management arm.

Mark Heap, the current owner of MA Heap, will also transfer across to the company as a consultant in a bid to create a smooth transition of clients to Walker Crips.

Dominic Martin, managing director at Walker Crips Wealth Management, said: “Mark Heap has been advising clients for 30 years, and he has tremendous experience and expertise in the area of financial advice. 

“We have had a longstanding relationship with Mark and we are pleased that he has put his trust in Walker Crips, to be the home for his clients, and to continue delivering excellent service to them.”

Mr Heap will also be involved in business development and helping to enlarge the client base for Walker Crips.

Mr Martin added that the acquisition “further signalled” the company’s intent to continue to expand and grow.

It follows the recent news that Walker Crips had hired James Bonarius, an experienced financial planner, to strengthen the firm’s wealth management division.

Mr Bonarius joined from Tilney and brought a “proven track record for success and establishing lasting client relationships”.

Mr Martin said: “We welcome James and believe that he will be a strong addition to our wealth management team. 

“He brings additional breadth of knowledge and experience to our advisory offering and forms part of our continued growth in this space.”

Mergers and acquisitions has been a growing trend in the advice space over the past few years, as smaller firms and sole traders struggle with growing regulatory costs and large swathes of the industry look to retire.

The trend is tipped to accelerate amid and post the coronavirus crisis.

SimplyBiz’s recently launched buy-out scheme, Horizon, saw 100 firms register to sell within a few months of launching.

One advice firm director told FTAdviser he is now approached up to four times a month with offers to buy his business.


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