Consolidator  

MWA Financial acquires Essex-based financial planner

MWA Financial acquires Essex-based financial planner

MWA Financial has acquired an Essex-based wealth management firm, taking its assets under influence to £380m and its adviser count to 19.

The consolidator has bought CHC Wealth Management from chartered accountancy firm Clemence Hoar Cummings.

CHC Wealth Management will retain its name, location and all staff members, while its director, Neil Manning, will become a principal wealth adviser at the firm. Former parent Clemence Hoar Cummings will become a strategic partner to MWA.

MWA Financial chief executive Campbell Banks said: “The acquisition of CHC Wealth Management is another significant milestone for MWA as we look to continue to increase our footprint across the UK.

"What is more, the strategic partnership we have put in place with Clemence Hoar Cummings as part of the deal will enable both businesses to significantly enhance their client propositions."

The deal follows the firm’s acquisition of Hampshire-based Prosperity Financial Advisors & Stockbrokers in March this year.

The group is aiming to build a “national firm” of independent financial advisers over the next three to five years.

It already owns Hertfordshire-based Everley Wealth Management.

MWA Financial executive chairman Ed Rosengarten said the firm set its stall out as an aggregator of high-quality regional IFAs.

“What we have bought is a first-class regional business with a high-quality offering and hugely impressive client list," he said.

“Our aim with each business we buy is to support the elements that have made them so successful to date while providing expertise and support from the group to help them develop and grow further.”

sally.hickey@ft.com