IFA consolidator Independent Wealth Planners has bought its 30th advice firm, putting it “well on track” to acquire 50 firms by 2025, according to its chief executive.
Throgmorton Wealth Management brings £135m of assets under management and 500 clients to IWP, alongside four financial advisers who specialise in financial planning, wealth management and mortgage services to individuals, companies and trusts.
Jason Cross, who founded the firm in 2003, will remain its chief executive following the deal. Fellow founder Chris Bayfield will also remain a director, along with David Guntrip, who joined the management team in 2016 following Throgmorton’s acquisition of Holmes Investments.
“Over nearly two decades, we have established ourselves as one of East Anglia’s leading independent financial advisers and, with the backing of IWP, we look forward to continuing to grow our presence and take excellent financial advice to more clients across the East Midlands,” said Cross.
Since launching in 2019, advice consolidator IWP has acquired 30 IFA firms across the UK, growing a physical footprint of 14 regional offices.
Total assets under management currently stand at more than £6bn, whilst its adviser count has reached 120, alongside 400 group staff members.
“Our goal in forming IWP was to build the UK’s best financial advice and wealth management service,” said David Inglesfield, chief executive at IWP.
“Reaching our 30th acquisition less than three years after our inception is a significant milestone and puts us well on track to reach our target of 50 firms by 2025.
“We believe the UK has some truly excellent independent financial advice firms, and with the backing of IWP, we can replicate the expertise throughout to deliver a consistent, best of breed service to many more individuals and businesses across the country.”
Last month, IWP bought three firms. These included Southport-based chartered financial planning business Premier Wealth Management, Scottish IFA Alex M Grant, and Surrey-based Custodian Wealth Management.