Kreston Reeves Financial Planning, part of the Craven Street Wealth group, has bought Canterbury-based advice firm Tarvos Wealth for an undisclosed amount.
The acquisition will bring the group’s assets under advice to £1.15bn and grows its financial planners to 18.
Tarvos’s managing director, Simon Ludden, gave notice of his retirement two years ago and has since introduced his clients to other financial planners in the firm.
The remaining staff will stay with the business and will continue to be based out of their Canterbury office.
Tarvos will merge into the Craven Street Wealth group over time, the company said in a statement today (March 25).
Tom Barnett, managing director of Craven Street Wealth and Kreston Reeves Financial Planning said: “We are delighted to have completed this acquisition at an important stage of our plans for development after detailed discussions over an extensive period of time.”
He added that not only does the combined business provide additional scale which the group intends to embrace for the enhancement of services to clients, but also expands its advice team which operates with a broad range of skills and professionalism.
“We very much look forward to making announcements on our plans as they continue to develop.”
Ruth Dolan, director at Tarvos Wealth, said: “We see this as a natural fit with both companies aligning their culture and vision, to continue to provide a high standard of advice and service to clients.
“With both firms’ historic roots in the accountancy and legal sector, it gives us a fantastic opportunity to continue to build a trusted service upon which other professionals can rely for their clients.”
Ludden added that the firms are a “perfect fit”.
“We are very excited about the possibilities that this brings for our staff and our clients and though I shall be looking forward to my retirement, part of me wishes that I could stay on to watch the company grow.”
Craven Street Wealth was launched in March 2021 following the acquisitions of Kreston Reeves and Christchurch Investment Management.
It is the wealth management business of Craven Street Capital.
Funding for the transactions is being provided by challenger bank Shawbrook.