Private equity backed MKC Wealth has purchased London-based financial planning firm Wealth for Women for an undisclosed sum.
MKC Wealth was launched in 2021 by former Quilter executives Nigel Speirs and Dominic Rose and is backed by private equity firm Cabot Square Capital.
Founded by Mary Waring, Wealth for Women specialises in offering financial advice to women going through divorce.
MKC Wealth has said the firm will sit under its new brand MKC Wealth for Women which it plans to grow and will also train financial planners in this area.
According to MKC Wealth, Waring will be leaving the financial advice sector to concentrate on her financial coaching role to continue helping women going through divorce.
However, she will support the training of MKC financial planners and will refer clients she works with as coach to MKC Wealth for financial advice.
Waring said: “When I decided to sell my financial planning business, I wanted to find a buyer that would build on the personal service that I have provided over many years, focus on goals-based planning and more importantly who understood how to work with people who were vulnerable.
“I have always treated the majority of my clients as having temporary vulnerabilities due to being going through the divorce process.
"Not all financial planners know how to deal with vulnerability, it can be complex and requires a specific set of softer skills to manage. When I met the team at MKC, I knew we shared the same values and duty of care to our clients and was confident they would be the right custodians for my clients going forward.”
Chief executive of MKC Wealth, Dominic Rose said financial planning for women was critical and differed from mainstream advice.
He added: “Acquiring Wealth for Women gives us a greater insight into this important area. We will look to build on the work that Waring has been doing to empower women in the arena of financial planning.”
In December 2023, MKC Wealth bought Buxton-based Crescent Independent and the client base of Bury-based IFA Christine Brearley, both for undisclosed sums.
alina.khan@ft.com
