Birmingham-based Elevation Wealth Management has purchased Wolverhampton-based IFA Thornton Claverley for an undisclosed sum.
Elevation Wealth Management is wholly owned by Elevation Financial Group which was formed in 2011 by IFAs as a specialist national consolidator.
It delivers bespoke solutions for IFA firms looking to sell their businesses either now or in the near future.
Thornton Claverley is an IFA practice headed up by owner Chris Thornton and will boost Elevation’s assets under management to more than £500mn.
This is Elevation’s 13th acquisition and has allowed the firm to open an office in the Wolverhampton area.
Tony Smith, managing director of Elevation Wealth Management, said: “I am delighted Elevation has been able to bring such a quality practice into the group as Thornton Claverley - and it shows the appetite remains for practitioners to trust the future of their practice with IFAs of a similar background and values ."
“Elevation looks to provide a turn key solution for IFAs looking to retire supported by its IFA academy, which invests in a long term plan to develop young people through each facet of the advice and service process, whilst gaining formal qualification.
“The end result is designed to yield staff who at a young age ,are very capable of carrying client relationships on into the future and being a critical bridge with the next family generations.”
Elevation recently bought South East-based Innovate Financial Solutions, Derby-based Cedar Wealth, Warwick-based Pendra House and East Midlands-based Leefe & Co for undisclosed sums.
alina.khan@ft.com
