Independent Wealth Planners UK (IWP) has acquired financial planning firm Hunter Hammond Daniel Associates (HHDA).
HHDA is headquartered in Hove, Sussex, and has a team of four advisers, as well as paraplanners and support staff.
It has around £200m ($257m, €218m) in AUA and will represent IWP’s first office in the area.
Current directors Paul Hammond and Sean Parker will stay on to lead and grow the business.
David Inglesfield, chief executive of IWP, said: “As part of IWP, they can continue to focus the HHDA team on providing excellent client service.
“We look forward to providing the infrastructure and resources that will continue both HHDA and IWP’s growth throughout Sussex.”
Recent activity
This is the firm’s 14th M&A deal since its inception.
IWP recently bought Beyond Financial, based in Solihull in the West Midlands.
The company was created to “grow, support and promote” local IFA firms, the advisory firm said.
It provides operational and support services, including compliance, IT, investment research, marketing, recruitment and training, allowing IFAs to spend more time with their clients.
IWP acquires local firms but leaves the day-to-day management in the hands of local teams, who may also retain a stake in the ownership of the business.
