MWA Financial has acquired Essex-based CHC Wealth Management from accountants Clemence Hoar Cummings for an undisclosed sum.
As part of the deal, CHC Wealth Management will retain its name, location, and staff, with Neil Manning becoming principal wealth adviser at the company.
Clemence Hoar Cummings will also become a strategic partner to MWA to provide services to their respective clients.
This follows the acquisition of Hampshire-based Prosperity Financial Advisors & Brokers in March 2021.
The two M&A deals have taken MWA’s assets under influence to £380m ($509m, €444m) and its adviser headcount to 19.
These acquisitions are part of the financial advisory firm’s plans to expand its UK footprint to create a national IFA business in the next three-to-five years.
Campbell Banks, MWA Financial chief executive, said: “The acquisition of CHC Wealth Management is another significant milestone for MWA as we look to continue to increase our footprint across the UK. What is more, the strategic partnership we have put in place with Clemence Hoar Cummings as part of the deal will enable both businesses to significantly enhance their client propositions.
“CHC Wealth Management clients will retain their usual high levels of service with the additional benefit of having access to the wider range of tools and scale MWA offer.”
Ed Rosengarten, executive chairman of MWA Financial, added: “We have set our stall out as an aggregator of high-quality regional IFAs and the acquisition CHC Wealth Management is another great example of that. What we have bought is a first-class regional business with a high-quality offering and hugely impressive client list.
“Our aim with each business we buy is to support the elements that have made them so successful to date while providing expertise and support from the group to help them develop and grow further.”