MWA Financial (MWA) has acquired London-based Sterling Financial Consultants and Cornwall-based The Financial Advice Centre (FAC) for undisclosed sums.
This is part of its continued ambition to build a national firm of independent financial advisers over the next three-to-five years. The deals are the first to be completed by MWA since it secured long-term funding from alternative finance provider ThinCats in March.
The transactions bring the number of MWA acquisitions in the last two years to five and takes MWA’s assets under advice to £450m ($561m, €524m) and adviser headcount above 20.
As part of the deal, Denise Wilkinson has joined MWA from Sterling Financial Consultants as a field compliance officer. MWA also welcomes Andrew Harvey and Ken Cook from FAC.
Campbell Banks, MWA Financial chief executive, said: “The acquisition of Sterling and FAC is another significant milestone for MWA as we begin to make use of the funds being made available to us through our partnership with ThinCats. With a number of other live acquisitions already in play our immediate aim is to continue to increase our footprint across the UK, taking adviser numbers to over 30 and assets under administration to above £1bn.”
MWA now includes offices in Hertfordshire, Hampshire, Essex, Oxfordshire, London, Cornwall and the Scottish Borders.