Independent Wealth Planners UK (IWP) has acquired financial planning firm Bishop Armstrong Financial Planning (BAFP) for an undisclosed sum.
BAFP is headquartered in Leamington Spa and led by Phil Bishop.
The firm has a total of £46m ($61.5m, €51.6m) in assets under administration and will join IWP’s Midlands hub Alexander Grace.
Neil Padget, chief executive of Alexander Grace, said: “As Phil joins the team, this marks our second acquisition as part of IWP with more in the pipeline as we continue to grow together, building IWP’s scale and reputation in our region.”
This is the firm’s 15th M&A deal since its inception.
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.