London and Weybridge-based HFMC Wealth has acquired Aspinalls Group for an undisclosed sum.
The deal will add around £1m ($1.31m, €1.18m) of annual recurring revenue and over £130m in assets under management to HFMC Wealth.
All of Aspinalls’ client-facing staff will join the firm.
Madelaine Bacon will join the senior management team and executive chairman David Aspinall will continue to oversee a number of key client relationships.
Aspinalls advises over 100 families, many of whom have been clients for nearly four decades.
More business on the horizon
Jeremy Hoyland, chief executive at HFMC Wealth, said: “As we continue our growth strategy, we are pursuing other potential acquisitions with like-minded wealth and financial planning firms and expect further deals to be agreed during the next year.
“We are building a financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client-focused business whilst providing the range of services normally associated with a private bank.”
HFMC Wealth has over £1.4bn of assets under advice and management and offers both advisory and discretionary managed services.
The advice team comprises 21 financial planners.
