UK-based Independent Wealth Planners (IWP) has bought Cambridgeshire-based IFA firm Holistic Financial Leadership (HFL) for an undisclosed sum.
Brenda Santimano and Patricia Hope established HFL in 2014 and ran the business together as directors. The company has £252.45m ($304.8m, €298.6m) of assets under advice and an 18-strong team, including five financial advisers and four client relationship managers.
Following the deal, Santimano has been appointed chief executive of HFL with the support of Hope, who will continue in her role as a director of the business. All staff will remain in post.
Santimano said: “Over the last eight years, at HFL we have built our business to take a truly independent holistic approach to financial advice. We believe that this is integral to all areas of financial decisions and focus on building long-term relationships with our clients. Providing financial leadership in all areas from corporate care services, savings, investment portfolios and mortgages, to retirement, estate and business continuity planning is key.
“As a female-led advisory firm, I am proud to say Holistic Financial Leadership is passionate about diversity, supporting women’s leadership and enterprise. Now with the backing of IWP, I believe we have an exciting opportunity to continue to grow and develop our proposition to reach new clients across the UK in whatever sector.”
The HFL deal is the company’s first of the year. This comes after several years of IWP being one of the main players in the UK advice M&A market since its launch in 2019.
It completed its 30th deal in December 2021 with the purchase of Throgmorton Wealth Management for an undisclosed sum.
But the deals have slowed since founder David Inglesfield stepped down as chief executive of IWP in January 2022.
He was replaced by Rob Allen as group chief executive. Inglesfield is currently chair of IWP Investments, the group’s acquisitions company.