UK-based Advanta Solutions has bought Fulham-based Genesis Financial Planning for an undisclosed sum.
This is Advanta’s fourth acquisition of the year and adds a further £150m ($169.1m, €173.4m) assets under management to the group.
Genesis Financial Planning was established in 2008 and has been directly regulated since 2013. It is the Advanta’s first acquisition in London.
Adam Horn, Genesis owner and director, said: “Having built up a base of great clients over the past 30 years it was important for me to find the right company to merge with.
“This process was made much easier knowing there is so much cultural synergy between our two companies sharing the same values, professionalism and client service ethos. Advanta will provide the resources to develop and enhance the proposition to our clients”.
The deal comes days after the firm announced three acquisitions in Scotland and opened an office in Dundee.
Advanta is backed by Beech Tree Private Equity, which provides funding for the business to pursue “a multiple acquisition strategy”.
With current and soon to be announced acquisitions, Advanta said it is on track to have “completed seven strategic acquisitions this year”.
Craig Webster, chief executive of Advanta, added: “We are delighted that Genesis has decided to become part of the Advanta team and that Adam, his clients, and staff are joining us. Adam has built a fantastic reputation with his clients and we look forward to working with him for the long term on the next phase of his journey.”
“Our strategy of growing a financial planning and wealth management business fit for the future and focused on the needs of multiple generations of clients makes Genesis an ideal fit for Advanta. As a Chartered firm, continually raising the standards of advice and service is central to creating a professional environment for our clients.”
With offices in London, Glasgow, Esher and Dundee, the Advanta group of companies offer financial planning services to its clients across the UK through Advanta Wealth, Advanta Mortgages and Advanta Risk.