Multi-asset investment management firm IPS Capital has completed a merger with Prospect Wealth Management.
The combined business will have total assets under management of more than £600m ($779m, €721m).
It will offer services to both high and ultra-high net worth individuals, as well as mass affluent investors, across the UK and internationally.
The financial terms of the merger were not disclosed.
IPS provides discretionary and advisory asset management services to UK and international private clients, trusts and pension schemes.
Prospect, a branch of Raymond James Investment Services, was founded by chief executive Matthew Hunt in 2006.
Hunt will become a partner of IPS Capital and the rest of the team will join IPS’ investment offering.
“Our strategic partnership with Prospect enhances our collective investment expertise, which we believe will add value to both firms’ clients,” said Jonathan Blain, chief executive of IPS Capital.
“Our personalised service provides a clear point of differentiation from the larger, often listed wealth managers.”
Hunt added: “IPS and Prospect are completely complementary in terms of our respective investment capabilities, culture and distribution focus.
“We have known each other for around seven years, and this strategic partnership is great news for both client sets.”