Financial advice and discretionary fund manager Lumin Wealth has acquired Essex-based firm The Big Picture Wealth Management for an undisclosed sum.
The purchase will add approximately £85m ($107.6m, €98.9m) of assets under management (AuM) to the Lumin Group.
Martin Cotter, managing director of the Lumin Group said: “We continue to look for similar firms who share our values to join the Lumin family. Our well-tested integration formula provides an attractive new home for advisers and their support staff, and we have a dedicated Integrations Manager who ensures a smooth transition for all parties.”
Ian Sedgwick, director at The Big Picture Wealth Management, added: “We are very pleased to be partnering with Lumin Wealth. It was important to ensure we found a firm with a shared emphasis on delivering high-quality financial advice, allied to a personalised approach that sees the client remain centre stage at all times.”
This is Lumin Wealth’s sixth acquisition since 2019 and comes a year after the purchase of Essex-based IFA firm Ashridge Financial Management for an undisclosed sum.