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UK wealth manager makes second acquisition

By Robbie Lawther, 7 Jan 20

Firm says it will continue to pursue more deals in 2020 and is already being approached

Lumin Wealth Management has acquired London-based IFA firm Everett MacLeod (EM).

The financial terms of the deal were not disclosed.

EM has assets under management (AuM) in excess of £45m, which has increased Lumin’s AuM to £520m ($682m, €612m).

Mike MacLeod, managing director, will stay on with the firm to continue to provide continuity for clients.

Martin Cotter, managing director at Lumin Wealth, said: “We will continue to pursue further acquisitions in 2020 with businesses who align with our core principles and values and are already being approached by firms who are looking for a partnership which will allow their business to grow.”

This deal comes months after Lumin Wealth acquired Bedfordshire-based IFA Hyperion Financial Planning in April 2019, which was the first in the firm’s M&A pipeline.

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.