Independent wealth consolidator MKC Wealth has bought advice company Anthony, Bryant & Company (ABC) for an undisclosed sum.
London-based ABC was established by Tony Ahearne nearly 45 years ago and advises 126 households with £70m ($91m, €83m) of assets.
Aherne joins MKC Wealth in an ambassadorial role. He will conduct face-to-face meetings to ensure the effective handover of client relationships.
With over 27 years’ experience with ABC, Joanne Birch is joining MKC Wealth, providing the continuity of all back-office functions required to smooth the transition.
Dominic Rose, chief executive of MKC Wealth, said: “We are delighted that Tony has chosen MKC Wealth to advise his clients. We have known Tony for a while and share the same values – namely putting clients at the heart of our businesses. We will continue to acquire selectively where opportunities exist and there is a close cultural fit.
“People like Tony have built-up an immense trust with clients. Taking over these relationships is a significant responsibility. We want the clients to be delighted with our service and for them, thank Tony for a carefully planned and well delivered succession plan.
“We are ahead of our initial plans, now approaching £1bn of assets under advice and, excitingly, have delivered on our promise to all our staff to enable them all to become shareholders in the business we are building together.”
In October 2021, London-based IFA firm MKC Wealth was bought by former Quilter Private Client Advisers employees Rose and Nigel Speirs as part of a strategy to build a wealth management consolidator.
The firm is backed by investment company Cabot Square Capital.