Tenet Group has expanded its financial advice business after buying Leeds-based Astute Financial Advisers for an undisclosed sum.
The firm will continue to trade under its own brand as a subsidiary of Tenet&You and the deal grows Tenet’s IFA operation in the north of England.
Astute’s directors, Chris Hawkins and Marshall Bickler, will remain as advisers to help the ongoing development of the business.
The wealth company was a member of Tenet’s network business, Tenet Network Services, and the sale has been made as part of the directors’ succession planning.
Helen Ball, managing director of Tenet&You, said: “This acquisition offered a great opportunity to grow our business by adding two quality advisers to our team as well as a further £100m ($139m, €118m) plus of assets under management.”
Tenet rebranded its in-house advice business in 2020, changing its name to Tenet&You from Aspire.