IFA group Independent Wealth Planners (IWP) has bought Hampshire-based advice firm Encompass Financial Management for an undisclosed sum.
Formed in 2004, Encompass is an independent financial planning business comprising four directors – Mark Courage, Sean McGonagle, Sue Drake and Wayne Phillips. Encompass will join IWP’s Hampshire regional firm Murdoch Asset Management.
The acquisition adds £167m ($230m, €194m) in assets under management, as well as 458 clients.
Chris Birch, chief executive at Murdoch, said: “We’re delighted to welcome Encompass to the IWP family – the acquisition strengthens our reach in the southern part of Hampshire. We’re really looking forward to start working with the team.”
The most recent acquisition made by IWP was in June 2021 when it bought Omnium Capital for an undisclosed sum.