IFA company buys UK advice firm

Deal adds £135m assets under management


Independent Wealth Planners (IWP) has made its 30th acquisition with the purchase of Throgmorton Wealth Management for an undisclosed sum.

Based in East Anglia, Lincolnshire and the East Midlands, Throgmorton has £135m ($179m, €159m) assets under management and 500 clients, providing financial planning, wealth management and mortgage services to individuals, companies and trusts.

It was founded in 2003 by Jason Cross and Chris Bayfield, with David Guntrip joining the management team in 2016 following the acquisition of Holmes Investments.

Following the deal, Cross will remain as chief executive of the firm and Bayfield and Guntrip as directors along with all other staff including four financial advisers.

50 deals by 2025

David Inglesfield, chief executive at IWP, said: “Our goal on forming IWP was to build the UK’s best financial advice and wealth management service.

“Reaching our 30th acquisition less than three years after our inception is a significant milestone and puts us well on track to reach our target of 50 firms by 2025.

“We believe the UK has some truly excellent independent financial advice firms, and with the backing of IWP, we can replicate the expertise throughout to deliver a consistent, best of breed service to many more individuals and businesses across the country.”

IWP most recently bought Southport advice company Premier Wealth Management for an undisclosed sum.

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