IFA group makes second acquisition in a month

Having completed a PE-backed management buyout a year ago

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UK-based Wren Sterling has acquired Critchleys Financial Planning for an undisclosed sum.

The deal adds around 300 households and approximately £150m ($188m, €175m) of assets under management to the group.

The Critchleys team, led by principal financial planner Jason McGuigan, will become part of Wren Sterling and provide an Oxfordshire hub to complement its other eight locations across the UK

This is the second M&A deal the IFA firm has done in 2022, having acquired Mutual Financial Management last month.

Wren Sterling undertook a management buy-out in July 2021, backed by US private equity firm Lightyear Capital.

James Twining, Wren Sterling’s chief executive, said: “The UK IFA market encompasses many excellent businesses deciding that now is the time to look for new investors, either to facilitate their own retirement or because they see that their clients stand to benefit significantly from the support of a larger organisation in the face of mounting regulatory, operational and technology costs and complexity.”

McGuigan added: “Thanks to our new partnership, we will be able to strengthen our offering to clients and continue to develop and invest in our people. We also have the exciting opportunity to expand the business further through hiring and bolt-on acquisitions in the Oxford and Thames Valley regions.”

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