Loyal North has completed a pair of acquisitions bringing in a combined £56mn of client funds.
Loyal North has bought the Hertford-based IF Wealth and Essex-based Powell Financial Planning.
The acquisitions will bring £16mn and £40mn of client funds to the group, respectively.
Debbie Dry, group acquisition director of Loyal North, said: “It was important that the shareholders of both Powell Financial Planning and IF Wealth found the best home for their clients and, with an existing local firm of scale in the same region, we believed that we were the perfect fit."
Both firms will become part of Loyal North's regional hub, Gerald Pepper Financial Management (GPFM).
As part of this, Powell Financial Planning shareholder, Colin Powell, will join GPFM as a senior financial planner and continue to serve his clients following the transition.
Fellow shareholder and paraplanner Katherine Waspe Powell will join GPFM as a senior paraplanner.
In a joint statement, the Powells said: “Our business has prided itself on providing excellent financial planning, putting our clients at the heart of what we do and that is why the great team at GPFM, and the personalised and local approach of Loyal North made them the perfect choice and cultural fit for us and our clients.
"There are many similarities in what we and GPFM do for clients and how we deliver financial planning, and we felt that it was a natural home for us”.
Grant Hazard of IF Wealth will assist GPFM with overseeing the transition and integration of his clients before retiring from the industry.
Hazard said: "It was so important that my clients went to the right home and having known both Simon and GPFM for many years, and understanding the client centric approach of Loyal North, made them the natural choice for me my clients."
tara.o'connor@ft.com
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