Private equity-backed Advanta Solutions has acquired Fulham-based Genesis Financial Planning in its fourth acquisition this year. The deal will add £150m in assets under management to the London and Glasgow based firm.
Advanta chief executive, Craig Webster said: “Our strategy of growing a financial planning and wealth management business fit for the future and focused on the needs of multiple generations of clients makes Genesis an ideal fit for Advanta.”
Genesis’s owner and director, Adam Horn said: “Having built up a base of great clients over the past 30 years it was important for me to find the right company to merge with. “This process was made much easier knowing there is so much cultural synergy between our two companies sharing the same values, professionalism and client service ethos.”
The acquisition comes in the wake of Advanta securing significant funding from Beech Tree Private Equity to fuel its external growth. Earlier this month, Advanta acquired three Scottish firms: SMG Financial Options, based in North Ayrshire; Ann Bellingham Financial Services, based in Kinross and Perth; and M&I Independent Financial Services.
The PE-backed firm is aiming to get a total of seven acquisitions under its belt before the end of the year. The value of the deal has not been disclosed.
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