Independent Wealth Planners’ consolidation spree

Independent Wealth Planners, which is in the process of purchasing eight adviser firms nationwide, is set to be managing £2bn of assets by the first quarter of 2020.

IWP bought four advice firms this year and is looking to continue its acquisition spree under CEO David Inglesfield. The firm also has a further twenty advisers in acquisition discussions. 

Instead of integrating the acquired firms into the company, IWP intends to keep the firms operating independently, with their own branding and management. 

Mr Inglesfield said:  “We don’t think of ourselves as a traditional consolidator because we are not actually consolidating, we aim to keep those businesses running as independent local businesses. 

“They remain directly authorised and remain run by their own boards and we provide the infrastructure and services. They will ultimately end up with a shared infrastructure and common operating systems.

“I originally thought this would be a retirement planning option for principals looking to give their clients to someone who would look after them – that was the original idea. But actually I’d say three quarters of the firms we have acquired have come to us not because they are looking to retire but because they want to grow the business and recognise they can do so far more effectively with the support of a company like ours. 

“We are here to build Britain’s best independent wealth planning business – but we’re not trying to build it from scratch; there’s no need, because it already exists, in the many excellent local firms around the country. 

“What we do is give them the scale and support to flourish, and to come together as a national firm whilst retaining the local autonomy which makes them special.”

Chief operating officer at Independent Wealth Planners, Tony Spain, also commented: “Many firm owners tell us that they love their job insofar as it relates to advising clients; but they find it increasingly difficult to keep up with the managerial and administrative burdens of running a regulated firm. 

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