HFMC Wealth has acquired Weston-Cummins Ltd, its second acquisition of 2023. The deal continues to add to the strength in depth already in its London office. This deal is brokered by Gunner & Co..
The transaction, which completed on 30th June 2023, sees all Weston Cummins client-facing staff retained. Alan Weston, Nick Frank, Steve Powis and Joseph Bacon all continue to oversee their key client relationships. Weston Cummins holds the Corporate Chartered Planning Firm status, as does HFMC Wealth and it was important to everyone that the values and professional standards that are associated with this status could be maintained.
Weston Cummins advises some 265 high net worth families will add circa £350mn of assets under advice to HFMC Wealth. The clients and culture of the firm marries perfectly with HFMC Wealth’s High Net Worth proposition.
Commenting on the transaction, Weston Cummins majority owner and director, Alan Weston said:
“The decision to join another firm wasn’t an easy one. For some time we had been considering whether we should grow our own business, taking on more clients and advisers, or to seek a partner that had already gone through those growing pains and was already placed to provide fantastic advice with an exceptional range of services. We have felt for some time that joining a larger firm would be the best way to deliver the wider range of services we wish to provide our clients, whilst also providing a controlled succession to my ownership of the business over the coming years.”
“Relationships are key to the long term success on financial planning as so much value resides in the trust that our clients place in us and the empathy and understanding we provide whilst helping clients achieve their own goals. The ability to retain those relationships, for staff and clients alike, was critically important. I promised myself that I would always look after my clients, and I am confident that I am doing just that whilst joining HFMC Wealth. They are an award-winning firm with client aligned values that are clear for all to see. HFMC sets its stall out to be the UK’s premier home for entrepreneurial, independent chartered High Net Worth advisers and we are happy to be a part of that.”
Phil Patient, Chief Operating Officer at HFMC added “We’re thrilled to have completed this deal, which will be a great addition for our London office. Gunner & Co.’s support on the deal was invaluable.”
Ross Ibbotson, Executive Director at HFMC Wealth added: “The acquisition of Weston Cummins is a continuation of our growth strategy, making carefully selected acquisitions that align with our values. We look forward to working with like-minded people in an environment where they can thrive and continue to do the right things, whatever that may be, to deliver exceptional service and advice to their clients. We welcome all of the team too and look forward to helping them continue to develop in their careers. We know that Weston Cummins have the interests of their clients and staff at their heart.”
“We continue to pursue other potential acquisitions with like-minded wealth and financial planning firms and expect further deals to be agreed in 2024 as we continue our growth strategy. We are building a sustainable financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank.”
Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales
To discuss the market for potential acquisitions, speak with our Head of Brokerage Gwill Evans and click here.