Loyal North has purchased Surrey-based Whitman Fry Wealth Management Ltd for an undisclosed sum. The deal will add £60mn of client fund to Loyal North.

Whitman Fry is based in New Malden in Surrey and will become part of Loyal North’s regional hub – Gerald Pepper Financial Management (GPFM) , which is based in Hertford.

As part of the acquisition, Whitman Fry shareholder and adviser Alison Fry will join GPFM as a senior financial planner and continue to deliver financial planning to her clients following the transition. In addition, fellow shareholder and adviser Alex Whitman and shareholder Sara Whitman will both oversee the transition and a handover of clients prior to retiring from the industry.

Loyal North group acquisition director Debbie Dry said: “It was important that the shareholders of Whitman Fry 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. This is another great acquisition for us, and we welcome Alison and Alex and their clients to GPFM and the Loyal North family.”

GPFM joint managing directors Scott Atkinson & Simon Frost said: “We felt that there was great cultural alignment in terms of client approach and proposition and so strongly believed that we are the right future home for the clients.”

Fry and Whitman added: “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 team at GPFM, and the personalised and local approach of Loyal North made them the perfect choice and cultural fit for the future of our clients.”

Loyal North now manages over £1.9bn in client wealth nationally. Last Novermber, Loyal North acquired financial planning firm Sovereign Financial Services to boost its existing presence in Scotland.


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