The Penny Group has taken a majority stake in Coventry-based financial planning firm Oakwell Wealth Management, continuing its strategy of expanding its regional advisory footprint across the Midlands.

The deal brings Oakwell — an established chartered financial planning firm serving mass affluent and high-net-worth clients — into The Penny Group’s growing network. The acquisition strengthens the Group’s presence in the Midlands, adding experienced advisers, a strong client bank and long-standing community relationships.

Oakwell Wealth Management, founded in 2010, provides holistic financial planning across pensions, investments, protection and intergenerational planning. The firm’s leadership team will remain in place, continuing to run the business while leveraging The Penny Group’s scale, technology and centralised support.

The Penny Group said the investment aligns with its long-term ambition to build a national, adviser-led business with regional hubs and locally rooted teams.

A spokesperson for The Penny Group commented:

 

“Oakwell is a high-quality, values-aligned business with deep client relationships. Our investment will allow the team to continue doing what they do best, while giving them the resources to grow and enhance their service proposition.”

 

Financial terms of the transaction were not disclosed. The Penny Group confirmed it continues to seek further acquisitions across the Midlands and South of England as part of its ongoing consolidation strategy.