MKC Wealth has acquired Anthony, Bryant & Company, an IFA based in London.
AB&C have been in business for almost 45 years. Tony Ahearne, founder and principal at the IFA, advises £70 million assets across 126 households. Mr Ahearne is set to join MKC in an “ambassadorial” role to assist with client handover, before he goes into retirement.
He said: “In a long career in the industry I have built relationships with clients who have become very good friends. I am proud that all new business has come from recommendations of existing clients and in many cases I am now advising the children and other relatives of these friends.
“As I begin the next chapter of my life, I am delighted to introduce my clients to the MKC Wealth team and I have absolute confidence that they will be very well looked after.”
MKC Wealth, which is backed by private equity firm Cabot Square Capital, was launched last year. The adviser was founded by Dominic Rose and Nigel Speirs, who were formerly principals at Quilter.
Mr Rose, MKC Wealth’s chief executive, said: “We have known Tony for a while and share the same values – namely putting clients at the heart of our businesses. We will continue to acquire selectively where opportunities exist and there is a close cultural fit.
“People like Tony have built-up an immense trust with clients.
“Taking over these relationships is a significant responsibility. We want the clients to be delighted with our service and for them, thank Tony for a carefully planned and well delivered succession plan.”
Rose added: “We are ahead of our initial plans, now approaching £1bn of assets under advice and, excitingly, have delivered on our promise to all our staff to enable them all to become shareholders in the business we are building together.”
The deal is MKC Wealth’s second acquisition. Back in November 2021, the firm purchased Lighthouse’s advice business.
The value of the deal has not been disclosed.
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