MWA Financial has purchased CHC Wealth Management, bringing its adviser team to 19 and its assets under influence to £380m.
The acquisition is a part of MWA’s vision to expand into a national business. It comes not long after MWA purchased Prosperity Financial Advisors & Stockbrokers.
The acquired Essex-based firm, which was bought from chartered accountants Clemence Hoar Cummings, will retain its branding and offices under the terms of the deal.
MWA Financial executive chairman Ed Rosengarten said: “We have set our stall out as an aggregator of high-quality regional IFAs and the acquisition CHC Wealth Management is another great example of that.
“What we have bought is a first-class regional business with a high-quality offering and hugely impressive client list.
“Our aim with each business we buy is to support the elements that have made them so successful to date while providing expertise and support from the group to help them develop and grow further.”
Owner and chief executive of MWA Financial, Campbell Banks, aimed to recreate the advice models from his country of birth, Australia, in the UK.
Mr Banks commented: “The acquisition of CHC Wealth Management is another significant milestone for MWA as we look to continue to increase our footprint across the UK.
“What is more, the strategic partnership we have put in place with Clemence Hoar Cummings as part of the deal will enable both businesses to significantly enhance their client propositions.
“CHC Wealth Management clients will retain their usual high levels of service with the additional benefit of having access to the wider range of tools and scale MWA offer.”