Financial planning and wealth management group Finitor Wealth has acquired advice firms Ascent Financial Consulting and Financial Management Bureau (FMB). Financial details were not disclosed.
This comes just as Finitor Wealth received an undisclosed investment from private equity firm Rockpool Investments.
FMB is a second-generation family business with eight advisers in Kendal, Cumbria, with more than £250m of assets under advice. Ascent Financial Consulting is a three-adviser firm based out of Leamington Spa. It will add £190m of AUA, taking Finitor Wealth’s assets to over £1.1bn.
Paul Stokes, chief executive at Finitor, said: “Finitor Wealth are delighted to have raised investment with Rockpool and this investment has allowed us to grow through the exciting addition of two high quality firms, Ascent Financial Consulting and FMB. We look forward to working with the teams at FMB & Ascent as they continue on their respective journeys.”
This article first appeared on our sister title International Adviser.
