Independent Wealth Planners UK (IWP) has bought Wigan-based financial planning firm Prosper Wealth Management for an undisclosed sum.
The deal will add a further £170m in funds under management, taking total assets at the group to £1bn, and will see IWP acquire 486 clients from Prosper.
Prosper will become IWP’s main hub for the north west of England and its sixth regional office.
Managing director David Barton will continue to lead the team of four advisers and six support staff and will take the lead on any further acquisitions that IWP makes in the area.
Acquisition spree
In November 2019, IWP opened for business with five financial planning ‘member firms’.
They include Alexander Grace, Kelsall Steele Investment Services, Murdoch Asset Management, Rixons Wealth Management and Bartholomew Hawkins, giving the business a presence across the UK.
At the time, IWP said it will look to establish a nationwide presence with about 50 offices, adding that it was in “active discussions” with over 20 regional IFA firms.
