Wealth manager snaps up IFA in first acquisition

Lumin managing director said deal could provide a blueprint for further acquisitions

Wealth management firm Lumin Wealth has bought Hyperion Financial Planners.

Hyperion is based in Bedfordshire and the deal marks the first acquisition for the London-based wealth manager.

Lumin has £400m in assets under management with the deal adding £85m.

The acquisition is set to complete on 8 April and will see Hyperion’s director and adviser Michael Barnett, a senior paraplanner and another financial adviser move to London.

Lumin managing director Martin Cotter said that this could provide a blueprint for further acquisitions, as the firm had been looking for 18 months to make its first one.

However, Cotter added he wants to make sure the transition with Hyperion is smooth before looking to buy other companies.

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