Consolidator Independent Wealth Planners UK (IWP) has bolstered its reach in the south west by acquiring Truro-based Westinsure Webb Financial Services.
The acquired business is now a part of IWP’s Cornwall hub Kelsall Steele Investment Services.
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It brings a total of £70m in assets under advice and two advisers to Kelsall.
Kelsall CEO Wes Nixon said: “This acquisition marks the first step in our growth plans to build IWP’s south west hub into a £500 million true financial planning business.”
Henry Clayton will remain CEO of Westinsure Webb till the conclusion of the integration process.
Financial terms of the deal were not disclosed.
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By GlobalDataThe latest transaction is IWP’s fifth acquisition this year and its tenth overall.
The deal follows IWP’s recent acquisitions of Clairville York Financial Advisers, Prosper Wealth Management, AGL Wealth Management, and Richmond House Wealth Management.
Westinsure Webb CEO Henry Clayton said: “Our business has been providing advice and excellent service to clients for a period in excess of 60 years. We have always believed in putting our clients first, and that is why Kelsall Steele Investment Services and the personalised and regionalised approach of IWP was the natural fit for us.
“As part of IWP we are also excited to access the opportunity both with the brand and its central support and resources, these will enable us to grow whilst keeping our focus on our clients.”
