Brooks Macdonald Group is set to takeover Integrity Wealth and its subsidiary, Integrity Wealth Solutions, subject to regulatory approval.

The deal, whose financial details were not revealed, will be funded through existing financial resources, Brooks Macdonald said.

The consideration will be paid in two tranches, with an element linked to a three-year growth target.

Nuneaton-based Integrity Wealth Solutions is an independent financial adviser (IFA) firm with around 800 clients and funds under management (FuM) of approximately £250m.

The firm focuses on advising business owners, high-net-worth (HNW) individuals and their families across the country, especially in Warwickshire, West Midlands and Leicestershire area.

The addition of Integrity Wealth Solutions is expected to bolster Brooks Macdonald’s Private Clients business.

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Brooks Macdonald CEO Andrew Shepherd said: “An integral part of our proposition is to offer successful IFA partners like Integrity Wealth Solutions an opportunity to become part of a larger wealth management firm, adding both scale and capability, when the time is right for them. A shared culture and a focus on delivering a quality service provide a solid foundation from which to take advantage of exciting growth opportunities.”

Integrity Wealth Solutions managing director Martin Lindsey will continue to lead the firm while taking up the role of senior financial planning director and head of Advice at Brooks Macdonald.

The deal will have no impact on the firm’s clients, who will benefit from Brooks Macdonald over time.

Integrity Wealth Solutions managing director Martin Lindsey said: “We have been successful in growing Integrity Wealth Solutions at pace, providing high-quality financial advice to our clients.

“Having found success as an independent firm, we are excited at the opportunity to benefit from the support and infrastructure of a larger company, one that matches our unwavering commitment to delivering value for our clients, and one where we believe we can continue to build our capabilities for the future. I am delighted that we have found such a firm in Brooks Macdonald, and we are very pleased to be joining the Group.”