Craven Street Wealth (CSW) has acquired UK-based financial planning company Bernard Barrett Associates.

The deal, whose financial terms were not disclosed, will boost CSW’s assets under management to £1.25bn.

Craven Street Wealth, which is the wealth management arm of Craven Street Capital, was established in March 2021 after the buyout of Kreston Reeves and Christchurch Investment Management.

With more than 40 years of expertise, Bernard Barrett Associates are experts in financial planning.

Under the agreement, all employees of staff of Bernard Barrett Associates’ will continue within the business.

Its director Stuart Bates will join the management team of Craven Street Wealth, while managing director Bernard Barrett will transition into a role in relationship management capacity.

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CSW managing director Tom Barnett said: “I am delighted to welcome the Bernard Barrett Associates clients and team to the Craven Street Wealth group at an exciting time for our growth plans in London.”

“From our early interactions with Bernard and Stuart I was sure that the team and their approach to client care would fit naturally into the culture at Craven Street Wealth and therefore whilst representing a change for all, I am confident the future will also hold a high level of continuity of these core values.”

The latest acquisition follows the firm’s purchase of Tarvos Wealth last year. At the moment, there are 18 financial advisors working for the company.